BlackRock 1999 Term Trust to Terminate On Schedule and to Stop Trading December 8, 1999.NEW YORK--(BUSINESS WIRE)--Nov. 24, 1999-- BlackRock Financial Management, Inc. and the Board of Directors of the BlackRock 1999 Term Trust Inc. (NYSE NYSE See: New York Stock Exchange : BNN BNN Boston Neighborhood Network BNN Boundary Network Node (IBM) BNN Back-Propagation Neural Network BNN Biological Neural Network BNN Bart's Neverending Network (public-service TV network in The Netherlands) ; CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. : 09247T 100) are pleased to announce that the Trust is on schedule and on target to achieve its primary investment objective of returning $10 per share to shareholders upon termination. In connection with the Trust's scheduled plan of liquidation adopted by the Trust's Board of Directors, the Trust's Common Stock will stop trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. at the close of business on Wednesday, December 8, 1999. The Common Stock will continue to trade "Regular Way" through December 8, 1999 and will be suspended from trading before the opening on December 9, 1999. Shareholders of record on December 7, 1999 will receive a distribution payable December 16, 1999 representing the December monthly dividend of $0.03333 per share. Additionally, all shareowners of record on December 8, 1999 will receive a distribution on December 16, 1999 representing a liquidating distribution in an amount equal to at least $10 per share representing substantially all of the Trust's net assets Net assets The difference between total assets on the one hand and current liabilities and noncapitalized long-term liabilities on the other hand. net assets See owners' equity. . In 1988 BlackRock introduced the first "term trust," which is a closed-end mutual fund with a clearly defined maturity date. The BlackRock 1999 Term Trust Inc. commenced operations in December of 1992 with the investment objective of returning $10 a share on or before December 31, 1999, while providing a monthly income. BlackRock (NYSE: BLK BLK Black BLK Blank BLK Block BLK Bulk BLK Blocked Shot (basketball) BLK Blocked Kick (football) BLK Blackpool, England, United Kingdom - Blackpool (Airport Code) ) is one of the largest publicly traded investment management firms in the United States with $148.1 billion of assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. as of September 30, 1999. BlackRock manages assets on behalf of more than 3,000 institutions and 150,000 individuals through a variety of equity, fixed income, liquidity and alternative investment separate accounts and mutual funds, including the Company's flagship fund families, BlackRock Funds and Provident Institutional Funds. In addition, risk management and advisory services are provided to a growing number of large institutional investors. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion