Delaware Investments Colorado Municipal Income Fund, Inc. and Delaware Investments Minnesota Municipal Income Fund II, Inc. Announce Final Distribution Amounts
January 28 2022 - 4:23PM
Business Wire
Delaware Investments Colorado Municipal Income Fund, Inc. (NYSE
American: VCF) (the “Colorado Muni Fund”) and Delaware Investments
Minnesota Municipal Income Fund II, Inc. (NYSE American: VMM) (the
“Minnesota Muni Fund”) today announce that the Colorado Muni Fund
and Minnesota Muni Fund will make final distributions in connection
with the acquisition described in the second paragraph below. This
final distribution will be payable on February 4, 2022 to common
shareholders of record on February 1, 2022. The final Colorado Muni
Fund and Minnesota Muni Fund distributions will consist of
substantially all of each fund’s undistributed tax-exempt interest
income, ordinary income and capital gain net income, if any, earned
and anticipated to be earned through close of business on February
1, 2022. In early 2023, common shareholders of Colorado Muni Fund
and common shareholders of Minnesota Muni Fund will receive a Form
1099-DIV for the calendar year 2022 that will tell shareholders how
to report these distributions for federal income tax purposes.
The final distributions are as follows:
FUND
DIVIDEND PER SHARE
Delaware Investments Colorado Municipal
Income Fund, Inc. (VCF)
$0.052
Delaware Investments Minnesota Municipal
Income Fund II, Inc. (VMM)
$0.276
Each fund’s final distribution is being made in connection with
an Agreement and Plan of Acquisition (the “Plan of Acquisition”)
providing for (i) the acquisition by Delaware Investments National
Municipal Income Fund (NYSE American: VFL) (“National Muni Fund”)
of substantially all of the assets of both Colorado Muni Fund and
Minnesota Muni Fund, in exchange for newly issued common shares of
the National Muni Fund; (ii) the distribution of such newly issued
common shares of the National Muni Fund to holders of common shares
of Colorado Muni Fund and holders of common shares of Minnesota
Muni Fund; and (iii) the dissolution of both Colorado Muni Fund and
Minnesota Muni Fund thereafter. The Plan of Acquisition was
approved by shareholders at the Joint Annual Meeting of
Shareholders (the “Annual Meeting”) held on October 11, 2021,
adjourned to November 9, 2021, and the transaction is currently
anticipated to close on February 11, 2022, at approximately 5:00
p.m. Eastern daylight time. Following completion of the
acquisition, the Colorado Muni Fund and Minnesota Muni Fund will
both be delisted.
Each Fund is a closed-end fund managed by Delaware Management
Company, a series of Macquarie Investment Management Business
Trust. The investment objective of the National Muni Fund is to
provide current income exempt from regular federal income tax
consistent with the preservation of capital. The investment
objective of the Colorado Muni Fund is to provide current income
exempt from federal income tax and from the personal income tax of
Colorado, if any, consistent with the preservation of capital. The
investment objective of the Minnesota Muni Fund is to provide
current income exempt from federal income tax and from the personal
income tax of Minnesota, if any, consistent with the preservation
of capital. As of December 31, 2021, the total assets of the
National Muni Fund, Colorado Muni Fund and Minnesota Muni Fund were
approximately $68.8 million, $74.9 million and $173.6 million,
respectively.
In connection with the Plan of Acquisition, each Fund has filed
relevant materials with the U.S. Securities and Exchange
Commission, including a combined proxy statement for each Fund and
a Form N-14 registration statement for the National Muni Fund that
contained a prospectus. The foregoing is not an offer to sell, nor
a solicitation of an offer to buy, shares of any fund.
All shareholders are advised to read the proxy
statement/prospectus in its entirety because it contains important
information regarding the Funds, the Plan of Acquisition, the
Board’s considerations in recommending the Plan of Acquisition, and
related matters. Shareholders may obtain a free copy of the proxy
statement/prospectus and other documents filed by the Funds with
the SEC, including the Funds’ most recent annual reports to
shareholders, on the SEC’s website at http://www.sec.gov, and
copies of this information may be obtained, after paying a
duplicating fee, by electronic request at the following e-mail
address: publicinfo@sec.gov. Copies of all of these documents may
be obtained upon request without charge by visiting the Funds’
website at delawarefunds.com/closed-end, or by writing to the Funds
at 610 Market Street, Philadelphia, PA 19106-2354, or calling 866
437-0252.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims
to deliver positive impact for everyone. Trusted by institutions,
pension funds, governments, and individuals to manage more than
$US531 billion in assets globally1, we provide access to specialist
investment expertise across a range of capabilities including fixed
income, equities, multi-asset solutions, private credit,
infrastructure, renewables, natural assets, real estate, and
transportation finance.
Macquarie Asset Management is part of Macquarie Group, a
diversified financial group providing clients with asset
management, finance, banking, advisory and risk and capital
solutions across debt, equity, and commodities. Founded in 1969,
Macquarie Group employs approximately 16,400 people in 31 markets
and is listed on the Australian Securities Exchange.
Other than Macquarie Bank Limited ABN 46 008 583 542
(“Macquarie Bank”), any Macquarie Group entity noted in this
material is not an authorised deposit-taking institution for the
purposes of the Banking Act 1959 (Commonwealth of Australia). The
obligations of these other Macquarie Group entities do not
represent deposits or other liabilities of Macquarie Bank.
Macquarie Bank does not guarantee or otherwise provide assurance in
respect of the obligations of these other Macquarie Group entities.
In addition, if this document relates to an investment, (a) the
investor is subject to investment risk including possible delays in
repayment and loss of income and principal invested and (b) none of
Macquarie Bank or any other Macquarie Group entity guarantees any
particular rate of return on or the performance of the investment,
nor do they guarantee repayment of capital in respect of the
investment.
1 As at 30 September 2021
© 2022 Macquarie Management Holdings, Inc.
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version on businesswire.com: https://www.businesswire.com/news/home/20220128005532/en/
Investors Computershare 866 437-0252
delawarefunds.com/closed-end
Media Lee Lubarsky 347 302-3000
Lee.Lubarsky@macquarie.com Sarah Stein 212 231-0323
Sarah.Stein@macquarie.com
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