BlackRock Announces Shareholder Approval of Strategy Changes to the BlackRock Technology and Private Equity Term Trust (BTX)
BlackRock Technology and Private Equity Term Trust (NYSE: BTX) shareholders have approved two significant strategic changes during a Special Shareholder Meeting. The first change amends the Trust's fundamental investment restriction, allowing it to concentrate investments in companies within the technology group of industries. The second modification changes the Trust's status from diversified to non-diversified under the Investment Company Act of 1940.
Gli azionisti di BlackRock Technology and Private Equity Term Trust (NYSE: BTX) hanno approvato due importanti modifiche strategiche durante un'Assemblea Speciale degli Azionisti. La prima modifica riguarda la restrizione fondamentale sugli investimenti del Trust, permettendo di concentrare gli investimenti in società del settore tecnologico. La seconda modifica cambia lo status del Trust da diversificato a non diversificato ai sensi dell’Investment Company Act del 1940.
Los accionistas de BlackRock Technology and Private Equity Term Trust (NYSE: BTX) aprobaron dos cambios estratégicos importantes durante una Junta Especial de Accionistas. El primer cambio modifica la restricción fundamental de inversión del Fondo, permitiéndole concentrar las inversiones en empresas del sector tecnológico. La segunda modificación cambia el estatus del Fondo de diversificado a no diversificado según el Investment Company Act de 1940.
BlackRock Technology and Private Equity Term Trust (NYSE: BTX) 주주들은 특별 주주총회에서 두 가지 중요한 전략적 변경 사항을 승인했습니다. 첫 번째 변경은 트러스트의 기본 투자 제한을 수정하여 기술 산업 그룹 내 기업에 투자를 집중할 수 있도록 허용합니다. 두 번째 변경은 투자회사법(Investment Company Act) 1940년 기준으로 트러스트의 상태를 다양화된 상태에서 비다양화 상태로 변경하는 것입니다.
Les actionnaires de BlackRock Technology and Private Equity Term Trust (NYSE : BTX) ont approuvé deux changements stratégiques majeurs lors d’une assemblée générale extraordinaire. Le premier changement modifie la restriction fondamentale d’investissement du Trust, lui permettant de concentrer ses investissements dans des entreprises du secteur technologique. La deuxième modification transforme le statut du Trust, passant de diversifié à non diversifié selon l’Investment Company Act de 1940.
Die Aktionäre des BlackRock Technology and Private Equity Term Trust (NYSE: BTX) haben während einer außerordentlichen Hauptversammlung zwei bedeutende strategische Änderungen genehmigt. Die erste Änderung ändert die grundlegende Investitionsbeschränkung des Trusts und erlaubt es, Investitionen auf Unternehmen innerhalb der Technologiebranche zu konzentrieren. Die zweite Änderung ändert den Status des Trusts von diversifiziert zu nicht diversifiziert gemäß dem Investment Company Act von 1940.
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About BlackRock
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BlackRock will update performance and certain other data for the Trust on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Trust. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Trust and does not, and is not intended to, incorporate BlackRock’s website in this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or the Trust may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Trust or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.
BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.
With respect to the Trust, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Trust or the Trust’s net asset value; (2) the relative and absolute investment performance of the Trust and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to the Trust or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of the Trust with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Trust. The information contained on BlackRock’s website is not a part of this press release.
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Source: BlackRock Closed-End Funds
FAQ
What changes did BTX shareholders approve in the recent meeting?
How will the new investment concentration policy affect BTX's portfolio?
What does BTX's transition to non-diversified status mean for investors?
How does the Investment Company Act of 1940 define non-diversified status for BTX?
What is the potential impact of BTX's technology concentration approval on investment strategy?
