THIS ANNOUNCEMENT SHOULD NOT BE
DISTRIBUTED, FORWARDED TO OR TRANSMITTED, DIRECTLY OR INDIRECTLY,
IN WHOLE OR IN PART, IN, INTO OR FROM THE
UNITED STATES, AUSTRALIA,
CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE
TO DO SO MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OR
REGULATIONS OF ANY SUCH JURISDICTION
31 July
2019
BlackRock North
American Income Trust plc
(the
"Company")
Publication of
Circular to convene a General Meeting
Since the Company’s Annual General Meeting (“AGM”) held on
5 March 2019, its Ordinary Shares
have consistently traded at a premium to the Net Asset Value per
Ordinary Share, which indicates that there is ongoing investor
demand for the Company. In order to satisfy this demand, the
Company has sold from treasury 5,975,000 Ordinary Shares in the
period from the AGM to 30 July 2019
(being the latest practicable date prior to the publication of this
announcement). At the AGM, the Company obtained shareholder
authority to issue and/or sell from treasury up to 6,929,900
Ordinary Shares on a non-pre-emptive basis which it expects to be
fully utilised prior to the next AGM. The Company is therefore
convening a General Meeting to obtain shareholder authorities to
enable it to continue to issue and/or sell from treasury further
Ordinary Shares.
Accordingly, the Company is pleased to announce that it has
today published a circular (the “Circular”) convening a General
Meeting on 28 August 2019 in order to
seek Shareholder authority to issue and/or sell from treasury
further Ordinary Shares on a non-pre-emptive basis. As with
the Ordinary Share issuances or sales from treasury to date, the
Ordinary Shares will be issued or sold from treasury at prices not
less than the last published Net Asset Value (cum-income) per
Ordinary Share at the time the proposed allotment or sale from
treasury is agreed and will therefore be accretive to the Net Asset
Value per Ordinary Share.
The Circular sets out the Company's intention to call a General
Meeting of Shareholders to be held at 12 Throgmorton Avenue,
London EC2N 2DL at 9.30 a.m. on 28 August
2019 to consider and, if thought fit, approve an ordinary
resolution empowering the Directors to allot, or sell from
treasury, securities up to an amount equal to approximately 10 per
cent. of the issued share capital, excluding treasury shares, of
the Company as at 30 July 2019 and a
special resolution to disapply pre-emption rights in respect of any
such issuance or sale from treasury. Any authority granted to the
Directors will be in substitution for the authorities granted at
the AGM and will expire at the conclusion of the next annual
general meeting of the Company to be held in 2020.
Expected Timetable:
Latest time and date for receipt of
forms of proxy |
9.30 a.m. on 23 August 2019 |
General
Meeting |
9.30 a.m. on 28 August 2019 |
A copy of the Circular and form of proxy have been submitted to
the National Storage Mechanism and will shortly be available for
inspection at http://www.morningstar.co.uk/uk/NSM.
The Circular will also shortly be available on the Company's
website at: www.blackrock.com/uk/brna/gmcircular.
Terms used in this announcement shall, unless the context
otherwise requires, bear the meanings given to them in the
Circular.
Enquiries:
Simon White/Caroline Driscoll
BlackRock Investment Management (UK) Limited
Tel: 020 7743 3000
Sapna Shah
Cenkos Securities plc
Tel: 020 7397 1922 |
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IMPORTANT INFORMATION
The content of this announcement has been prepared by, and is
the sole responsibility of, BlackRock North American Income Trust
plc. The information contained in this announcement is given at the
date of its publication (unless otherwise marked) and is subject to
updating, revision and amendment from time to time. Neither the
content of the Company's website nor any website accessible by
hyperlinks to the Company's website is incorporated in, or forms
part of, this announcement. The distribution of this announcement
into jurisdictions other than the United
Kingdom may be restricted by law. Any failure to comply with
these restrictions may constitute a violation of the securities
laws or regulations of any such jurisdiction. In particular, this
announcement should not be distributed, forwarded to or
transmitted, directly or indirectly, in whole or in part, in, into
or from the United States,
Australia, Canada, Japan
or the Republic of South Africa or
any other jurisdiction where to do so may constitute a violation of
the securities laws or regulations of any such jurisdiction. Cenkos
Securities plc, which is authorised and regulated by the Financial
Conduct Authority, is acting only for the Company in connection
with the matters described in this announcement and is not acting
for or advising any other person, or treating any other person as
its client, in relation thereto and will not be responsible for
providing the regulatory protection afforded to clients of Cenkos
Securities plc or advice to any other person in relation to the
matters contained herein.
None of BlackRock Investment Management (UK) Limited, BlackRock
Fund Managers Limited or Cenkos Securities plc, or any of their
respective affiliates, accepts any responsibility or liability
whatsoever for or makes any representation or warranty, express or
implied, as to this announcement, including the truth, accuracy or
completeness of the information in this announcement (or whether
any information has been omitted from the announcement) or for any
loss howsoever arising from any use of the announcement or its
contents. BlackRock Investment Management (UK) Limited, BlackRock
Fund Managers Limited, Cenkos Securities plc, and their respective
affiliates, accordingly disclaim all and any liability
whether arising in tort, contract or otherwise which they might
otherwise have in respect of this announcement or its contents or
otherwise arising in connection therewith.