BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC: Interim Management Statement
BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC: Interim Management Statement BLACKROCK COMMODITIES INCOME INVESTMENT TRUST PLC
Interim Management Statement - 3 months to 28 February 2013
To the members of BlackRock Commodities Income Investment Trust plc
This interim management statement has been produced solely to provide additional information to shareholders as a body to meet the relevant requirements of the UK Listing Authority's Disclosure & Transparency Rules. It should not be relied on by any other party for any other reason.
This interim management statement relates to the period from 1 December 2012 to 28 February 2013, and contains information that covers this period, and up to the date of publication of this interim management statement. Please note more detailed performance information, including the latest month end announcements are available on the Manager's website - www.blackrock.co.uk/brci.
The Company's objectives are to achieve an annual dividend target and, over the long term, capital growth by investing primarily in securities of companies operating in the mining and energy sectors. The Company is managed by Richard Davis of BlackRock.
Cumulative Performance (%):
One Three Six One Five Month Months Months Year Years
Net Asset Value 0.2 5.9 9.4 -4.8 -7.5 Share Price -2.8 0.5 7.4 -5.3 -8.6
All performance figures are in £ on a total return basis.
Ten Largest Equity Holdings at 28 February 2013(in alphabetical order)
Anadarko Petroleum BHP Billiton BP Chevron ENI ExxonMobil Freeport-McMoran Peyto Exploration & Development Rio Tinto Total
Financial position and performance as at 28 February 2013
Gross Assets (£m)* 121.7
Short term borrowings (£m) 5.0
Net asset value-Capital only 122.96p
Net asset value-Including income 123.84p
Share Price 121.75p
Ordinary Shares in Issue 94,258,000
Actual Gearing 4.1%
Discount to NAV-Including income -1.7%
Discount to NAV-Capital only -1.0%
*includes current year revenue
Material Events& Transactions
Material events or transactions, during the three months to 28 February 2013, and from 1 March 2013 to the date of publication of this report are set out below. The Company was not involved in any other material transactions during the period except for the purchase and sale of securities undertaken in the normal course of its business.
The fourth interim dividend in respect of the year ended 30 November 2012 of 1.5875 pence per share was declared on 10 December 2012, and paid on 24 January 2013 to shareholders on the register at the close of business on 21 December 2012.
The first interim dividend in respect of the year ending 30 November 2013 of 1.475 pence per share was declared on 8 March 2012 to be paid on 17 April 2013 to shareholders on the register at the close of business on 22 March 2013.
On 6 December 2013 the Board announced that it had decided not to proceed with the semi-annual tender offer in February 2013.
The Company announced its financial results for the year ended 30 November 2012 on 18 January 2013.
Annual General Meeting ("AGM")
At the Company's AGM held on Friday, 8 March 2013, all resolutions were passed.
Change in NAV and Share Price
For the period 1 March 2013 to 25 March 2013 the Company's NAV fell by 2.1% and the share price by 2.3%.
The Board is not aware of any material events or transactions, except as disclosed herein, occurring between 1 March 2012 and the date of publication of this interim management statement which would have a material impact on the financial position of the Company.
Kerry Higgins Secretary Tel: 020 7743 1089
Date: 26 March 2013
Please note more detailed performance information is available on the Investment Manager's website: www.blackrock.co.uk/its/brci . Neither the contents of the Manager's website nor the contents of any website accessible from hyperlinks on the Manager's website (or any other website) is incorporated into, or forms part of, this announcement.
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