Bull & Bear Global Income Fund Announces Intention To Issue Rights to its Shareholders of Record As of May 20, 1998.NEW YORK--(BUSINESS WIRE)--May 11, 1998--Bull & Bear Global Income Fund, Inc. (AMEX-BBZ) (the "Fund") announced today its intention to issue to its shareholders of record as of May 20, 1998 non-transferable rights to purchase additional shares of the Fund. The rights offering to subscribe for a limited number of new shares of the Fund (the "Offer") will be made only by means of a prospectus that will be delivered to record date shareholders. The Fund proposes to offer shareholders of record one non-transferable right for each whole share of common stock held on the record date. Two rights will entitle en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: the holder of such rights to subscribe for one share of the Fund's common stock at the subscription price. Shareholders exercising their rights in full may subscribe for additional shares pursuant to an over-subscription privilege, subject to certain limitations and allotment A portion, share, or division. The proportionate distribution of shares of stock in a corporation. The partition and distribution of land. ALLOTMENT. Distribution by lot; partition. Merl. Rep. h.t. . The subscription price will be 93% of the lower of (i) the average of the last reported sales price of a share of the Fund's common stock on the Exchange on the date of the 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 Offer (the "Pricing Date") and on the four preceding business days and (ii) the net asset value per share as of the close on the Pricing Date. First Albany Corporation will act as Dealer Manager of the Offer. Proposed Timetable As stated above, the record date for determining those shareholders eligible to participate in the rights offering will be May 20, 1998. The proposed subscription period will expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. on June 10, 1998, subject to extension. It is expected that subscription certificates evidencing the right to subscribe, together with a prospectus, will be mailed to shareholders of record promptly following the record date. Shareholders who hold their shares in bank or broker name will receive the rights materials from their bank or broker. The Fund is a diversified diversified (di·verˑ·s , closed-end management investment company which invests primarily in investment grade fixed income securities issued by governments and corporations throughout the world. The Fund's primary investment objective is to provide a high level of income, and its secondary investment objective is capital appreciation. A Registration Statement relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. CONTACT: Corporate Investor Noun 1. corporate investor - a company that invests in (acquires control of) other companies company - an institution created to conduct business; "he only invests in large well-established companies"; "he started the company in his garage" Communications, Inc. 1-888-200-4398 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion