BlackRock Hedge Sel Statement re Completion of December 2014 Redemption

 
TIDMBHUE 
 
BlackRock Hedge Selector Ltd 
 
                                ("the Company") 
 
                    Completion of December 2014 Redemption 
 
As approved at the Extraordinary General Meeting of the Company on 11 April 
2013, the Company implemented a quarterly Redemption Mechanism for up to a 
maximum of 20 per cent. of the UK Emerging Companies Shares in issue at the 
relevant Redemption Notification Date. For the December 2014 redemption, the 
Directors exercised their discretion to invite UK Emerging Companies 
Shareholders to request the redemption of up to a maximum of 20 per cent. of 
the shares in issue as at 17 October 2014 (excluding treasury shares) (the 
Maximum Redemption Amount). 
 
The December 2014 Redemption for up to 5,195,045 UK Emerging Companies Shares 
was oversubscribed and holders of 6,541,208 UK Emerging Companies Shares 
(25.18% of the UK Emerging Companies Shares excluding treasury shares) elected 
to redeem their holding. Shareholders who have elected to redeem UK Emerging 
Companies Shares shall have their request up to the limit of the basic 
entitlement (20 per cent of their shares) satisfied in full and their election 
for further shares will be scaled-back pro rata with each shareholder receiving 
71.9475 per cent of their election for further shares. 
 
Based on a Net Asset Value for the UK Emerging Companies Shares at 31 December 
2014 of 135.2800 pence per share, less the costs of implementing the December 
Redemption, total proceeds of 135.26075 pence per share will be paid to 
Redeeming UK Emerging Companies Shareholders on or around 16 January 2015. 
 
The redeemed shares will be cancelled. Therefore following implementation of 
the December 2014 Redemption, the Company will have 20,780,183 UK Emerging 
Companies Shares in issue (excluding shares held in Treasury and on the basis 
that there are no other movements in the Company's issued share capital between 
the date of this announcement and the implementation date of the December 
redemption). In addition the Company holds in total 2,543,750 UK Emerging 
Companies Shares in Treasury. 
 
On 26 November 2014, the Board announced that it intended to propose to 
shareholders that the Company be de-listed and wound up and that investors 
receive exit proceeds equivalent to NAV less the costs of liquidation. A 
further announcement setting out the timetable will be made shortly, and it is 
anticipated that a General Meeting to approve the proposals will be held before 
the end of January 2015. In view of these developments the Directors will not 
offer the March 2015 Redemption Facility. 
 
Definitions 
 
Defined terms used in this announcement have the same meanings attributed to 
them as in the Company's Circular dated 21 March 2013. 
 
Enquiries 
 
Ed Bellew - 01534 600 806 
BlackRock (Channel Islands) Limited 
 
Will Rogers - 020 7397 1920 
Sapna Shah - 020 7397 1922 
Cenkos Securities plc 
 
7 January 2015 
 
 
 
END