High Income Securities Fund Announces Terms of Rights Offering
Subject to shareholder approval, the Board has approved (1) the Fund entering into an investment advisory agreement with
Shortly after the special meeting, the Board intends to authorize a tender offer by the Fund to purchase at least (a) 90% of the number of shares issued in the rights offering if the proposals are adopted, or (b) 60% of the number of shares issued in the rights offering if the proposals are not adopted, at a price of at least 98% of NAV. The foregoing does not constitute a tender offer or an offer to purchase any shares of the Fund. Any such offer will be made pursuant to separate tender offer materials complying with the requirements of Section 13(e) of the Securities Exchange Act of 1934, as amended and Rule 13e-4 thereunder.
This press release does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities, nor shall there be any sale, issuance or transfer of securities in contravention of applicable law. The rights offering is subject to an effective registration statement covering the rights and shares to be issued and to other customary regulatory filings and approvals. Any rights offering conducted by the Fund will be made only by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
For more information, please call InvestorCom, the Fund’s information agent, at (877) 972-0090.
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