Contact:
1-800-882-0052
BlackRock
Global Equity Income Trust, BlackRock World Investment Trust and BlackRock
Global
Opportunities
Equity Trust Announce Shareholder Approval of Two Closed-End Fund
Mergers
New York, June 30, 2009 –
BlackRock Advisors, LLC today announced that shareholders of BlackRock Global
Equity Income Trust (NYSE:BFD), BlackRock World Investment Trust (NYSE:BWC) and
BlackRock Global Opportunities Equity Trust (NYSE:BOE) have approved the
reorganizations of each of BFD and BWC into BOE at a special meeting held
today.
It
is currently expected that the reorganizations will be concluded on or about
July 24, 2009, subject to all regulatory requirements and customary closing
conditions being satisfied. In connection with the reorganizations,
BOE will acquire substantially all of the assets and liabilities of BFD and BWC
in a tax-free transaction for common shares of BOE. Each
reorganization will occur based on the relative net asset values of BOE, BFD and
BWC.
This
communication is not intended to, and shall not, constitute an offer to purchase
or sell shares of any of the BlackRock funds, including BOE, the surviving fund
in the reorganizations. 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
BOE.
BOE’s
investment objective is primarily to seek current income and current gains, with
a secondary objective of long-term capital appreciation. BOE primarily invests
in equity securities and utilizes an option writing strategy to enhance current
gains.
About
BlackRock
BlackRock is one of the world’s largest
publicly traded investment management firms. At March 31, 2009, BlackRock’s
assets under management were $1.283 trillion. The firm manages assets on behalf
of institutions and individuals worldwide through a variety of equity, fixed
income, cash management and alternative investment products. In addition, a
growing number of institutional investors use BlackRock Solutions® investment system, risk management and
financial advisory services. The firm is headquartered in New York City and has employees in 21 countries
throughout the U.S., Europe and Asia Pacific. For additional
information, please visit the firm's website at www.blackrock.com.
Forward-Looking
Statements
This
press release, and other statements that BlackRock or BFD, BWC or BOE (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.
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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 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; (6) BlackRock’s ability to attract and retain highly talented
professionals; (7) and the impact of legislative and regulatory actions and
reforms and regulatory, supervisory or enforcement actions of government
agencies relating to BlackRock, Barclays PLC, Bank of America, Merrill Lynch or
PNC.
The
Annual and Semi-Annual Reports and other regulatory filings of the BlackRock
Closed-End Funds with the 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 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.
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