Statement re redemption of shares


 
TIDMBARS TIDMBARE TIDMBARU 
 
BlackRock Absolute Return Strategies Limited (the "Company") 
 
6 February 2012 
 
Redemption of Shares 
 
Further to the Company's announcement on 21 November and the powers granted to 
the Board at the Company's extraordinary general meeting in August, the Company 
today announces that approximately 73.5 per cent. of the Company's issued share 
capital will be redeemed at close of business on 10 February 2012 (the 
"Redemption Date") by way of a compulsory partial redemption of shares by 
reference to the unaudited monthly NAV of the Company as at December 2011 (the 
"First Redemption"). 
 
The First Redemption will be effected pro rata to holdings of shares on the 
register at the close of business on the Redemption Date (which is the record 
date for the purposes of the First Redemption), being 10 February 2012. The 
payments made to shareholders of each share class in respect of redeemed shares 
will be as follows: 
 
  * GBP70,929,969 to the Sterling share class (equivalent to GBP9.9465 per 
    share); 
 
  * USD12,939,932 to the Dollar share class (equivalent to $10.1927 per share); 
    and 
 
  * EUR12,151,515 to the Euro share class (equivalent to EUR9.9256 per share), 
 
Fractions of Shares will not be redeemed and so the number of shares to be 
redeemed for each shareholder will be rounded down to the nearest whole number 
of shares. The amount to be applied to the partial redemption of shares 
comprises the monies from the realisation of the Company's investments to be 
received up to and including 2 February 2012 pursuant to the winding down of 
the Company, less any funds used or required to settle any liabilities 
(including the estimated ongoing day to day running costs of the Company and 
the costs and expenses of this partial redemption). 
 
As at today's date, the Company has 9,702,237 Sterling shares, 1,727,243 Dollar 
shares and 1,665,646 Euro shares in issue of which none are held in treasury. 
All of the shares redeemed on the Redemption Date will be cancelled. 
 
The shares of each of the Company's share classes will be disabled in CREST on 
the Redemption Date and the existing ISIN numbers JE00B2PXDB91 (Sterling), 
JE00B2PXNQ43 (Dollar) and JE00B2PXNC07 (Euro) will expire. The new ISIN numbers 
JE00B7GVN842 (Sterling), JE00B7GVP227 (Dollar) and JE00B7GVN396 (Euro) in 
respect of the remaining Shares which have not been redeemed will be enabled 
and available for transactions from and including 13 February 2012. Up to and 
including the Redemption Date, Shares will be traded under the Old ISINs and as 
such, a purchaser of such Shares would have a market claim for a proportion of 
the redemption proceeds. CREST will automatically transform any open 
transactions as at the Redemption Date into the New ISINs. 
 
Currency Hedging 
 
In the Company's announcement on 21 November, the Board advised that it 
anticipated that the Company's hedging programme would become inefficient as 
the Company's portfolio was realised. Accordingly, the Board advises that the 
Company's currency hedging programme has now been terminated. 
 
Consequently, holders of Sterling and Euro class shares will be exposed to 
Sterling:US Dollar and the Euro:US dollar exchange rate fluctuations 
respectively. 
 
Conversion between share classes 
 
The Company's Euro and US Dollar share classes are expected to be merged into 
the Sterling class in March. A further announcement will be made about the 
Conversion in due course. 
 
Ian Webster 
BlackRock (Channel Islands) Limited, Secretary 
 
Enquiries 
Will Rogers - 020 7397 1920 
Tommy O'Sullivan - 020 7397 1922 
Chris Lunn - 020 7397 1912 
Cenkos Securities plc 
 
 
END

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