Western Asset Global High Income Fund Inc. Announces Completion of Merger and Share Conversion Price
29 Agosto 2016 - 7:00AM
Business Wire
Western Asset Global High Income Fund Inc. (NYSE:EHI) announced
today the completion of the merger of Western Asset Global Partners
Income Fund Inc. (previously NYSE:GDF) with and into Western Asset
Global High Income Fund Inc. Effective immediately, GDF
stockholders became EHI stockholders.
Each GDF share converted into an equivalent dollar amount (to
the nearest $0.001) of full shares of EHI. The conversion price was
based on each Fund’s net asset value (NAV) per share calculated at
the close of business on Friday, August 26, 2016.
NAV, as of 8/26/16 market close
EHI $11.17
GDF $10.17
The conversion ratio was calculated at 0.910322 common shares of
EHI for each GDF common share. EHI did not issue any fractional
shares to GDF stockholders. In lieu thereof, EHI purchased all
fractional shares at the current NAV and remitted the cash proceeds
to former GDF stockholders in proportion to their fractional
shares.
EHI’s post-merger net assets totaled $505,503,956 and its NAV
per common share was $11.17 based on approximately 45,242,240
shares outstanding, as of the close of business on August 26,
2016.
Western Asset Global High Income Fund Inc. Inc. (EHI) is a
closed-end, non-diversified management investment company. Legg
Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg
Mason, Inc., serves as the Fund’s investment manager and Western
Asset Management Company, an affiliate of the investment manager,
serves as the Fund’s sub-adviser.
Contact the Fund at 1-888-777-0102 for additional information,
or consult the Fund’s web site at www.lmcef.com. Hard copies of each Fund’s complete
audited financial statements are available free of charge upon
request.
All data and commentary provided within this press release is
for informational purposes only. Legg Mason, Inc. and its
affiliates do not engage in the sale of shares of the Fund. The
Fund’s shares are traded on the New York Stock Exchange.
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Legg Mason, Inc.Maria Rosati, 212-805-6036mrosati@leggmason.com
Western Asset Global Partners Income Fund, Inc. (NYSE:GDF)
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