TR-1(i): NOTIFICATION OF MAJOR INTERESTS IN SHARES

(1). Identity of the issuer or the underlying issuer of existing shares to
which voting rights are attached (ii):

BlackRock Hedge Selector Ltd

(2). Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights: ( )

An acquisition or disposal of financial instruments which may result in the
acquisition of shares already issued to which voting rights are attached: ( )

An acquisition or disposal of instruments with similar economic effect to
qualifying financial instruments: ( )

An event changing the breakdown of voting rights: ( X )

Other (please specify): ( )

(3). Full name of person(s) subject to the notification obligation (iii):

Schroders plc

(4). Full name of shareholder(s) (if different from 3.) (iv):


(5). Date of the transaction and date on which the threshold is crossed or
reached (v):

16 January 2014

(6). Date on which issuer notified:

17 January 2014

(7). Threshold(s) that is/are crossed or reached:

Above 10%

(8). Notified details:

A: Voting rights attached to shares (viii, ix)

Class/type of shares (if possible using the ISIN code): UK Emerging Companies
Shares: JE00B42J37Y2

Situation previous to the triggering transaction:
Number of Shares: 2,755,645
Number of Voting rights: 2,755,645

Resulting situation after the triggering transaction:
Number of shares:
Direct: 2,724,570
Number of voting rights:
Direct (xi):
Indirect (xii): 2,724,570

% of voting rights (x):
Direct:
Indirect: 10.504%

B. Qualifying Financial Instruments

Resulting situation after the triggering transaction:

Type of financial instrument:

Expiration date (xiii):

Exercise/Conversion Period (xiv):

Number of voting rights that may be acquired if the instrument is exercised/
converted:

% of voting rights:

C. Financial Instruments with similar economic effect to Qualifying Financial
Instruments xv, xvi

Resulting situation after the triggering transaction:

Type of financial instrument: N/A

Exercise price: N/A

Expiration date (xvii): N/A

Exercise/Conversion period (xviii): N/A

Number of voting rights instrument refers to: N/A

% of voting rights (xix, xx):

Nominal:

Delta:

Total (A + B + C):

Number of voting rights: 2,724,570

% of voting rights: 10.504%

(9). Chain of controlled undertakings through which the voting rights and/or
the financial instruments are effectively held, if applicable (xxi):

Schroder and Co Limited 1,048,760 - 4.043%%

Cazenove Capital Management Limited 1,675,810 - 6.461%

Proxy Voting:

(10). Name of the proxy holder


(11). Number of voting rights proxy holder will cease to hold:

N/A

(12). Date on which proxy holder will cease to hold voting rights:

N/A

(13). Additional information:

The shares referred to in section 9 are held in portfolios managed by those
firms on a discretionary basis for clients under investment management
agreements.

This disclosure has been calculated based on issue share capital amount
25,937,505.

(14). Contact name:

Ed Bellew
BlackRock (Channel Islands) Limited
Secretary

(15). Contact telephone number:

0153 460 0806

20 January 2014