Blackrock Frontiers IT - new offer C shares.

[stevensfo]

I just had a message from Halifax about this IT (BRFI) and an offer for new C shares at 1 pound/share.

It's one of my long term 'Buy and forget' ITs and I'm very happy to hold, but I haven't a clue about this offer. Does anyone hold this IT and could shed some light on whether it's worth applying for the new shares?

Steve

https://www.blackrock.com/uk/individual ... s-2018.pdf

[nmdhqbc]

I too am not not sure I understand if fully but.. As far as I can tell they're just getting more cash to deploy at the same time as they takeover the other trusts funds. I'm not sure we benefit from taking this offer as it says...

When converted, each holder of C shares will receive such number of Ordinary shares as equals the number of C shares held by them multiplied by the Net Asset Value per C share and divided by the Net Asset Value per Ordinary share, at a date shortly prior to conversion.

I read that as you get what you pay for. No discount. Although I'm not sure if we'd still pay stamp duty / broker fee by taking up this offer. Maybe that's a benefit vs buying more shares the normal way.

Any input from someone who actually knows would be great.

[nmdhqbc]

Actually HL says it's currently trading at a premium of 1.81% so I guess we gain by not paying that. But who knows what that will be the day the C shares convert.