BRNE Blackrock New A

 
TIDMBRNE TIDMBRNS 
 
19 December 2013 
 
BLACKROCK NEW ENERGY INVESTMENT TRUST PLC (THE "COMPANY") 
 
PUBLICATION OF CIRCULAR 
 
The Company has today issued a circular (the "Circular") to its shareholders 
("Shareholders") in connection with recommended proposals for the 
reconstruction and winding up of the Company (the "Proposals"). 
 
The Proposals 
 
Under the Proposals, which will be effected by way of a scheme of 
reconstruction of the Company under section 110 of the Insolvency Act 1986, 
Shareholders will be able to elect: 
 
  - to realise all or some of their investment in the Company for cash (the 
    "Cash Option"); and/or 
 
  - subject to the Rollover Condition being met, to roll over all or some of 
    their investment into shares of the New Energy Fund, a sub-fund of 
    BlackRock Global Funds, a public limited company established under the laws 
    of the Grand Duchy of Luxembourg as an open-ended variable capital 
    investment company (the "New Energy Rollover Option"). 
 
The Board has determined that Shareholders who do not elect for the New Energy 
Rollover Option should receive cash. Shareholders who do not make a valid 
Election will be deemed to have elected for the Cash Option in respect of their 
entire holding of Shares. 
 
Restricted Persons will not be provided with a Form of Election and will be 
deemed to have made an Election for cash unless they are able to satisfy the 
Company and the Management Company that they are permitted to hold New Energy 
Fund Shares without breaching the laws of any relevant jurisdictions. 
 
The Circular contains details of the action which Shareholders should take in 
order to make an election for New Energy Fund Shares under the Proposals. If 
your Shares are held through one of the Savings Schemes, you should take the 
action set out in the section headed "Savings Scheme Participants" in Part II 
of the Circular. 
 
Subscription Shareholders 
 
Pursuant to the Proposals, Subscription Shareholders will have a fixed 
entitlement per Subscription Share calculated in accordance with Article 13.3.9 
of the Articles of Association (the Subscription Share Entitlement). The 
Subscription Share Entitlement will be calculated by reference to the middle 
market quotations (as derived from the Official List) for one Subscription 
Share for the 10 consecutive dealing days ending on the date on which the 
Proposals were announced, being 13 December 2013, and will be paid out of the 
Liquidation Fund on or following the Effective Date. 
 
General Meetings 
 
The implementation of the Proposals will require Shareholders to vote in favour 
of resolutions to be proposed at the Meetings which have been convened for 2 
p.m. on 21 January 2014, 12.15 p.m. on 6 February 2014 and 9.30 a.m. on 14 
February 2014. The notices convening the Meetings are set out in the Circular. 
The Meetings will be held at the offices of BlackRock Investment Management 
(UK) Limited, 12 Throgmorton Avenue, London EC2N 2DL. 
 
Expected Timetable 
                                                                           2014 
 
Latest time and date for receipt of Forms of              10 a.m. on 13 January 
Direction in respect of the Subscription 
Shareholder Meeting 
 
Latest time and date for receipt of Forms of               2 p.m. on 17 January 
Proxy in respect of the Subscription 
Shareholder Meeting 
 
Subscription Shareholder Meeting                           2 p.m. on 21 January 
 
Latest time and date for receipt of Forms of              10 a.m. on 28 January 
Direction in respect of the First General 
Meeting 
 
Latest time and date for receipt of Forms of           12.30 p.m. on 31 January 
Election or TTE Instructions and Application 
Forms (for the New Energy Rollover Option 
only) from Eligible Shareholders 
 
Latest time and date for receipt of Savings             5.00 p.m. on 31 January 
Scheme Forms of Election from Savings Scheme 
Participants 
 
Shares disabled in CREST*                               6.00 p.m. on 3 February 
 
Date from which it is advised that dealings                          4 February 
in Shares should only be for cash settlement 
and immediate delivery of documents of title 
 
Latest time and date for receipt of Forms of           12.15 p.m. on 4 February 
Proxy from Shareholders in respect of the 
First General Meeting 
 
Latest time and date for receipt of Forms of              10 a.m. on 5 February 
Direction in respect of the Second General 
Meeting 
 
Annual General Meeting                                 12.00 noon on 6 February 
 
First General Meeting                                  12.15 p.m. on 6 February 
 
Calculation Date                                close of business on 6 February 
 
Record Date for the calculation of              close of business on 6 February 
Shareholders' entitlements under the Scheme 
 
Ordinary Shares reclassified as Reclassified            8.00 a.m. on 7 February 
Shares in the Official List and dealings in 
Reclassified Shares commence** 
 
Latest time and date for receipt of Forms of           9.30 a.m. on 12 February 
Proxy from Shareholders in respect of the 
Second General Meeting 
 
Listing of Reclassified Shares and                    7.30. a.m. on 14 February 
Subscription Shares on the Official List 
suspended 
 
Second General Meeting                                 9.30 a.m. on 14 February 
 
Effective Date for implementation of the                            14 February 
Scheme and commencement of the liquidation 
 
Dealings in New Energy Fund Shares issued to                        17 February 
Eligible Shareholders under the Scheme 
commence 
 
Cancellation of listing of Reclassified                   8 a.m. on 17 February 
Shares and Subscription Shares on the 
Official List** 
 
Contract notes in respect of New Energy Fund                        17 February 
Shares issued under the Scheme despatched to         (or as soon as practicable 
Eligible Shareholders entitled thereto                             thereafter ) 
 
Cheques expected to be despatched and CREST         week commencing 17 February 
payments made to Shareholders in respect of 
cash Elections made under the Scheme 
 
Cheques expected to be despatched to Savings        week commencing 17 February 
Scheme Participants in respect of cash               (or as soon as practicable 
elections made or deemed to be made under the                      thereafter ) 
Scheme 
 
Cheques expected to be despatched to                week commencing 17 February 
Subscription Shareholders in respect of their 
Subscription Share Entitlement 
 
 
* For the avoidance of doubt, the Company's register of members will remain 
open until the Effective Date. 
 
** Reclassified Shares are a technical requirement of the Scheme and will be 
created if the resolutions to be proposed at the First General Meeting are 
passed and become effective. 
 
Each of the times and dates in the expected timetable may be extended or 
brought forward without further notice. If any of the above times and/or dates 
change, the revised time(s) and/or date(s) will be notified to Shareholders by 
an announcement through a Regulatory Information Service provider. Words and 
expressions defined in the Circular have the same respective meanings in the 
above expected timetable. 
 
A copy of the Circular will shortly be submitted to the National Storage 
Mechanism and will shortly be available for inspection at http://www. 
morningstar.co.uk/uk/NSM. 
 
Enquiries: 
 
Simon White     BlackRock Investment Management Tel: 020 7743 5284 
 
Alex Blake      Winterflood Investment Trusts   Tel: 020 3100 0297 
 
 
END 
 

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