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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Blackrock New S | LSE:BRNS | London | Ordinary Share | GB00B4KTTT60 | SUB SHS 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.29 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
19 December 2013 BLACKROCK NEW ENERGY INVESTMENT TRUST PLC (THE "COMPANY") PUBLICATION OF CIRCULAR The Company has today issued a circular (the "Circular") to its shareholders ("Shareholders") in connection with recommended proposals for the reconstruction and winding up of the Company (the "Proposals"). The Proposals Under the Proposals, which will be effected by way of a scheme of reconstruction of the Company under section 110 of the Insolvency Act 1986, Shareholders will be able to elect: - to realise all or some of their investment in the Company for cash (the "Cash Option"); and/or - subject to the Rollover Condition being met, to roll over all or some of their investment into shares of the New Energy Fund, a sub-fund of BlackRock Global Funds, a public limited company established under the laws of the Grand Duchy of Luxembourg as an open-ended variable capital investment company (the "New Energy Rollover Option"). The Board has determined that Shareholders who do not elect for the New Energy Rollover Option should receive cash. Shareholders who do not make a valid Election will be deemed to have elected for the Cash Option in respect of their entire holding of Shares. Restricted Persons will not be provided with a Form of Election and will be deemed to have made an Election for cash unless they are able to satisfy the Company and the Management Company that they are permitted to hold New Energy Fund Shares without breaching the laws of any relevant jurisdictions. The Circular contains details of the action which Shareholders should take in order to make an election for New Energy Fund Shares under the Proposals. If your Shares are held through one of the Savings Schemes, you should take the action set out in the section headed "Savings Scheme Participants" in Part II of the Circular. Subscription Shareholders Pursuant to the Proposals, Subscription Shareholders will have a fixed entitlement per Subscription Share calculated in accordance with Article 13.3.9 of the Articles of Association (the Subscription Share Entitlement). The Subscription Share Entitlement will be calculated by reference to the middle market quotations (as derived from the Official List) for one Subscription Share for the 10 consecutive dealing days ending on the date on which the Proposals were announced, being 13 December 2013, and will be paid out of the Liquidation Fund on or following the Effective Date. General Meetings The implementation of the Proposals will require Shareholders to vote in favour of resolutions to be proposed at the Meetings which have been convened for 2 p.m. on 21 January 2014, 12.15 p.m. on 6 February 2014 and 9.30 a.m. on 14 February 2014. The notices convening the Meetings are set out in the Circular. The Meetings will be held at the offices of BlackRock Investment Management (UK) Limited, 12 Throgmorton Avenue, London EC2N 2DL. Expected Timetable 2014 Latest time and date for receipt of Forms of 10 a.m. on 13 January Direction in respect of the Subscription Shareholder Meeting Latest time and date for receipt of Forms of 2 p.m. on 17 January Proxy in respect of the Subscription Shareholder Meeting Subscription Shareholder Meeting 2 p.m. on 21 January Latest time and date for receipt of Forms of 10 a.m. on 28 January Direction in respect of the First General Meeting Latest time and date for receipt of Forms of 12.30 p.m. on 31 January Election or TTE Instructions and Application Forms (for the New Energy Rollover Option only) from Eligible Shareholders Latest time and date for receipt of Savings 5.00 p.m. on 31 January Scheme Forms of Election from Savings Scheme Participants Shares disabled in CREST* 6.00 p.m. on 3 February Date from which it is advised that dealings 4 February in Shares should only be for cash settlement and immediate delivery of documents of title Latest time and date for receipt of Forms of 12.15 p.m. on 4 February Proxy from Shareholders in respect of the First General Meeting Latest time and date for receipt of Forms of 10 a.m. on 5 February Direction in respect of the Second General Meeting Annual General Meeting 12.00 noon on 6 February First General Meeting 12.15 p.m. on 6 February Calculation Date close of business on 6 February Record Date for the calculation of close of business on 6 February Shareholders' entitlements under the Scheme Ordinary Shares reclassified as Reclassified 8.00 a.m. on 7 February Shares in the Official List and dealings in Reclassified Shares commence** Latest time and date for receipt of Forms of 9.30 a.m. on 12 February Proxy from Shareholders in respect of the Second General Meeting Listing of Reclassified Shares and 7.30. a.m. on 14 February Subscription Shares on the Official List suspended Second General Meeting 9.30 a.m. on 14 February Effective Date for implementation of the 14 February Scheme and commencement of the liquidation Dealings in New Energy Fund Shares issued to 17 February Eligible Shareholders under the Scheme commence Cancellation of listing of Reclassified 8 a.m. on 17 February Shares and Subscription Shares on the Official List** Contract notes in respect of New Energy Fund 17 February Shares issued under the Scheme despatched to (or as soon as practicable Eligible Shareholders entitled thereto thereafter ) Cheques expected to be despatched and CREST week commencing 17 February payments made to Shareholders in respect of cash Elections made under the Scheme Cheques expected to be despatched to Savings week commencing 17 February Scheme Participants in respect of cash (or as soon as practicable elections made or deemed to be made under the thereafter ) Scheme Cheques expected to be despatched to week commencing 17 February Subscription Shareholders in respect of their Subscription Share Entitlement * For the avoidance of doubt, the Company's register of members will remain open until the Effective Date. ** Reclassified Shares are a technical requirement of the Scheme and will be created if the resolutions to be proposed at the First General Meeting are passed and become effective. Each of the times and dates in the expected timetable may be extended or brought forward without further notice. If any of the above times and/or dates change, the revised time(s) and/or date(s) will be notified to Shareholders by an announcement through a Regulatory Information Service provider. Words and expressions defined in the Circular have the same respective meanings in the above expected timetable. A copy of the Circular will shortly be submitted to the National Storage Mechanism and will shortly be available for inspection at http://www. morningstar.co.uk/uk/NSM. Enquiries: Simon White BlackRock Investment Management Tel: 020 7743 5284 Alex Blake Winterflood Investment Trusts Tel: 020 3100 0297
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