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From the Opalesque team: The Board of Bramdean Alternatives Limited has published a circular detailing the proposals which have previously been announced, namely proposals to change its name to Aberdeen Private Equity Fund Limited, to focus on private equity funds and to convert the US dollar shares into sterling shares.
The final proposal would be "to approve the waiver, which has been granted by the Panel on Takeovers and Mergers, of the obligation that would otherwise arise on Elsina Limited (the Company's largest shareholder) to make a general offer to shareholders pursuant to Rule 9 of the City Code as a result of the share conversion proposal in (c) or in consequence of the Company repurchasing its own shares."
These proposals will be put forward for consideration by shareholders at an extraordinary general meeting and by the US dollar shareholders at a separate class meeting, both to be held in Guernsey on 3 June 2010. A copy of the circular can be found at the UK's FSA.
Bramdean Alternatives Limited is a Guernsey closed-ended investment company listed on the London Stock Exchange, which invests in a diversified portfolio of private equity funds (49%), hedge funds (9%), specialty funds (2%) and cash. As of 7th May, the GBP79m Bramdean Alternative Limited GBP portfolio was up +10.10% YTD, according to Morningstar.
Bramdean appointed Aberdeen Asset Managers Limit...................... To view our full article Click here
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