Investment Grade Municipal Income Fund Inc. Announces Preliminary Results of Special Meeting of Stockholders
2010年2月24日 - 1:53AM
ビジネスワイヤ(英語)
Investment Grade Municipal Income Fund Inc. (the "Fund") (NYSE:
PPM) today announced the results of its special meeting of
stockholders (“Special Meeting”), subject to a final tabulation and
certification of the votes by IVS Associates, Inc., which is
serving as the independent inspector of the election.
On February 23, 2010, the holders of the Fund’s common stock and
auction preferred stock (“APS”) were asked to consider and vote
together upon a proposal to liquidate and dissolve the Fund
pursuant to a Plan of Liquidation (the “Liquidation Proposal”). The
preliminary results indicate that the Liquidation Proposal has
received greater than the required vote of a majority of the votes
entitled to be cast at the meeting. Approximately 55% of the Fund’s
shares (common and preferred) voted “FOR” the Liquidation Proposal
according to the preliminary vote tally.
As a result, the Fund will no longer seek to attain its
investment objective, and will proceed to convert all portfolio
securities of the Fund to cash or cash equivalents and to determine
and pay (or set aside) the amount of all known or reasonably
ascertainable claims and obligations of the Fund pursuant to (and
in order to start implementing) the Plan of Liquidation. The Fund
will announce final voting results of the Special Meeting by press
release along with further information regarding the upcoming
liquidation and dissolution of the Fund when this information is
available, expected within a week or so.
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