BlackRock Latin American Investment Trust Plc - Result of Tender Offer
PR Newswire
LONDON, United Kingdom, May 29
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO MAY RESULT IN THE CONTRAVENTION OF ANY REGISTRATION OR OTHER LEGAL REQUIREMENT OF SUCH JURISDICTION OR CONTRAVENTION OF ANY LEGAL REQUIREMENT IN THE UK
29 May 2026
BlackRock Latin American Investment Trust plc
(LEI: UK9OG5Q0CYUDFGRX4151)
Results of the Tender Offer
Further to the announcement on 5 January 2026 and the publication of the circular on 26 March 2026 (the "Tender Circular"), BlackRock Latin American Investment Trust plc (the "Company") today announces the results of the tender offer to purchase up to 24.99 per cent. of the Company's Ordinary Shares in issue (excluding treasury shares) (the "Tender Offer").
A total of 8,702,558 Ordinary Shares were validly tendered under the Tender Offer, representing approximately 29.6 per cent. of the Company's issued share capital, excluding Ordinary Shares held in treasury. The maximum number of Ordinary Shares in respect of which tenders will be satisfied, representing 24.99 per cent. of the Ordinary Shares in issue as at the publication date of the Tender Circular (26 March 2026) is 7,359,215 which has resulted in Total Excess Tenders of 1,343,343 Ordinary Shares.
Eligible Shareholders who validly tendered a percentage of their Ordinary Shares equal to or less than their Basic Entitlement shall have all tendered Ordinary Shares purchased in full under the Tender Offer. Following a scale back exercise, eligible Shareholders who validly tendered a percentage of Ordinary Shares greater than their Basic Entitlement will have a number of Ordinary Shares equal to their Basic Entitlement purchased in full plus approximately 76.8 per cent. of their Individual Excess Tenders, in accordance with the scaling back process described in the Tender Circular.
After taking account of the rounding down of each valid applicant's participation to the nearest whole Ordinary Share, the Company will purchase in aggregate 7,359,215 Ordinary Shares under the Tender Offer.
Tender price
The price at which tendered Shares will be purchased (the "Tender Price") will be equal to 98 per cent. of the latest published unaudited Net Asset Value per Ordinary Share as at the Calculation Date of 30 May 2026, adjusted for the estimated related portfolio realisation costs per Tendered Share, as calculated by the Company. The final Tender Price for successfully tendered Ordinary Shares will be announced by the Company on 2 June 2026.
Payments to Shareholders by cheque (in the case of certificated holders) and through CREST (in the case of uncertificated holders), are expected to be paid as soon as practicable after 3 June 2026.
Balancing Ordinary Share certificates will be despatched (in the case of certificated holders) and CREST accounts will be settled (in the case of uncertificated holders) on or as soon as practicable after 3 June 2026.
Defined terms used in this announcement have the meanings given in the Tender Circular unless the context otherwise requires.
Enquiries:
| BlackRock Investment Management (UK) Limited Sarah Beynsberger | 020 7743 2639 |
| Cavendish Capital Markets Ltd Andrew Worne Tunga Chigovanyika | 020 7397 1912 020 7397 1915 |
