Blue Capital Alternative Income Fund to face run-off decision at SGM
The board of directors of Blue Capital Alternative Income Fund is to recommend an orderly run-off of the company at a special general meeting (SGM) of shareholders to be held at the earliest practicable date.
The decision follows the company’s annual general meeting on May 8, when shareholders representing 39 per cent. of the ordinary shares voted against the continuation of the company.
This prompted the board to decide to call the SGM at a date still to be decided.
According to Blue Capital the manager of the company will take into consideration the Board's recommendation with respect to an orderly run-off in conducting its business between now and the SGM of shareholders.
The AGM voted on two special resolutions regarding ordinary and new shares, but neither reached the required threshold of three-quarters of the votes cast by shareholders to pass.