Helios Total Return Fund, Inc. Announces Terms of Rights Offering
07 Septembre 2012 - 1:58AM
Marketwired
Helios Total Return Fund, Inc. (the "Fund") (NYSE:HTR) today
announced that its Board of Directors approved the terms of a
transferable rights offering which would allow the Fund's record
date common shareholders to purchase additional shares of common
stock.
The Board of Directors, based on the recommendations and
presentations of Brookfield Investment Management Inc., the Fund's
investment adviser (the "Adviser"), has determined that it is in
the best interest of the Fund and its shareholders to increase the
assets of the Fund available for investment and thereby to conduct
the rights offering. The Adviser believes that now may be an
opportune time to seek to take advantage of attractive investment
opportunities and to further diversify the Fund's portfolio in
mortgage-related securities, which may enable the Fund to
potentially enhance yield and capture net asset value ("NAV")
appreciation potential. Additionally, the rights offering seeks to
provide existing shareholders the opportunity to acquire additional
shares at a discount to the Fund's market price.
The record date of the rights offering is September 20, 2012.
The rights offering is expected to expire on October 19, 2012,
unless otherwise extended by the Fund (the "expiration date"). The
rights will trade on the New York Stock Exchange ("NYSE") under the
symbol "HTR RT" until October 18, 2012, one business day prior to
the expiration date.
Subject to the registration statement for the offer becoming
effective under the Securities Act of 1933, the Fund will
distribute to common shareholders of record one right for each
common share held on the record date. This will allow common
shareholders to purchase one new common share for every three
rights held (1-for-3). Rights may be exercised only in multiples of
three, except that record date common shareholders who are issued
fewer than three rights will be entitled to subscribe for one
common share of the Fund. Fractional common shares will not be
issued. Common shares obtained through the exercise of rights will
not be eligible to receive the Fund's monthly dividends to be paid
in September and October 2012.
The subscription price per common share will be determined on
the expiration date. The subscription price will be determined
based on a formula equal to 90% of the average of the last reported
sales price of a common share of the Fund on the NYSE on the
expiration date and each of the four preceding trading days (the
"formula price"). If, however, the formula price is less than 80%
of the Fund's NAV per common share at the close of trading on the
NYSE on the expiration date, the subscription price will be 80% of
the Fund's NAV per common share at the close of trading on the NYSE
on that day. The estimated subscription price has not yet been
determined by the Fund.
Record date common shareholders who fully exercise all of their
primary subscription rights will be eligible for an
over-subscription privilege entitling those common shareholders to
subscribe, subject to certain limitations and subject to allotment,
for additional common shares covered by any unexercised rights.
The Fund expects to send each shareholder a prospectus for the
offer and subscription certificates evidencing the rights offering
to record date common shareholders within the United States
following the record date. Common shareholders who hold their
common shares through a broker, bank or trust company should
contact their representative with instructions to either exercise
or sell their rights. Common shareholders who hold common shares
directly and wish to exercise or sell their rights should complete
the subscription certificate they will receive in the mail and send
it to the subscription agent for the offer, together with their
payment, at one of the locations indicated on the subscription
certificate or in the prospectus.
The Fund is a diversified, closed-end management investment
company registered under the Investment Company Act of 1940, as
amended, and was organized as a corporation under the laws of the
State of Maryland on May 26, 1989. The Fund's primary investment
objective is to provide high total return, including short- and
long- term capital gains and a high level of current income,
through the management of a portfolio of securities.
About Brookfield Asset Management
Brookfield is a global alternative asset manager with
approximately $150 billion in assets under management as of June
30, 2012. We have over a 100-year history of owning and operating
assets with a focus on property, renewable power, infrastructure
and private equity. We offer a range of public and private
investment products and services, which leverage our expertise and
experience and provide us with a distinct competitive advantage in
the markets where we operate. On behalf of our clients, Brookfield
is also an active investor in the public securities markets, where
our experience extends nearly 40 years. Over this time, we have
successfully developed several investment operations and built
expertise in the management of institutional portfolios, retail
mutual funds, and structured product investments.
Through our SEC-registered investment advisor, Brookfield
Investment Management, our public market activities complement our
core competencies as a direct investor. These activities encompass
global listed real estate and infrastructure equities, corporate
high yield investments, opportunistic credit strategies and a
dedicated insurance asset management division. Headquartered in New
York, NY, Brookfield Investment Management maintains offices and
investment teams in Toronto, Chicago, Boston and London. Helios
Total Return Fund, Inc. is managed by Brookfield Investment
Management Inc.
The Fund uses its web site as a channel of distribution of
material company information. Financial and other material
information regarding the Fund is routinely posted on and
accessible at www.brookfieldim.com.
Investors should consider the Fund's investment objectives,
risks, charges and expenses carefully before investing. The Fund's
prospectus contains this and other information about the Fund and
should be read carefully before investing. For further information
regarding the Fund's rights offering, or to obtain a prospectus,
when available, please contact the Fund's Information Agent:
AST Fund Solutions, LLC
110 Wall Street, 5th Floor
New York, NY 10005
Banks and Brokers Call: 1-212-400-2605
Toll-Free: 1-877-896-3191
The information in this communication is not complete and may be
changed. The Fund may not sell these securities until the
registration statement filed with the Securities and Exchange
Commission is effective. This communication is not an offer to sell
these securities and is not soliciting an offer to buy these
securities in any state where the offer or sale is not
permitted.
Contacts: Helios Total Return Fund, Inc. Three World Financial
Center 200 Vesey Street New York, NY 10281-1010 (800)
497-3746funds@brookfield.com
Brookfield Total Return Fund Inc. (The) (NYSE:HTR)
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