PR Newswire
London, July 28
NET ASSET VALUE + GREEK EXPOSURE UPDATE BLACKROCK EMERGING EUROPE PLC The unaudited net asset values for BlackRock Emerging Europe plc at close of business on 27 July 2015 were: 343.31c per share (US cents) - Capital only 220.44p per share (pence sterling) - Capital only 347.66c per share (US cents) - Including current year income 223.23p 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 27 July 2015 the Company had exposure to three Greek securities which represented 4.57% of the NAV, made up as follows: National Bank of Greece ADR 1.64% Motor Oil Hellas 2.00% Global X FTSE GREECE 20 ETF 0.93% It should be noted that the National Bank of Greece holding is held via an ADR which is traded on the New York Stock Exchange. As at 27 July the stock traded at comparable volumes with adequate liquidity and hence the bid market price is being used to value this stock. The Global X FTSE GREECE 20 ETF is traded on the New York Stock Exchange. As at 27 July the stock traded at comparable volumes with adequate liquidity and hence 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 to the price as at the close of business on 26th June 2015. The Board's valuation is based on advice from the BlackRock Pricing Committee which, given the market closure and illiquidity for many Greek assets, is applying a fair valuation approach for such assets. The approach considers, inter alia, the trading in a number of proxies which gives the Committee a basis for pricing all instruments as necessary.