FMO Announces Completion of Reverse Share Split

published 27.07.2020 15:00

More Information About the Fund The Fund's investment objective is to provide a high level of after-tax total return with an emphasis on current distributions paid to shareholders.

The reverse share split did not alter the rights or total value of a shareholder's investment in the Fund, nor is it a taxable event for Fund investors.

The reverse share split reduced the total number of the Fund's outstanding shares and may help improve the Fund's positioning in the marketplace and liquidity for new and existing shareholders.

NEW YORK, July 27, 2020 (GLOBE NEWSWIRE) -- Fiduciary/Claymore Energy Infrastructure Fund's ("FMO" or the "Fund") today announced that the previously disclosed 1-for-5 reverse share split was executed today prior to the open of trading on the New York Stock Exchange (the "NYSE") under which every five outstanding common shares of FMO were automatically converted into one common share.

Under normal market conditions, the Fund invests at least 80% of its managed assets in energy infrastructure master limited partnerships ("MLPs") and other energy infrastructure companies ("energy infrastructure entities") and invests at least 65% of its managed assets in equity securities of energy infrastructure entities.

by Globe Newswire from feeds.benzinga.com

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