Montgomery Street Income Securities, Inc. Announces Liquidating Distribution
15 Décembre 2015 - 11:25PM
Business Wire
The Board of Directors (the “Board”) of Montgomery Street Income
Securities, Inc. (NYSE:MTS) (the “Fund”) declared today a first and
final liquidating distribution of $17.741 per share (the
“Distribution”). The Distribution is pursuant to a Plan of
Dissolution and Liquidation (the “Plan”) approved by the Board and
by the Fund’s stockholders at a special meeting held on November
16, 2015 (the “Special Meeting”).
The books of the Fund will be permanently closed, and the
stockholders entitled to the Distribution will be determined, as of
the close of business on December 23, 2015. Trading of the Fund’s
shares is expected to be suspended on the NYSE upon the opening of
trading on December 24, 2015.
The effective date of the Distribution (the “Effective Date”)
will be December 30, 2015, when the Fund transfers funds for the
Distribution to the Fund’s transfer agent, Computershare
Shareholder Services ("Computershare"). Upon such transfer, all
outstanding shares of the Fund shall be deemed cancelled. The
Distribution is payable to each stockholder upon presentation of
such stockholder’s stock certificate(s) to Computershare.
Computershare will provide stockholders with instructions and a
letter of transmittal or exchange form for this purpose shortly
after the Effective Date. Stockholders may contact Computershare
with any questions at 877-437-3938.
For tax reporting purposes, it is expected that an IRS Form
1099-B, Proceeds from Broker and Barter Exchange Transactions, will
be mailed to stockholders in January or February 2016. As indicated
in the Proxy Statement for the Special Meeting, the Distribution
generally will be treated as a long-term or short-term capital gain
or loss for tax purposes depending on the basis and holding period
of the shares held.
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/20151215006899/en/
For stockholder inquiries:Computershare Shareowner
Services, 877-437-3938orFor media
inquiries:Atlantic Fund Administration, 855-422-4512
(NYSE:MTS)
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