BLACKROCK HEDGE SELECTOR LTD: Doc re Cash Exit Results

BlackRock Hedge Selector Ltd (the "Company")                   
                           Cash Exit Results                                
On 17 December 2012, the Company provided Cash Fund Shareholders with details
of the terms and conditions for participating in a Cash Fund Shares Exit. 
The deadline for Cash Fund Shareholders wishing to participate to submit their
Redemption Notices, as extended by an announcement of 29 January 2013, was 1.00
p.m. (Jersey time) on 4 February 2013. 
Redemption requests have been received from shareholders in respect of
7,281,871 Cash Fund Shares. Payment of the redemption proceeds (based on the
Net Asset Value of Cash Fund Shares as at 31 January 2013, less the costs of
implementing such disposal and any other deductions as the Directors, in their
absolute discretion, deem appropriate) in respect of these redemption requests
will be made to Cash Fund Shareholders on or around 11 February 2013, in the
case of uncertificated Cash Fund Shareholders, and commencing 18 February 3013
in the case of Cash Fund Shareholders. 
In the announcement made on 17 December 2012, Cash Fund Shareholders were
informed that if they did not participate in the Cash Exit, any Cash Fund
Shares remaining in issue following the Cash Exit would be COMPULSORILY
CONVERTED to UK Emerging Companies Shares, pursuant to the powers contained in
the Company's Articles. Holders of 31,631 Cash Fund Shares did not elect to
participate in the Cash Exit, and these shares will therefore be compulsorily
converted into UK Emerging Companies Shares. This conversion will be
implemented on or shortly after 11 February 2013. The number of UK Emerging
Companies Shares that a Shareholder will receive as a result of a conversion
will be equal to: 
A
-
B 
where: 
A = the aggregate Net Asset Value of the Cash Fund Shares to be converted as at
31 January 2013 less: (i) the costs and expenses of effecting the conversion
and (ii) such other amount as the Directors may, in their absolute discretion,
determine is appropriate to ensure fair treatment of the existing holders of UK
Emerging Companies Shares. 
B = the Net Asset Value per Share of the UK Emerging Companies Shares as at 31
January 2013. 
Following this conversion the Company will seek the necessary clearances to
delist the Cash Fund shares in due course. 
New discount management arrangements 
As previously announced, the Board recognises the importance that shareholders
place on liquidity and discount control. The Board is currently taking legal,
financial and taxation advice in relation to potential discount control
mechanisms and will make a further announcement in due course.    
Enquiries: 
Ian Webster - 01534 600 802
BlackRock Investment Management (Channel Islands) Limited 
Will Rogers - 020 7397 1920
Sapna Shah - 020 7397 1922
Cenkos Securities plc 
Date: 5 February 2013 
END 
-0- Feb/05/2013 16:33 GMT
 
 
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