Issue of Equity
NOT FOR PUBLICATION, RELEASE, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN, INTO OR FROM, THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE
REPUBLIC OF SOUTH AFRICA, JERSEY OR GUERNSEY OR INTO ANY OTHER JURISDICTION
WHERE THE AVAILABILITY OF THE ISSUE WOULD BREACH ANY APPLICABLE LAW.
27 September 2010
BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC
Results of the Placing and Offer for Subscription of
C Shares to be issued at 100p per C Share
On 1 September, the Board of BlackRock Commodities Income Investment Trust plc
(the "Company") announced plans to raise capital by way of a placing (the
"Placing") and an offer for subscription (the "Offer for Subscription") of
C Shares at an issue price of 100p per C Share.
The Offer for Subscription closed for acceptances at 3.00 p.m. on 20 September
2010 and the Company announces that it has received valid subscriptions for
1,383,545 C Shares via the Offer for Subscription. The Placing closed for
acceptances at 3.00 p.m. on 24 September 2010 and the Company announces that it
has received valid subscriptions in respect of 18,616,455 C Shares via the
Placing. In total this represents Initial Gross Proceeds of £20,000,000.
The Issue is conditional, inter alia, upon the approval of Shareholders at the
General Meeting, to be held at 10:30 a.m. on 28 September 2010.
Application will be made to the UKLA and to the London Stock Exchange for the
C Shares to be admitted to the Official List and to trading on the London Stock
Exchange's main market for listed securities. It is expected that Admission
will become effective on 30 September 2010 and that dealings in the C Shares
will commence at 8.00 a.m. on 30 September 2010.
Terms used in this announcement have the same meaning as set out in the
Prospectus dated 1 September 2010.
For further information:
BlackRock Commodities Income Investment Trust plc
Jonathan Ruck Keene/ Kerry Higgins
+44 (0) 20 7743 3000
J.P. Morgan Cazenove
William Simmonds
Tel: +44 (0) 20 7588 2828
This Announcement, is not for distribution directly or indirectly in or into
the United States, Canada, Australia, the Republic of South Africa, Japan,
Jersey or Guernsey or any jurisdiction into which the same would be unlawful.
This Announcement does not constitute an offer to sell or issue or the
solicitation of an offer to buy or acquire shares in the capital of the Company
in the United States, Canada, Australia, South Africa or Japan or any
jurisdiction in which such an offer or solicitation is unlawful. The shares in
the Company referred to in this Announcement have not been and will not be
registered under the United States Securities Act of 1933, as amended and may
not be offered or sold within the United States absent registration or an
exemption from registration.
This Announcement has been issued by and is the sole responsibility of the
Company. No representation or warranty express or implied, is or will be made
as to, or in relation to, and no responsibility or liability (whether in
negligence or otherwise) arising directly or indirectly from the use of this
document is or will be accepted by J.P. Morgan Securities Limited (which
conducts its UK investment banking activities as J.P. Morgan Cazenove) ("J.P.
Morgan Cazenove") or by any of its respective directors, officers, employees,
advisers, representatives or other agents or affiliates as to or in relation
to, the accuracy or completeness of this Announcement or any other written or
oral information made available to or publicly available to any interested
party or its advisers, and any liability therefore is expressly disclaimed.
J.P. Morgan Cazenove, which is regulated and authorised in the United Kingdom
by the FSA, is acting for the Company in connection with the Issue and no one
else and will not regard any other person (whether or not a recipient of this
Announcement) as a client in relation to the Issue and will not be responsible
to anyone other than the Company for providing the protections afforded to
clients of J.P. Morgan Cazenove, nor for providing advice in relation to the
Issue or the contents of this Announcement.
The distribution of this Announcement and the offering of the C Shares in
certain jurisdictions may be restricted by law. Save in the United Kingdom, no
action has been taken by the Company or J.P. Morgan Cazenove that would permit
an offering of the C Shares or possession or distribution of this Announcement
or any other offering or publicity material relating to such C Shares in any
jurisdiction where action for that purpose is required. Persons into whose
possession this Announcement comes are required by the Company and J.P. Morgan
Cazenove to inform themselves about, and to observe, such restrictions.
The price of shares in the Company and the income from them may go down as well
as up and investors may not get back the full amount invested on disposal of
shares in the Company. Yields may vary, and are not guaranteed. There is no
guarantee that the market price of shares in the Company will fully reflect
their underlying Net Asset Value.
This Announcement should not be considered a recommendation by J.P. Morgan
Cazenove or any of its respective directors, officers, employees, advisers or
any of its affiliates in relation to any purchase of or subscription for
securities. No representation or warranty, express or implied, is given by or
on behalf of J.P. Morgan Cazenove or any of its directors, officers, employees,
advisers or any of their respective affiliates or any other person as so to the
accuracy, fairness, sufficiency or completeness of the information or the
opinions or the beliefs contained in this Announcement (or any part hereof).
None of the information contained in this document has been independently
verified or approved by or any of its directors, officers, employees, advisers
or any of their respective affiliates. Save in the case of fraud, no liability
is accepted by J.P. Morgan Cazenove or any of its directors, officers,
employees, advisers or any of their respective affiliates for any errors,
omissions or inaccuracies in such information or opinions or for any loss, cost
or damage suffered or incurred howsoever arising, directly or indirectly, from
any use of this document or its contents or otherwise in connection with this
Announcement. No person has been authorised to give any information or to make
any representations other than those contained in this Announcement and, if
given or made, such information or representations must not be relied on as
having been authorised by the Company and J.P. Morgan Cazenove. Subject to the
Listing Rules, the Prospectus Rules and the Disclosure Rules and Transparency
Rules, the issue of this Announcement shall not, in any circumstances, create
any implication that there has been no change in the affairs of the Company
since the date of this Announcement or that the information in it is correct as
at any subsequent date.
Neither the content of the Company's website (or any other website) nor the
content of any website accessible from hyperlinks on the Company's website (or
any other website) is incorporated into, or forms part of, this Announcement.
This Announcement has been prepared for the purposes of complying with
applicable law and regulation in the United Kingdom and the information
disclosed may not be the same as that which would have been disclosed if this
Announcement had been prepared in accordance with the laws and regulations of
any jurisdiction outside of the United Kingdom.