BLACKROCK EMERGING EUROPE PLC
Interim Management Statement - 3 months to 31 October 2013
To the members of BlackRock Emerging Europe 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 August 2013 to
31 October 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 is available on the Manager's website
The Company's objective is to achieve long term capital growth, principally by
investing in companies that do business primarily in Eastern Europe, Russia,
Central Asia and Turkey.
One Three One Three *Since
Month Months Year Years 30.04.09
Share Price 7.8% 6.8% 15.7% -4.4% 96.9%
Net Asset Value 5.1% 6.0% 11.6% -3.7% 88.4%
MSCI EM Europe 10/40 (NR) 5.8% 5.7% 9.4% 0.0% 77.1%
* BlackRock took over the investment management of the Company with effect from
1 May 2009.
All performance figures are in sterling terms on a total return basis.
FifteenLargest Equity Holdings at 31 October2013
Company Country of risk Total market
Sberbank Russia 11.7
Gazprom Russia 10.2
Surgutneftegaz Russia 7.1
Turkiye Garanti Bankasi Turkey 6.1
Dragon Oil Turkmenistan 5.9
Powszechna Kasa Oszczednosci Poland 5.4
Yandex Russia 5.2
Magnit Russia 4.9
OTP Bank Hungary 4.3
Turkcell Iletism Hizmet Turkey 4.0
MHP Ukraine 3.6
Moscow Exchange Russia 3.6
Jeronimo Martins Poland 3.4
Koza Altin Isletmeleri Turkey 3.0
Mail Ru Russia 2.9
Financial position and performance as at 31 October 2013
Gross Assets (including current year revenue) £113.0m
Net asset value per share-capital only 307.14p
Net asset value per share-cum income (1) 311.77p
Share Price 289.00p
Ordinary Shares in Issue (2) 36,242,928
Gross market exposure (3) 103.3%
Discount to NAV (4) 7.3%
1. Includes year to date net revenue equal to 4.63p per share.
2. Excluding 5,400,000 shares held in treasury.
3. Long positions plus short positions as a percentage of net assets.
4. Discount (share price to cum income NAV).
Material Events & Transactions
Half Yearly Financial Report
The Company announced its half yearly financial results for the six months
ended 31 July 2013 on 17 September 2013.
Net Asset Value
The Company announces its NAV on a daily basis, which can be accessed via
http://www.beepplc.co.uk under the "Announcements" tab.
The unaudited net asset value for BlackRock Emerging Europe plc at close of
business on 2 December 2013 was:
298.13p per share (pence sterling) - Capital only
302.34p per share (pence sterling) - Cum income
There were no other material events or transactions during the three months to
31 October 2013 nor was the Company involved in any material transactions
during the period other than the purchase and sale of securities undertaken in
the normal course of its business.
The Board is not aware of any other material events or transactions occurring
between 31 October 2013 and the date of publication of this interim management
statement which would have a material impact on the financial position of the
Latest information is available by typing,
on the internet, "BLRKINDEX" on Reuters, "BLRK" on Bloomberg or "8800" on Topic
A B Powley
BlackRock Investment Management (UK) Limited, Company Secretary
Tel: 020 7743 5610
3 December 2013
-0- Dec/03/2013 15:33 GMT
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