Not for release, publication or distribution in or into the United States, Canada, Australia or Japan 20 January 2014 BlackRock Hedge Selector Limited Results of March 2014 Redemption Background As approved at the Extraordinary General Meeting of the Company on 11 April 2013, the Company has implemented a discretionary quarterly Redemption Mechanism for up to a maximum of 20 per cent. of the UK Emerging Companies Shares in issue at the relevant Redemption Notification Date. All redemptions are implemented at the absolute discretion of the Directors, who intend to exercise this discretion to the extent that shares have traded at an average discount over the relevant calculation period. For the March 2014 Redemption, the Directors exercised their discretion to invite UK Emerging Companies Shareholders to request the redemption of up to a maximum of 20 per cent. of the shares in issue as at 17 January 2014 (excluding treasury shares). The March 2014 Redemption for up to 5,187,501 UK Emerging Companies Shares was undersubscribed and holders of 112,277 UK Emerging Companies Shares (0.4% of the UK Emerging Companies Shares excluding treasury shares) elected to redeem their holding. The redemption will be satisfied in full. The Redemption Valuation Date for the purposes of calculating the net asset value of the Company's UK Emerging Companies Shares to determine redemption proceeds payable will be 31 March 2014. It is expected that shareholders will receive proceeds of the redemption on or around 16 April 2014. The proceeds will be equivalent to the Net Asset Value of the UK Emerging Companies Shares at 31 March 2014 less the attributable costs of redemption which the Directors may in their absolute discretion deem appropriate, multiplied by the number of shares redeemed. The redeemed shares will be cancelled. Therefore following implementation of the March 2014 Redemption, the Company will have 25,825,228 UK Emerging Companies Shares in issue (excluding shares held in treasury) (all on the basis that there are no other movements in the Company's issued share capital between the date of this announcement and the implementation date of the December redemption). The Company currently holds an additional 2,593,750 UK Emerging Companies Shares in Treasury. Definitions Terms defined in the Circular have the same meaning when used herein unless the context otherwise requires. Enquiries Ian Webster - 01534 600 802 BlackRock (Channel Islands) Limited Will Rogers - 020 7397 1920 Sapna Shah - 020 7397 1922 Cenkos Securities plc
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