15 January
2019
BlackRock Frontiers Investment Trust
plc
C Share Conversion Results
LEI: 5493003K5E043LHLO706
Further to the announcement on 24
December 2018 that over 85 per cent. of the Net Proceeds of
the recent issue of C Shares have been invested, the Board of
BlackRock Frontiers Investment Trust plc (the "Company") is pleased
to announce the following information in relation to the C Share
conversion.
The Conversion Ratio, calculated in accordance with the
Company's Articles, as summarised in the Company's prospectus dated
19 October 2018 (the "Prospectus"),
is 0.7547 Ordinary Shares for each C Share held on the record date
of 11 January 2019. The NAVs per
share of the Ordinary Shares and the C Shares used to determine the
Conversion Ratio were 131.72 pence
and 99.41 pence respectively.
Entitlements will be rounded down to the nearest whole Ordinary
Share.
On the basis of the Conversion Ratio, a holder of 1,000 C Shares
would receive 754 new Ordinary Shares upon Conversion.
On the basis of the Conversion Ratio applications have been made
for 33,906,693 Ordinary Shares to be admitted to the premium
listing segment of the Official List of the UK Listing Authority
and to trading on the London Stock Exchange's main market for
listed securities ("Admission"). Admission is expected to
occur at 8.00 a.m. on 21 January 2019.
The Ordinary Shares arising on Conversion will rank pari
passu with, and will have the same rights as, the Ordinary
Shares of the Company already in issue, including the right to
receive dividends declared subsequent to Admission. For the
avoidance of doubt holders of C Shares will not be entitled to the
final 2018 dividend in respect of the year ended 30 September 2018, which is payable to Ordinary
Shareholders on the register on the record date of 4 January
2019.
With effect from 21 January 2019,
the total number of Ordinary Shares in issue will be 239,822,801
and the total number of voting rights in the Company will be
239,822,801. This figure may be used by shareholders as the
denominator for the calculations by which they will determine if
they are required to notify their interest in, or a change to their
interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules. As at the date of this announcement, no shares
are held in Treasury.
Unless otherwise defined, capitalised terms in this announcement
shall have the meaning given to them in the Prospectus.
Enquiries
BlackRock Investment Management (UK)
Limited
Simon White/Kevin
Mayger
020 7743 3000
Winterflood Investment Trusts (Corporate Broker)
Neil
Morgan
020 3100 0000