15 Jul 2015 15:52
BLACKROCK EMERGING EUROPE PLC - Net Asset Value(s) + Greek Exposure UpdateBLACKROCK EMERGING EUROPE PLC - Net Asset Value(s) + Greek Exposure Update
PR Newswire
London, July 14
NET ASSET VALUE + GREEK EXPOSURE UPDATE BLACKROCK EMERGING EUROPE PLC The unaudited net asset values for BlackRock Emerging Europe plc at close ofbusiness on 14 July 2015 were: 373.28c per share (US cents) - Capital only239.76p per share (pence sterling) - Capital only376.63c per share (US cents) - Including current year income241.91p per share (pence sterling) - Including current year income Notes: 1. Investments have been valued on a bid price basis. 2. Revenue items included in net asset value. 3. The Company's share capital consists of 36,242,928 Ordinary shares(excluding 5,400,000 ordinary shares held in treasury) carrying one vote each. 4. As at the close of business on 14th July 2015 the Company had exposureto three Greek securities which represented 4.73% of the NAV, made up asfollows: National Bank of Greece ADR 1.94%Motor Oil Hellas 1.89%Global X FTSE GREECE 20 ETF 0.90% It should be noted that the National Bank of Greece holding is held via an ADRwhich is traded on the New York Stock Exchange. Yesterday, the stock traded atcomparable volumes with adequate liquidity and hence the bid market price isbeing used to value this stock. The Global X FTSE GREECE 20 ETF is traded on the New York Stock Exchange.Yesterday, the stock traded at comparable volumes with adequate liquidity andhence the bid market price is being used to value this stock. For the holding in Motor Oil Hellas, a fair value discount has been applied tothe price as at the close of business on 26th June 2015. The Board's valuationis based on advice from the BlackRock Pricing Committee which, given the marketclosure and illiquidity for many Greek assets, is applying a fair valuationapproach for such assets. The approach considers, inter alia, the trading in anumber of proxies which gives the Committee a basis for pricing all instrumentsas necessary.