BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC
Interim Management Statement - 3 months to 29 February 2012
To the members of BlackRock Commodities Income Investment Trust plc
This interim management statement has been produced solely to provide
additional information to shareholders as a body to meet the relevant
requirements of the UK Listing Authority's Disclosure & Transparency Rules. It
should not be relied on by any other party for any other reason.
This interim management statement relates to the period from 1 December 2011 to
29 February 2012, and contains information that covers this period, and up to
the date of publication of this interim management statement. Please note more
detailed performance information, including the latest month end announcements
are available on the Manager's website - www.brciplc.co.uk.
The Company's objectives are to achieve an annual dividend target and, over the
long term, capital growth by investing primarily in securities of companies
operating in the mining and energy sectors. The Company is managed by Richard
Davis of BlackRock.
Stock Performance
Cumulative Performance (%):
One Three Six One Launch
Month Months Months Year 13.12.05
Net Asset Value 2.0 5.5 2.6 -8.5 83.2
Share Price 0.0 7.0 2.8 -11.1 77.5
All performance figures are in £ on a total return basis.
Ten Largest Equity Holdings at 29 February 2012 (in alphabetical order)
Anadarko Petroleum
BHP Billiton
Chevron
ExxonMobil
Kumba Iron Ore
Occidental Petroleum
Rio Tinto
Teck Resources
Total
Vale
Financial position and performance as at 29 February 2012
Gross Assets (£m)* 125.07
Short term borrowings (£m) Nil
Net asset value-Capital only 135.32p
Net asset value-Including income 136.38p
Share Price 135.00p
Ordinary Shares in Issue 91,508,000
Actual Gearing 0.0%
Discount to NAV-Including income 1.01%
Discount to NAV-Capital only 0.24%
*includes current year revenue
Material Events & Transactions
Material events or transactions, during the three months to 29 February 2012,
and from 1 March 2012 to the date of publication of this report are set out
below. The Company was not involved in any other material transactions during
the period except for the purchase and sale of securities undertaken in the
normal course of its business.
Interim Dividends
The fourth interim dividend in respect of the year ended 30 November 2011 of
1.55 pence per share was declared on 6 December 2011, and paid on 20 January
2012 to shareholders on the register at the close of business on 24 December
2011.
The first interim dividend in respect of the year ending 30 November 2012 of
1.4375 pence per share was declared on 13 March 2012 to be paid on 18 April
2012 to shareholders on the register at the close of business on 23 March 2012.
Issue of Shares
During the period 1,000,000 shares were issued for gross proceeds of £1,364,375.
Tender
On 6 December 2011 the Board announced that it had decided not to proceed with
the semi-annual tender offer in February 2012.
Financial Report
The Company announced its financial results for the year ended 30 November 2011
on 20 January 2012.
Directorate Change
The Company announced on 3 February 2012 that Mr Gibbs would retire as a
director of the Company with effect from the conclusion of its Annual General
Meeting ("AGM") on Tuesday, 13 March 2012. Accordingly, with the consent of the
meeting it was proposed to withdraw the resolution to be proposed at the AGM in
respect of Mr Gibbs' re-election.
The Board conveyed its thanks to Mr Gibbs for the important contribution he had
made to the Company since its inception in December 2005.
Annual General Meeting ("AGM")
At the Company's AGM held on Tuesday, 13 March 2012, all resolutions were
passed.
Change in NAV and Share Price
For the period 1 March 2012 to 12 March 2012 the Company's NAV fell by 1.7% and
the share price by 0.7%.
The Board is not aware of any material events or transactions, except as
disclosed herein, occurring between 1 March 2012 and the date of publication of
this interim management statement which would have a material impact on the
financial position of the Company.
Latest information is available by typing, www.brciplc.co.uk on the
internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic 3 (ICV
terminal).
Contact details:
Kerry Higgins
Secretary
Tel: 020 7743 1089
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Obtains access to the information in a personal capacity;
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Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
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