SUBMISSION OF DOCUMENTS
Documents on BlackRock Commodities Income Investment Trust plc:
Copies of the Annual Report & Accounts for the year ended 30 November 2009 and
the Form of Proxy have been submitted to the UK Listing Authority, and will
shortly be available for inspection at the UK Listing Authority's Document
Viewing Facility, which is situated at:
The Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Tel. No. (0)20 7066 1000
The Notice of Annual General Meeting, contained within the Annual Report and
Accounts, includes a special resolution to approve the adoption of new Articles
of Association, amended to incorporate changes brought about by the
implementation of the Companies Act 2006 ("the Act") and the Companies
(Shareholders' Rights) Regulations 2009 ("the Directive"). The proposed new
Articles of Association (together with a document showing the changes to the
existing Articles of Association) are available for inspection at the Company's
registered office, 33 King William Street, London EC4R 9AS until the close of
the Annual General Meeting. A copy of the proposed new Articles of Association
has also been lodged with the UK Listing Authority and will shortly be
available for publication through the above document viewing facility.
The principal changes introduced in the new Articles proposed to be adopted by
the Company are as follows:
(a) Authorised share capital - the Act abolishes the requirement for a company
to have an authorised share capital and the new Articles reflect this.
Directors will still be limited as to the number of shares they can at any time
allot because allotment authority continues to be required under the Act, save
in respect of employee share schemes.
(b) Reduction in notice period for general meetings - the notice period for
meetings at which special resolutions are considered has been reduced from 21
days to 14 days. However, this has been subject to further changes which have
been implemented by the Directive. The notice of general meetings clause has
been broadly drafted to allow for the changes imposed by the Directive.
(c) Change of name - under the Act, the Company can change its name by a
special resolution of the members and also by other means provided for in its
articles. The new Articles, therefore, provide for the Company to change its
name by a resolution of the Directors.
(d) Objects clause - the Company's memorandum of association has been abolished
and no restrictions on the Company's objects are being included in the new
Articles. As the effect of this resolution will be to remove the statement
currently in the Company's memorandum of association regarding limited
liability, the new Articles also contain an express statement regarding the
limited liability of shareholders.
(e) Chairman's casting vote - pursuant to the Directive, a Chairman's casting
vote at general meetings is no longer effective, therefore these provisions are
being removed.
(f) Redeemable shares - prior to 1 October 2009 if a company wished to issue
redeemable shares, it must have included in its articles the terms and manner
of redemption. The Act enables directors to determine such matters instead
provided they are so authorised by the articles. The new Articles contain such
an authorisation.
(g) Closing of the register - with effect from 1 October 2009 companies are no
longer able to close their register, therefore the provisions allowing closure
are being removed.
(h) Directors' conflicts of interest - these provisions are being updated to
comply with the most recent changes to the Act.
(i) Duplication - provisions in the current articles of association which
replicate provisions contained in the Act have in the main been removed in the
new Articles.
(j) General - generally the opportunity has been taken to make other changes,
which are of a minor, technical or clarifying nature and also some more minor
changes which reflect the changes made by the Act and the Directive including
references to sections contained in the Act.
Resolution 13 will also remove all of the provisions of the Company's
memorandum of association which by virtue of the Act were treated as forming
part of the Company's Articles with effect from 1 October 2009.
1 February 2010
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