Printer Friendly

TEMPLETON GLOBAL UTILITIES TO REMAIN A CLOSED-END FUND

 TEMPLETON GLOBAL UTILITIES TO REMAIN A CLOSED-END FUND
 ST. PETERSBURG, Fla., Sept. 10 /PRNewswire/ -- Templeton Global Utilities, Inc. (AMEX: TGU), a closed-end investment company, confirmed today that the Fund's Articles of Incorporation requires the Fund's board of directors to submit to shareholders a proposal to convert the Fund to an open-end investment company if the Fund's shares trade on the AMEX at an average discount from the net asset value of 2 percent or more during the quarter immediately preceding Aug. 31, 1992 (the "test period"). During the test period, the Fund traded at an average premium of 2.81 percent. Accordingly, the board of directors is not required to propose that the Fund convert to an open-end fund.
 The next test period for conversion to an open-end fund will be the last quarter of fiscal year ending Aug. 31, 1993.
 -0- 9/10/92
 /CONTACT: Thomas M. Mistele, secretary of Templeton Global Utilities, 800-237-0738, ext. 7660/
 (TGU) CO: Templeton Global Utilities ST: Florida IN: FIN SU:


JB-SS -- FL017 -- 8200 09/10/92 16:33 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 10, 1992
Words:176
Previous Article:ARCH PETROLEUM ANNOUNCES RAILROAD COMMISSION DECISION
Next Article:ASSETS OF MONEY MARKET FUNDS INCREASE, ICI REPORTS
Topics:


Related Articles
TEMPLETON GLOBAL UTILITIES TO REMAIN A CLOSED-END FUND
TEMPLETON RELEASES CLOSED-END FUNDS MONTHLY PORTFOLIO ALLOCATION UPDATE
TEMPLETON RELEASES CLOSED-END FUNDS MONTHLY PORTFOLIO ALLOCATION UPDATE
TEMPLETON RELEASES CLOSED-END FUNDSMONTHLY PORTFOLIO ALLOCATION UPDATE
TEMPLETON RELEASES CLOSED-END FUNDS MONTHLY PORTFOLIO ALLOCATION UPDATE
TEMPLETON RELEASES CLOSED-END FUNDS MONTHLY PORTFOLIO ALLOCATION UPDATE
TEMPLETON RELEASES CLOSED-END FUNDS MONTHLY PORTFOLIO ALLOCATION UPDATE
TEMPLETON RELEASES CLOSED-END FUNDS MONTHLY PORTFOLIO ALLOCATION UPDATE
TEMPLETON RELEASES CLOSED-END FUNDS MONTHLY PORTFOLIO ALLOCATION UPDATE
TEMPLETON RELEASES CLOSED-END FUNDS MANAGER'S REPORTS

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters