FCAP.L Regulatory News (FCAP)

FRM Credit Alpha Limited (the "Company")

11 December 2013

Result of General Meeting

Further to the circular published by the Company on 8 November 2013 in connection with the recommended proposals for the voluntary liquidation of the Company (the "Circular"), the following special resolution was duly passed at the General Meeting of the Company held earlier today.

THAT:

(a) the Company be wound up voluntarily pursuant to section 391(1)(b) of the Companies (Guernsey) Law, 2008, as amended, and that Ian Damarell and Nathan Hodder of BDO Limited be and hereby are appointed as joint liquidators (the "Joint Liquidators") for the purposes of such winding-up including realising and distributing the Company's assets and any power conferred on them by law or by this Resolution may be exercised by them jointly or by either of them alone;

(b) the remuneration of the Joint Liquidators be determined by reference to the time properly given by them and their staff in attending to matters prior to and during the winding-up and they be and hereby are authorised to draw such remuneration as they may determine and to pay any expenses properly incurred by them, subject always to any prior agreement or quotation made between the Company and the Joint Liquidators; and

(c) the Company's books and records be held by the Company's secretary to the order of the Joint Liquidators until the expiry of a minimum of six years after the dissolution of the Company.

Save where the context requires otherwise, the definitions contained in the Circular shall have the same meanings where used in the above Resolution.

Copies of the resolution are available at the registered office of the Company during normal business hours on any weekday.

Appointment of Liquidators

Ian Damarell and Nathan Hodder of BDO Limited have been appointed as joint Liquidators responsible for the winding up of the Company's affairs. The Liquidators will be retaining the Manager to assist in concluding the realisation of the Company's investments and concluding the liquidation.

Cancellation of shares

It is expected that the listing of the Company's shares will be cancelled tomorrow, 12 December 2013.

Cash distribution to shareholders

All shareholders on the register at 6.00 p.m. on 10 December 2013 will be entitled to liquidation distributions. The Board anticipates that the joint liquidators will realise assets and make distributions when cost-effective while bearing in mind the expectations for timing of any other near-term realisations.

Enquiries

Chris Pyper, Financial Risk Management Limited - 020 7144 3682

Neil Morgan, Winterflood Investment Trusts - 020 3100 0292