BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC
Result of General Meeting /Conversion prices
11 September 2009
BLACKROCK LATIN AMERICAN INVESTMENT TRUST PLC (the "Company")
Placing of US$80,000,000 3.5 per cent Convertible Bonds due 2015 (the "Bonds")
The Resolutions to approve the issue of the Bonds were passed at the General
Meeting held earlier today.
The conversion price for conversions between 22 September 2009 and 15 September
2012 inclusive will be US$8.98, and between 15 September 2012 and 1 September
2015 will be US$9.83. These conversion prices have been determined using the
cum income NAV as at 10 September of 854.94 cents per share.
The Bond issue was significantly oversubscribed and consequently there has been
a scaling back in accordance with the policy set out in the Circular.
In accordance with paragraph 9.6.2 of the Listing Rules, two copies of the
resolutions approved at the General Meeting have been submitted to the UK
Listing Authority and will shortly be made available for inspection via the UK
Listing Authority's Document Viewing Facility, which is situated at:
Financial Services Authority
25 The North Colonnade
Canary Wharf
London E14 5HS
Peter Burnell, Chairman of the Company, commented:
"We are delighted that the Bond issue has been a success and has provided the
Company with some significant new investors and longer term financing at a low
interest rate."
The Bonds have been allotted conditional on admission and application has been
made for admission of 800 Bonds to the Official List and to trading on the
Professional Securities Market of the London Stock Exchange. Dealings in these
Bonds are expected to commence on 15 September 2009.
Defined terms used in this announcement shall, unless the context otherwise
requires, bear the meanings given to them in the Circular dated 18 August 2009.
For further information, please contact:
BlackRock Investment Management (UK) Limited
Jonathan Ruck Keene - 020 7743 3000
Cenkos Securities Plc
Charlie Ricketts - 0207 397 1910
Will Rogers - 020 7397 1920
Peter Hindmarsh - 020 7397 1983
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