Blackrock Frontiers set to shrink – BlackRock Frontiers Investment Trust has announced the result of its tender offer. The tender closed at 1.00 p.m. on 19 February 2021 and was approved by shareholders today.
51,884,770 ordinary shares, representing 21.51% of the shares in issue as at 19 February 2021 were validly tendered. Now, the company’s assets and liabilities will be split between a continuing pool and a tender pool. The tender pool will be turned into cash. It bears all the associated costs (including stamp duty/stamp duty reserve tax payable in respect of the subsequent repurchase of tender shares).
The tender price will be determined once the assets contained in the tender pool have been fully realised and all liabilities accounted for.
- Calculation date close of business on 23 February 2021
- Tender offer final asset value announced 25 February 2021
- Establishment of tender and continuing pools 25 February 2021
- Realisation of the tender pool starts 25 February 2021
BRFI : Blackrock Frontiers set to shrink