2nd Feb 2011 09:56
Not for release, publication or distribution in or into the United States, Canada, Australia or Japan.
BLACKROCK ABSOLUTE RETURN STRATEGIES LTD
Reverse Auction Tender Offer - Strike Price
The Board of BlackRock Absolute Return Strategies Ltd (the "Company") announces that the Strike Price for each of the Company's share classes is as follows:
US Dollar denominated Shares - US$8.66Euro denominated Shares - €8.43; andSterling denominated Shares - £8.11
The Strike Price for each class of Shares (calculated after deducting the costs and expenses of the Reverse Auction Tender offer) has been determined by taking the published net asset value per Share of the relevant class as at 31 December 2010 and applying the Strike Discount for that class of Shares as determined by the auction process.
Accordingly, 116,976 US Dollar denominated Shares, 87,611 Euro denominated Shares and 495,731 Sterling denominated Shares will be repurchased under the Reverse Auction Tender Offer and placed in treasury.
Settlement of the Reverse Auction Redemption Offer consideration is expected to be made on, or before 10 March 2011. A further announcement advising of the settlement date will be made in due course.
Defined terms in this announcement have the same meaning as in the Circular to shareholders dated 13 December 2010.
Enquiries:
Jonathan Ruck Keene / Kerry Higgins (Company Secretary) - 020 7743 3000 BlackRock Investment Management (UK) Limited
Will Rogers - 020 7397 1920Dion Di Miceli - 020 7397 1921Cenkos Securities plc
Date: 2 February 2011
vendorRelated Shares:
Smo Gold