The board of the £130m BlackRock Emerging Europe trust (BEEP), managed by Sam Vecht, is giving shareholders the option of a full cash exit or the opportunity to rollover assets into his £293m Frontiers investment trust, after ditching plans for a tender offer.
The BEEP board, which proposed a tender offer to shareholders earlier this year, later announced this would result in the trust's remaining assets falling below the minimum level it deemed necessary for it...
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Designed to park short-term cash