DEFA14A: BlackRock Science and Technology Term Trust Urges Shareholders to Vote FOR Board Nominees

BlackRock is urging shareholders of its Science and Technology Term Trust to vote FOR its board nominees and AGAINST a proposal by Sabas, emphasizing the board's commitment to protecting all investors and prioritizing steady income.

Summary

• BlackRock is actively soliciting votes in favor of its board nominees for the BlackRock Science and Technology Term Trust.
• The company emphasizes the board's duty to protect all investors and prioritize their need for steady income over time.
• BlackRock is urging shareholders to vote AGAINST a proposal by Sabas.
• Shareholders are instructed to use ONLY THE WHITE CARD when voting.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive as BlackRock is actively defending its board and emphasizing its commitment to shareholders. However, the presence of a competing proposal introduces an element of uncertainty.

Positives

• BlackRock emphasizes its commitment to protecting all investors.
• The board prioritizes the need for steady income for shareholders.

Risks

• There is a proposal by Sabas that BlackRock is actively campaigning against, suggesting a potential disagreement on the fund's direction.

Future Outlook

BlackRock aims to maintain its current strategy of providing steady income and protecting investors' interests through its board nominees.

Management Comments

• The boards of BlackRock's CEFs work to protect and engage with all shareholders, and prioritize their need for steady income over time.
• Our CEF boards have a duty to protect all investors.

Industry Context

This announcement reflects the ongoing proxy battles and shareholder activism common in the closed-end fund (CEF) space, where activist investors often challenge existing management for control or strategic changes.

Stakeholder Impact

• The outcome of the proxy vote will impact shareholders by determining the board members who will oversee the fund's strategy and operations.
• The outcome of the proxy vote will impact shareholders by determining the fund's strategy and operations.

Next Steps

• Shareholders will vote on the board nominees and Sabas' proposal.
• BlackRock will continue to advocate for its board nominees.

Keywords

BlackRock, Science and Technology Term Trust, Board Nominees, Proxy Vote, Shareholders, CEF, Sabas, DefendYourFund, Steady Income