BlackRock Announces Additional Details Related to Proposed Reorganizations of Certain BlackRock California Tax-Exempt Closed-...
29 Décembre 2009 - 1:45AM
Business Wire
BlackRock Advisors, LLC announced, at a special meeting held
today, that the proposed reorganization (the “Reorganization”) of
BlackRock California Investment Quality Municipal Trust Inc. (NYSE
Amex:RAA) into BlackRock California Municipal Income Trust
(NYSE:BFZ) failed to receive sufficient RAA common shareholder
votes required to approve the Reorganization. Consequent to today’s
announcement, the Reorganization will not occur, and RAA will
continue to be managed according to its investment guidelines.
The announcement made today with respect to RAA will not affect
the reorganization of each of BlackRock California Municipal Income
Trust II (NYSE Amex:BCL), BlackRock California Insured Municipal
Income Trust (NYSE:BCK) and BlackRock California Municipal Bond
Trust (NYSE:BZA) into BFZ, as announced on November 30, 2009. It is
currently expected that these reorganizations will be concluded on
or about January 29, 2010, subject to all regulatory requirements
and customary closing conditions being satisfied. Each of these
reorganizations will occur based on the relative net asset values
of BCL, BCK, BZA and BFZ.
This communication is not intended to, and shall not, constitute
an offer to purchase or sell shares of any of the BlackRock funds.
Investors should consider the investment objectives, risks, charges
and expenses of their fund(s) carefully and consider in its
entirety the Joint Proxy Statement/Prospectus relating to the
reorganizations which contains important information regarding the
investment objectives and policies, risks, charges, expenses and
other important information about BFZ as the combined fund.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. With approximately $3.2 trillion under management as of
September 30, 2009 (pro forma), BlackRock offers products that span
the risk spectrum to meet clients’ needs, including active,
enhanced and index strategies across markets and asset classes.
Products are offered in a variety of structures including separate
accounts, mutual funds, iShares® (exchange traded funds), and other
pooled investment vehicles. BlackRock also offers risk management,
advisory and enterprise investment system services to a broad base
of institutional investors through BlackRock Solutions®.
Headquartered in New York City, the firm has over 8,500 employees
in 24 countries. For additional information, please visit
BlackRock’s website at www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock or BCL,
BCK, BZA, RAA or BFZ (collectively, the “Funds”) may make, may
contain certain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to the
future financial or business performance, strategies or
expectations of BlackRock or the Funds. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and neither BlackRock nor any of the Funds assumes a duty to
or undertakes to update forward-looking statements. Actual results
could differ materially from those anticipated in forward-looking
statements and future results could differ materially from
historical performance.
With respect to each Fund, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes in political,
economic or industry conditions, the interest rate environment or
financial and capital markets, which could result in changes in the
Fund’s net asset value; (2) the performance of the Fund’s
investments; (3) the impact of increased competition; (4) the
extent and timing of any Fund distributions or share repurchases;
(5) the impact of legislative and regulatory actions and reforms
and regulatory, supervisory or enforcement actions of government
agencies relating to the Funds or BlackRock, as applicable; and (6)
BlackRock’s ability to attract and retain highly talented
professionals.
The Annual and Semi-Annual Reports and other regulatory filings
of the BlackRock Closed-End Funds with the Securities and Exchange
Commission (“SEC”) are accessible on the SEC's web site at
www.sec.gov and on BlackRock’s web site at
www.blackrock.com, and may discuss these or other factors
that affect the BlackRock Closed-End Funds. The information
contained on our web site is not a part of this press release.
The Joint Proxy Statement/Prospectus relating to the proposed
reorganization contains important information and shareholders are
urged to read it. Free copies of the Joint Proxy
Statement/Prospectus are available by calling BlackRock
at (800) 882-0052 or on the SEC's web site at
www.sec.gov.
Blackrock California Investment Quality Municipal Trust (AMEX:RAA)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Blackrock California Investment Quality Municipal Trust (AMEX:RAA)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024