BRNA Blackrock North American Income Trust Plc

THIS ANNOUNCEMENT SHOULD NOT BE DISTRIBUTED, FORWARDED TO OR TRANSMITTED, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MAY CONSTITUTE A VIOLATION OF THE SECURITIES LAWS OR REGULATIONS OF ANY SUCH JURISDICTION

31 July 2019

BlackRock North American Income Trust plc

(the "Company")

Publication of Circular to convene a General Meeting

Since the Company’s Annual General Meeting (“AGM”) held on 5 March 2019, its Ordinary Shares have consistently traded at a premium to the Net Asset Value per Ordinary Share, which indicates that there is ongoing investor demand for the Company.  In order to satisfy this demand, the Company has sold from treasury 5,975,000 Ordinary Shares in the period from the AGM to 30 July 2019 (being the latest practicable date prior to the publication of this announcement).  At the AGM, the Company obtained shareholder authority to issue and/or sell from treasury up to 6,929,900 Ordinary Shares on a non-pre-emptive basis which it expects to be fully utilised prior to the next AGM. The Company is therefore convening a General Meeting to obtain shareholder authorities to enable it to continue to issue and/or sell from treasury further Ordinary Shares.

Accordingly, the Company is pleased to announce that it has today published a circular (the “Circular”) convening a General Meeting on 28 August 2019 in order to seek Shareholder authority to issue and/or sell from treasury further Ordinary Shares on a non-pre-emptive basis.  As with the Ordinary Share issuances or sales from treasury to date, the Ordinary Shares will be issued or sold from treasury at prices not less than the last published Net Asset Value (cum-income) per Ordinary Share at the time the proposed allotment or sale from treasury is agreed and will therefore be accretive to the Net Asset Value per Ordinary Share.

The Circular sets out the Company's intention to call a General Meeting of Shareholders to be held at 12 Throgmorton Avenue, London EC2N 2DL at 9.30 a.m. on 28 August 2019 to consider and, if thought fit, approve an ordinary resolution empowering the Directors to allot, or sell from treasury, securities up to an amount equal to approximately 10 per cent. of the issued share capital, excluding treasury shares, of the Company as at 30 July 2019 and a special resolution to disapply pre-emption rights in respect of any such issuance or sale from treasury. Any authority granted to the Directors will be in substitution for the authorities granted at the AGM and will expire at the conclusion of the next annual general meeting of the Company to be held in 2020.

Expected Timetable:

A copy of the Circular and form of proxy have been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM. 

The Circular will also shortly be available on the Company's website at: www.blackrock.com/uk/brna/gmcircular.

Terms used in this announcement shall, unless the context otherwise requires, bear the meanings given to them in the Circular.

IMPORTANT INFORMATION

The content of this announcement has been prepared by, and is the sole responsibility of, BlackRock North American Income Trust plc. The information contained in this announcement is given at the date of its publication (unless otherwise marked) and is subject to updating, revision and amendment from time to time. Neither the content of the Company's website nor any website accessible by hyperlinks to the Company's website is incorporated in, or forms part of, this announcement. The distribution of this announcement into jurisdictions other than the United Kingdom may be restricted by law. Any failure to comply with these restrictions may constitute a violation of the securities laws or regulations of any such jurisdiction. In particular, this announcement should not be distributed, forwarded to or transmitted, directly or indirectly, in whole or in part, in, into or from the United States, Australia, Canada, Japan or the Republic of South Africa or any other jurisdiction where to do so may constitute a violation of the securities laws or regulations of any such jurisdiction. Cenkos Securities plc, which is authorised and regulated by the Financial Conduct Authority, is acting only for the Company in connection with the matters described in this announcement and is not acting for or advising any other person, or treating any other person as its client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of Cenkos Securities plc or advice to any other person in relation to the matters contained herein.

None of BlackRock Investment Management (UK) Limited, BlackRock Fund Managers Limited or Cenkos Securities plc, or any of their respective affiliates, accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to this announcement, including the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from the announcement) or for any loss howsoever arising from any use of the announcement or its contents. BlackRock Investment Management (UK) Limited, BlackRock Fund Managers Limited, Cenkos Securities plc, and their respective affiliates,  accordingly disclaim all and any liability whether arising in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.