BLACKROCK GREATER EUROPE INVESTMENT TRUST PLC: Interim Management Statement
BLACKROCK GREATER EUROPE INVESTMENT TRUST PLC
Interim Management Statement - 3 months to 31 May 2013
To the members of BlackRock Greater Europe 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 March 2013 to
31 May 2013, and contains information that covers this period, and up to the
date of publication of this interim management statement.
The Company invests in a combination of large, mid and small capitalisation
European companies, together with some investment in the developing markets
of Europe. The portfolio is managed by Vincent Devlin & Samuel Vecht of
BlackRock Investment Management (UK) Limited.
Cumulative Performance (%):
One Three One Three Since
Month Months Year Years Launch
(20 Sep 04)
Net Asset Value (Undiluted) 3.8% 3.5% 43.3% 49.0% 177.2%
Net Asset Value (Diluted) 3.4% 3.1% 42.8% 48.5% 176.3%
Share Price 3.7% 1.0% 43.7% 53.4% 164.1%
FTSE World Europe ex UK 3.2% 5.0% 43.3% 34.9% 116.0%
Sources: BlackRock and DataStream
All performance figures are in sterling terms on a total return basis.
Ten Largest Equity Holdings at 31 May 2013 (in alphabetical order)
Cie Financière Richemont
Financial position and performance as at 31 May 2013
Total Assets (£m) (including income) 307.7
Short term borrowings (£m) 30.7
Net asset value per share (undiluted and including income) 238.18p
Net asset value per share (diluted for subscription shares
and including income) 237.31p
Share Price 225.75p
Ordinary Shares in Issue* 116,285,355
Subscription Share Price 20.00p
Subscription Shares in Issue 23,254,813
Actual Net Gearing 11.1%
Discount to NAV (including income) 5.2%
Discount to NAV (including income and diluted for
subscription shares) 4.9%
Average Discount over the Period - Undiluted 4.8%
Average Discount over the Period - Diluted 4.7%
* Excluding 6,052,299 shares held in treasury
Material Events & Transactions
The Company announced its half yearly financial results for the six months
ended 28 February 2013 on 22 April 2013.
On 19 April 2013, the Company issued and allotted 23,254,813 subscription
shares to shareholders of the Company by way of a bonus issue.
Following the implementation of the tender offer on 10 June 2013, 7,636,639
ordinary shares were bought back and cancelled. In addition, the Company
cancelled 333,946 ordinary shares held in treasury on that date. Following the
implementation of the tender offer, the Company has 114,367,069 ordinary shares
in issue including 5,718,353 ordinary shares held in treasury.
There were no other material events or transactions, other than the purchase
and sale of securities undertaken in the normal course of business.
The Board is not aware of any significant events or transactions, except as
disclosed herein, occurring between 31 May 2013 and the date of publication of
this interim management statement which would have a material impact on the
financial position of the Company.
Tel: 020 7743 2427
15 July 2013
Please note more detailed performance information is available on the
Investment Manager's website: www.blackrock.co.uk/brge. Neither the contents of
the Manager's website not 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.
-0- Jul/15/2013 11:45 GMT
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