Board to Recommend Transferable Rights Offering to Shareholders of Boulder Growth & Income Fund.Business Editors BOULDER, Colo.--(BUSINESS WIRE)--July 24, 2002 The Boulder Growth & Income Fund, Inc. (NYSE NYSE See: New York Stock Exchange :BIF BIF In currencies, this is the abbreviation for the Burundi Franc. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) announced today that the Board of Directors had determined to recommend that shareholders of the Fund approve a transferable rights offering. The recommendation is for the issuance of one right for every share held, and that each right would allow the holder to subscribe for one new share of common stock of the Fund at a subscription price equal to 95% of the lower of net asset value on, or the average market price for the five days prior to, expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the offering. The rights are expected to be listed on 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. . The described rights offering is subject to approval by the Fund's shareholders of the specific terms of the offering to be set forth in a proxy statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. , which is expected to be filed with the SEC in the near future. Assuming shareholder approval is obtained and other appropriate conditions exist, the Fund intends to file a registration statement with the SEC for the rights offering. Any rights offering will be made only by means of a prospectus. The Fund will hold its annual shareholder meeting on October 1, 2002, at which time shareholders of record will vote on approval of the above-described rights offering and such other matters that may come before the meeting. The Board of Directors set August 23, 2002, as the record date of the meeting. |
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