BlackRock Trust's NAV Reaches 223.31p After Share Buyback

BlackRock Sustainable American Income Trust PLC announces a share buyback of 35,000 ordinary shares, resulting in a net asset value (NAV) of 223.31p capital only and 223.93p including current year income as of May 13, 2024, with the trust holding 23.45% of its total issued share capital in treasury after settlement. This development has implications for investors and the broader financial market, potentially influencing investment decisions and having a ripple effect on the sector." This description focuses on the primary topic of the share buyback and its impact on the trust's NAV, while also highlighting the main entity involved (BlackRock Sustainable American Income Trust PLC) and the context of the financial market. The description also mentions the significant action of the share buyback and its consequences, including the potential influence on investment decisions and the broader market.

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Bijay Laxmi
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BlackRock Trust's NAV Reaches 223.31p After Share Buyback

BlackRock Trust's NAV Reaches 223.31p After Share Buyback

BlackRock Sustainable American Income Trust PLC's net asset value (NAV) reached 223.31p capital only and 223.93p including current year income as of May 13, 2024, following a share buyback of 35,000 ordinary shares. The unaudited NAV figures were calculated with investments valued on a bid price basis.

Why this matters: This development has implications for investors and the broader financial market, as it affects the trust's overall value and potentially influences investment decisions. The share buyback may also have a ripple effect on the market, impacting other companies and investors in the sector.

The trust purchased the 35,000 shares at an average price of 204 pence per share to be held in treasury. Following settlement of the purchase on May 15, 2024, the issued share capital of the trust will be 76,824,163 ordinary shares, excluding 23,537,142 shares held in treasury.

Shares held in treasury do not carry any voting rights. After the settlement, 23.45% of the trust's total issued share capital of 100,361,305 ordinary shares, including treasury shares, will be held in treasury.

BlackRock Sustainable American Income Trust PLC, with LEI 549300WWOCXSC241W468, is managed by BlackRock Investment Management (UK) Limited. Graham Venables serves as the Company Secretary and can be reached at 0203 649 3432 for any inquiries.

The NAV figures provided should be used for indicative purposes only and independently verified before making investment decisions. Hargreaves Lansdown cannot guarantee the data's accuracy or completeness and accepts no responsibility for its use. The news service is operated by Digital Look Ltd, and content redistribution is prohibited without prior written consent.

In summary, BlackRock Sustainable American Income Trust PLC's net asset value reached 223.31p capital only and 223.93p including current year income on May 13, 2024, after conducting a buyback of 35,000 ordinary shares. The share purchase, settled on May 15, will result in the trust holding 23.45% of its total issued share capital in treasury.

Key Takeaways

  • BlackRock Sustainable American Income Trust's NAV reached 223.31p capital only and 223.93p including current year income.
  • The trust bought back 35,000 ordinary shares at an average price of 204p per share.
  • After settlement, 23.45% of total issued share capital will be held in treasury.
  • The trust's issued share capital will be 76,824,163 ordinary shares, excluding treasury shares.
  • The share buyback may impact investment decisions and the broader financial market.