2002 Target Term Trust Inc. - Board of Directors Adopts Plan of Termination.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 13, 2002 2002 Target Term Trust Inc. ("Trust")(NYSE NYSE See: New York Stock Exchange : TTR TTR Transthyretin TTR Ticket To Ride (World Snowboard Tour) TTR Transformer Turns Ratio (electric power transmission and distribution) TTR Time To Repair TTR Time to Read ), a closed-end management investment company that seeks to invest in high quality fixed-income and adjustable-rate securities, today announced that at a meeting held on September 11, 2002, the Trust's Board of Directors adopted a Plan of Termination ("Plan") as contemplated when the Trust was first organized. The Plan is intended to accomplish the complete liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of the Trust's portfolio and the dissolution of the Trust. Pursuant to the Plan, it is anticipated that the Trust will make a liquidating distribution payable on or about November 29, 2002. The record, ex-dividend and payable dates relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc this distribution will be set and announced in November 2002. The Trust plans to de-list its shares from the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. effective on or about November 15, 2002. The Trust will make a subsequent announcement concerning the exact date on which the de-listing is to occur. While the Trust's portfolio is being managed in an effort to return the initial offering price of $15.00 per share, this is not guaranteed. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion