BLACKROCK HEDGE SELECTOR LTD - Statement re Cash Fund Share Class
15 Novembre 2012 - 5:54PM
PR Newswire (US)
BLACKROCK HEDGE SELECTOR LTD - Statement re Cash Fund Share Class
Further to the announcement made on 6
November 2012 that the Cash Fund Share Class is no longer
compliant with the "Public Hands" requirements of the UK Listing
Rules, the Board announces that, subject to the requisite
regulatory approvals and clearances being obtained, and pursuant to
the Company's Articles of Association, it currently intends to
compulsorily redeem all Cash Fund Shares in issue after the next
share conversion between the UK Emerging Company Shares and the
Cash Fund Shares has been implemented on 31
December 2012. This compulsory redemption is expected to be
completed in January 2013.
Consequently, it will not be possible for shareholders to elect to
convert UK Emerging Company Shares in to Cash Fund Shares at the
March 2013 conversion date (the
deadline for which has previously been announced as 19 January 2013), or to make subsequent
conversion elections.
The Board recognises the importance that shareholders place on
the liquidity and discount control mechanism provided by the Cash
Fund switching facility. Given the developments outlined above, the
Board is considering proposals for an enhanced discount control and
liquidity mechanism and a further announcement will be made as soon
as practicable.
Enquiries
Ian Webster - 01534 600 802
BlackRock (Channel Islands) Limited
Will Rogers- 0207 397 1920
Cenkos
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