Blackrock Resources & Commodities Strategy Trust Enters Standstill Agreement with Saba Capital Management, L.P.

Blackrock Resources & Commodities Strategy Trust (NYSE: BCX) recently disclosed in an 8-K filing submitted to the Securities and Exchange Commission that the company, along with BlackRock Advisors, LLC, has struck a standstill agreement with Saba Capital Management, L.P. The agreement, known as the Standstill Agreement, was formalized on January 20, 2025.

One of the key aspects of the Standstill Agreement involves Saba Capital Management agreeing to adhere to specific customary standstill covenants. Furthermore, the agreement outlines that Saba will cast its common shares of beneficial interest votes, if any, based on the recommendations put forth by the Fund’s Board of Trustees on all matters presented to shareholders.

The Standstill Agreement stipulates that it will remain in effect until the day following the completion of the Fund’s annual meeting of shareholders in 2027 or until August 31, 2027, whichever event occurs earlier, unless prematurely terminated by the involved parties. A detailed copy of the Standstill Agreement can be accessed as Exhibit 10.1 in the filed report, denoting its incorporation by reference.

In line with the filing, Blackrock Resources & Commodities Strategy Trust also disclosed in the 8-K submission that accompanying financial statements and exhibits are available for review.

The company’s Secretary, Janey Ahn, in accordance with the requirements of the Securities Exchange Act of 1934 on behalf of the registrant, has duly signed the report on January 21, 2025.

Estimates suggest that this agreement may have implications for the future trajectory of Blackrock Resources & Commodities Strategy Trust and its dealings within the industry.

This communication resonates with the commitment to transparent reporting and regulatory compliance exhibited by Blackrock Resources & Commodities Strategy Trust and its affiliates.

Source: SEC Filing – Blackrock Resources & Commodities Strategy Trust, 8-K filing

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Blackrock Resources & Commodities Strategy Trust’s 8K filing here.

Blackrock Resources & Commodities Strategy Trust Company Profile

Blackrock Resources & Commodities Strategy Trust is a closed-ended equity mutual fund launched by BlackRock, Inc It is co-managed by BlackRock Advisors, LLC and BlackRock International Limited. The fund invests in the public equity markets of the United States. It seeks to invest in stocks of companies operating in the commodities or natural resources sectors.