21st Jun 2016 14:38
LONDON (Alliance News) - BlackRock Emerging Europe PLC said Tuesday in the three year period since June 21, 2013, it has outperformed its benchmark index by 12.7 percentage points and, therefore, it will not be undertaking a tender offer for up to 25% of its shares.
The fund's shareholders in June, 2013, approved the introduction of a performance triggered tender offer, which meant that, if BlackRock Emerging Europe underperformed its benchmark, the MSCI Emerging Europe 10-40 Index, by more than 3.0% on a cumulative basis, a tender offer for up to 25% of its shares would take place.
As it outperformed its benchmark by 12.7 percentage points over the three years since 2013, the tender offer will not take place, BlackRock Emerging Europe said.
Shares in BlackRock Emerging Europe were down 0.3% at 219.00 pence on Tuesday afternoon.
By Hannah Boland; [email protected]; @Hannaheboland
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