The Fund announced that its Board of Trustees has approved a Plan of Liquidation and Termination for the Fund (the “Plan”) related to the previously announced liquidation of the Fund to occur no later than November 30, 2024. As further described below, a final liquidating distribution is expected to be made on or about November 20, 2024, for the Fund. The Fund’s last anticipated regular monthly dividend will be for the month of October. Any net investment income earned in November would be included as part of the Fund’s final liquidating distribution to common shareholders.
Under the terms of the Plan, the “Cessation Date” for the Fund is expected to occur on or about November 13, 2024. As provided in the Plan, at the close of business on the Cessation Date, the Fund will cease to engage in any business activities, except for the purpose of liquidating and winding up its affairs, and the books of the Fund will be closed. Effective the business day following the Cessation Date, the Fund’s shares will not be transferable (except for the settlement of prior transactions), and it is anticipated that trading in the Fund’s common shares on the New York Stock Exchange will cease. The Fund will subsequently seek to reduce all remaining portfolio securities to cash or cash equivalents and make a final liquidating distribution to common shareholders on or about November 20, 2024. Holders of preferred shares, if any, will receive a liquidating distribution equal to the liquidation preference plus unpaid dividends. The Cessation Date may be extended if necessary or appropriate in connection with the orderly liquidation of the Fund or to protect the interests of the Fund’s shareholders.