Lincoln National Income Fund, Inc. Announces Completion of Reorganization Into Delaware Corporate Bond Fund
16 Junho 2006 - 7:01PM
PR Newswire (US)
PHILADELPHIA, June 16 /PRNewswire-FirstCall/ -- Lincoln National
Income Fund, Inc. (NYSE:LND) (the "Fund") today announced the
completion of its reorganization into Delaware Corporate Bond Fund
("Corporate Bond Fund"), an open-end series of Delaware Group
Income Funds. The reorganization was approved by the Fund's
shareholders at a Special Meeting of Shareholders held on June 1,
2006. The transaction, which is structured as a tax-free
reorganization, entailed (i) the acquisition of all of the assets
of the Fund by Corporate Bond Fund in exchange for Class A shares
of Corporate Bond Fund and (ii) the pro rata distribution of such
shares to the Fund's shareholders in exchange for their shares of
the Fund. From this point forward, the Fund will no longer trade or
be listed on the New York Stock Exchange, and the Fund's corporate
existence will be liquidated and dissolved. For the three months
after today's closing, former Fund shareholders who redeem or
exchange shares of Corporate Bond Fund received in connection with
the transaction will pay a 2% redemption fee. Questions regarding
the exchange of shares in connection with the transaction should be
directed to Corporate Bond Fund's transfer agent, Delaware Service
Company, at 1-800-523-1918. The Fund was a closed-end,
non-diversified investment management company managed by Delaware
Management Company. Delaware Management Company is a series of
Delaware Management Business Trust, a subsidiary of Lincoln
National Corporation. The Fund's primary objective was to seek to
produce increasing dollar amounts of income for distribution to its
shareholders over the long term. As of June 15, 2006, the Fund had
total assets of approximately $91.1 million. DATASOURCE: Delaware
Investments CONTACT: Ayele Ajavon, Corporate Communications of
Delaware Investments, +1-215-255-1632, , or Laurel O'Brien,
Corporate Communications of Delaware Investments, +1-215-255-1520,
Web site: http://www.delawareinvestments.com/
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