Reorganization Of The Hartford Income Shares Fund, Inc. With And Into Rivus Bond Fund
19 Março 2010 - 7:00AM
Business Wire
At a meeting held on March 17, 2010, the Board of Directors of
The Hartford Income Shares Fund, Inc. approved on behalf of The
Hartford Income Shares Fund, Inc. (HSF) (the “Acquired Fund”), and
the Board of Trustees approved on behalf of Rivus Bond Fund (BDF)
(the “Acquiring Fund”), managed by Cutwater Asset Management Corp.,
the reorganization of the Acquired Fund with and into the Acquiring
Fund (the “Reorganization”). The investment adviser of the Acquired
Fund is Hartford Investment Financial Services, LLC and the
investment adviser of the Acquiring Fund is Cutwater Asset
Management Corp. Each Fund is traded on the New York Stock Exchange
under the ticker symbol set forth above.
The Board of Directors of The Hartford Income Shares Fund, Inc.
has called a Special Meeting of Shareholders of the Acquired Fund
to be held on or about June 15, 2010, for the purpose of seeking
the approval of the Agreement and Plan of Reorganization (the
“Reorganization Agreement”) by the shareholders of the Acquired
Fund. If approved, the Reorganization is expected to occur by the
end of July 2010.
If the Reorganization Agreement is approved by the shareholders
of the Acquired Fund, the Reorganization Agreement contemplates:
(1) the transfer of the assets of the Acquired Fund to the
Acquiring Fund in exchange for shares of beneficial interest of the
Acquiring Fund that have an aggregate net asset value equal to the
aggregate net asset value of the shares of common stock of the
Acquired Fund; (2) the assumption by the Acquiring Fund of the
liabilities of the Acquired Fund; and (3) the distribution of
shares of the Acquiring Fund to the shareholders of the Acquired
Fund in complete liquidation of the Acquired Fund. Each shareholder
of the Acquired Fund would receive shares of the Acquiring Fund
equal in value to the shares of the Acquired Fund held by that
shareholder as of the closing date of the Reorganization.
A proxy statement containing detailed information concerning the
Reorganization is expected to be mailed to the Acquired Fund’s
shareholders in April 2010, and may also be obtained at that time
by contacting The Hartford Income Shares Fund, Inc. Attn: Closed
End Funds, P.O. Box 219812, Kansas City, MO 64121. You may also
obtain information by calling 1-888-483-0972.
This press release may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act, with
respect to the fund’s future financial or business performance,
strategies or expectations. Forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and The Hartford assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
past performance is not an indication of future performance.
Investing in funds involves significant risks, including the
risk that you may lose part or all of the money you invest. For
information on the risks associated with the Acquired Fund, please
see the Acquired Fund’s most recent Annual Shareholder Report,
dated July 31, 2009.
You should carefully consider the investment objectives, risks,
and charges and expenses of The Hartford Income Shares Fund, Inc.
before investing. The Annual and Semi-Annual Reports and other
regulatory filings of the fund with the SEC are accessible on the
SEC's website at www.sec.gov and on The Hartford’s website
at www.hartfordinvestor.com. The information contained on
The Hartford’s website is not a part of this press release. You may
also obtain information by calling 1-888-483-0972.
Hartford Income Shares Fund, Inc. (NYSE:HSF)
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