BOSTON, Dec. 23, 2020 (Globe NEWSWIRE) — Eagle Expansion and Cash flow Options Fund (the “Fund”) (NYSE:EGIF) right now declared an added liquidating distribution to its shareholders. On or about December 31, 2020, the Fund will distribute $961,462, or $.14 per share, in a funds liquidating distribution to shareholders entitled to these kinds of distribution.
Which include this liquidating distribution, considering the fact that the Fund introduced its liquidation on May 27, 2020 (the “Liquidation Date”), the Fund will have made four cash liquidating distributions to its shareholders totaling $89,896,649, or $13.09 per share. This represents a return to shareholders of 93.84% of the Fund’s web asset benefit per share as of the Liquidation Day.
Regular with prior liquidating distributions, the Fund has retained a constrained amount of money of income, as it continues to wind down its operations, in get to satisfy ongoing and approximated payment obligations in order to full its liquidation and termination system, such as issues linked with the reserve recognized by the Fund’s Board of Trustees in July 2020 to deliver for specified contingent liabilities of the Fund, which was subsequently produced past month. Considering that the Fund declared its liquidation, those people payment obligations have constituted around $.77 for every share based mostly on the Fund’s net asset value on the Liquidation Day.
The Fund also proceeds to seek out reimbursement of selected fees from its insurers and the payment of particular overseas tax reclaims. The Fund can not predict the timing or volume of any insurance policies reimbursements or the receipt of those tax reclaims, but is actively performing to take care of all those matters in buy to complete its liquidation and return any remaining web assets to its shareholders in the 1st quarter of 2021 prior to its termination.
Shareholders may well acknowledge attain or decline for U.S. tax functions as a result of the liquidation. Get or reduction will typically be calculated as the big difference concerning the sum of the hard cash liquidating distributions and the shareholder’s tax foundation in the shares of the Fund. The Fund does not present tax suggestions and traders ought to talk to their particular person tax adviser regarding the tax treatment method applicable to a liquidating distribution and any other payments gained in link with the liquidation.
In addition, on December 23, 2020, the Fund’s application to deregister as an expenditure organization under the Investment Business Act of 1940, as amended (the “1940 Act”), was permitted by the Securities and Exchange Fee. As of that date, the Fund is no lengthier subject to registration or regulation underneath the 1940 Act. The Fund anticipates that, as a end result of its deregistration, it will be capable to request to total its wind down and termination with diminished costs as it will no longer be demanded to operate as a registered investment decision corporation in the course of its liquidation system.
About Eagle Growth and Money Chances Fund
Until eventually December 23, 2020, the Fund was a diversified, shut-conclude administration financial commitment business. The Fund is advised by Very first Eagle Choice Credit, LLC.
About Very first Eagle Option Credit rating, LLC
Initially Eagle Alternative Credit rating is an alternative credit investment decision manager for each direct lending and broadly syndicated investments as a result of community and non-public autos, collateralized bank loan obligations, independently managed accounts and co-mingled funds. Very first Eagle Substitute Credit history maintains a assortment of advisory and sub-advisory relationships across its financial investment platforms. Initially Eagle Choice Credit is a wholly owned subsidiary of First Eagle Investment decision Management, LLC.
Statements incorporated herein may constitute “ahead-wanting statements”, which relate to long term activities or our potential functionality or economical ailment. These statements are not assures of future efficiency, problem or benefits and require a number of risks and uncertainties. Genuine success might vary materially from those in the forward-seeking statements as a final result of a variety of factors, such as all those explained from time to time in our filings with the Securities and Exchange Commission. The Fund undertakes no obligation to update any ahead-wanting statements designed herein.
Contact the Fund at 1.833.845.7513 or stop by the Fund’s web-site at http://feacegif.com for added information and facts.
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Very first Eagle Alternate Credit rating, LLC