ACM Managed Dollar Income Fund, Inc. Conclusion of Tender Offer Measurement Period.Business Editors NEW YORK--(BUSINESS WIRE)--Feb. 16, 2000 ACM (Association for Computing Machinery, New York, www.acm.org) A membership organization founded in 1947 dedicated to advancing the arts and sciences of information processing. In addition to awards and publications, ACM also maintains special interest groups (SIGs) in the computer field. Managed Dollar Income Fund, Inc., a closed-end investment company closed-end investment company: see mutual fund. (NYSE NYSE See: New York Stock Exchange :ADF (1) (Application Development Facility) An IBM programmer-oriented mainframe application generator that runs under IMS. (2) (Automatic Document Feeder) A paper stacker that feeds one sheet of paper at a time into the unit. ) (the "Fund"), today announced the results of its recently concluded tender offer measurement period. Pursuant to the Fund's Prospectus dated October 22, 1993, and subject to the conditions and limitations described therein, the Fund undertook to conduct a tender offer for shares of its common stock during the second quarter of each year if, during a 12-week period designated by the Fund's Board of Directors, the Fund's shares have traded at an average discount from net asset value of 3% or more determined on the basis of the discount or premium on the last trading day Last Trading Day The final day that a futures or options contract may trade or be closed out before delivery of the underlying asset must occur. Notes: If the buying and selling parties do not arrange an alternate agreement, the physical commodity must be delivered from in each week during the 12-week period. As previously announced, the Board of Directors had designated the 12 weeks ended February 11, 2000 as the measurement period with respect to a possible 2000 tender offer. During that period, the Fund's common stock traded at an average discount to net asset value of 2.04%. Accordingly, the Fund is not required pursuant to the Prospectus undertaking to conduct a tender offer during the second quarter of 2000. The Fund is a closed-end U.S.-registered management investment company managed by Alliance Capital Management L.P. As of February 11, 2000, the Fund's total net assets were approximately $201 million. |
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