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LONDON (Alliance News) - BlackRock Emerging Europe PLC said Friday it has decided to enter into voluntary liquidation with BlackRock Frontiers Investment Trust PLC acting as the sole roll-over vehicle for the company's shareholders.
BlackRock Emerging Europe will offer shareholders the option to receive cash at net asset value and then roll their investment into new C shares to be issued by BlackRock Frontiers.
"It is expected the C shares will be converted into ordinary shares in BlackRock Frontiers on a net asset value for net asset value basis once the C share portfolio has been substantially invested in accordance with BlackRock Frontiers investment policy," the company said.
In a separate statement, BlackRock Frontiers said the costs associated with the liquidation will be deducted from the C share pool "such that these costs are effectively borne by those BlackRock Emerging shareholders electing to roll over".
BlackRock Emerging shares were trading down 0.5% at 315 pence each while shares in BlackRock Frontiers were trading down 1.0% at 145.58p.