BLACKROCK NEW ENERGY INVESTMENT TRUST PLC - Statement re Elections under Scheme
04 Febbraio 2014 - 12:44PM
PR Newswire (US)
BlackRock New Energy Investment Trust plc: Elections under Scheme
Further to the proposals for the reconstruction and winding up of the Company
contained in the circular dated 19 December 2013, the deadline for receipt of
Forms of Election has now passed. Valid elections for New Energy Fund Shares
were received in respect of Ordinary Shares with an aggregate value of less
than £5m, therefore such Elections are deemed to be elections for the Cash
Option in accordance with the terms of the Scheme. Accordingly, elections for
cash were made, or deemed to have been made, in respect of all 235,000,192 of
the Company's Ordinary Shares.
Reclassification of Shares
As a result of the elections referred to above, 235,000,192 Ordinary Shares
will be reclassified as Shares with A Rights and no Shares will be reclassified
as Shares with B Rights.
Application has been made to the UK Listing Authority and the London Stock
Exchange for the listing in respect of the Shares to be amended to reflect the
reclassification of the Shares as Reclassified Shares. It is expected that such
amendment will become effective and dealings in the Reclassified Shares will
commence with effect from 8.00 a.m. on 7 February 2014.
Suspension and cancellation of Reclassified Shares and Subscription Shares
It is expected that the listings of the Reclassified Shares and the
Subscription Shares will be suspended at 7.30 a.m. on 14 February 2014.
The Company has requested, subject to the passing of the resolution to be
proposed at the Second General Meeting, the cancellation of admission of the
Reclassified Shares and the Subscription Shares to listing on the Official List
and to trading on the Main Market. The cancellations are expected to take
effect at 8.00 a.m. on 17 February 2014.
General
The Scheme remains conditional on the passing of the Resolutions to approve the
Proposals at the Meetings. The Proposals will not become effective unless the
Resolutions are passed.
Enquiries
Simon White
BlackRock Investment Management
020 7743 5284
Alex Blake
Winterflood Investment Trusts
020 3100 0297
Capitalised terms shall bear the meanings given to them in the Company's
Circular dated 19 December 2013 unless the context otherwise requires.
4 February 2014
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