Montgomery Street Income Securities, Inc. Announces Liquidation
04 9월 2015 - 6:20AM
Business Wire
Montgomery Street Income Securities, Inc. (NYSE: MTS) (the
“Fund”) announced today that its Board of Directors has approved
the liquidation of the Fund, subject to the further approval of the
Fund’s stockholders at a special meeting to be held before the end
of the year. Proxy materials describing the plan of liquidation
will be mailed to stockholders in advance of the special meeting. A
vote of two-thirds of the outstanding shares is required.
Pending the special meeting, the Fund’s investments will
continue to be managed in accordance with the current investment
objectives and policies of the Fund. If stockholders approve the
liquidation, the Fund’s investments will be sold and the Fund will
make one or more cash distributions to stockholders, after
providing for liquidation expenses and any other liabilities. The
Fund will then cease operations.
The Fund is a closed-end diversified management investment
company whose primary investment objective is to seek as high a
level of current income as is consistent with prudent investment
risks, from a diversified portfolio primarily of debt securities.
The Fund’s shares are traded on the New York Stock Exchange under
the symbol MTS.
Closed-end funds, unlike open-end funds, are not continuously
offered. There is generally a one-time public offering and, once
issued, shares of closed-end funds are sold in the open market
through a stock exchange. Shares of closed-end funds frequently
trade at a discount to net asset value.
The price of the Fund’s shares is determined by a number of
factors, several of which are beyond the control of the Fund.
Therefore, the Fund cannot predict whether its shares will trade
at, below or above net asset value.
Investments in funds involve risk. Yields and market values will
fluctuate. Investing in foreign markets presents certain unique
risks not associated with domestic investments, such as currency
fluctuations, political and economic changes and market risks.
Additionally, the Fund invests in lower-quality and non-rated
securities, which present greater risks of loss of principal and
interest than higher-quality securities. All of these factors may
result in greater share price volatility.
This announcement is not an offer to purchase or the
solicitation of an offer to sell shares of the Fund, a prospectus,
a circular or representation intended for use in the purchase or
sale of Fund shares, or a proxy solicitation.
NOT FDIC/NCUA INSURED MAY LOSE VALUE NO BANK
GUARANTEENOT A DEPOSIT NOT INSURED BY ANY FEDERAL
GOVERNMENT AGENCY
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version on businesswire.com: http://www.businesswire.com/news/home/20150903006547/en/
Montgomery Street Income Securities, Inc.For stockholder
inquiries:Computershare Shareowner Services, 877-437-3938orFor
media inquiries:Atlantic Fund AdministrationGino Malaspina,
855-422-4512
(NYSE:MTS)
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