This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BlackRock Enhanced Government Fund, Inc. Announces Expiration Of Annual Repurchase Offer

BlackRock Enhanced Government Fund, Inc. (the “Fund”) (NYSE: EGF, CUSIP: 09255K108) announced the expiration of the Fund’s annual Repurchase Offer for its shares of common stock. The Repurchase Offer and withdrawal rights expired at 5:00 p.m., Eastern Time, on November 20, 2012. The Fund offered to repurchase up to 10% of its outstanding shares of common stock for cash at a price equal to the net asset value as of the close of regular trading on the New York Stock Exchange on December 4, 2012, subject to a repurchase fee of 2% of the Fund’s net asset value per share, which will be deducted from the repurchase price. As of Tuesday, November 20, 2012, 10,999,641 shares of the Fund were outstanding. A repurchase amount of 10% of the outstanding shares of the Fund’s common stock would represent approximately 1,099,964 shares.

The preliminary count by Computershare Shareowner Services LLC, the Fund's depositary agent, indicated that approximately 3,367,976 shares (approximately 30.61% of the Fund's outstanding shares) were validly tendered and not withdrawn prior to the expiration of the Fund's Repurchase Offer. This determination is subject to final confirmation and the proper delivery of all shares tendered and not withdrawn.

Because the aggregate number of shares tendered exceeds the total number of shares that the Fund offered to repurchase, the Fund will repurchase any shares tendered on a pro rata basis. However, the Fund will accept all shares tendered by shareholders who own, beneficially or of record, an aggregate of not more than 99 shares and who tender all of their shares, before pro rating shares tendered by others.

The Fund is a diversified, closed-end management investment company. The Fund’s primary investment objective is to provide stockholders with current income and gains.

None of the Fund, its investment adviser or its Board of Directors has made any recommendation to any stockholder as to whether to tender or refrain from tendering shares in the Repurchase Offer.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs