LMP Capital and Income Fund Inc. Announces Final Results of Tender Offer
July 07 2011 - 5:00PM
Business Wire
LMP Capital and Income Fund Inc. (NYSE: SCD) (the “Fund”)
announced today that, in accordance with its tender offer for up to
8,989,232 of its issued and outstanding shares of common stock,
which expired on June 30, 2011, the Fund has accepted that number
of shares today for payment at $14.15 per share. These shares
represent approximately 30% of the Fund’s outstanding shares.
A total of 16,711,593 were properly tendered and not withdrawn
by June 30, 2011, the final date for withdrawals. Because the
number of shares tendered exceeds 8,989,232 shares, the tender
offer has been oversubscribed. Therefore, in accordance with the
terms and conditions specified in the tender offer, the Fund will
purchase shares from all tendering stockholders on a pro rata
basis, disregarding fractions. Accordingly, on a pro rata basis,
53.790% of shares for each stockholder who properly tendered shares
have been accepted for payment. The Fund will transmit payment to
purchase the duly tendered and accepted shares on July 8, 2011.
The Fund is a non-diversified closed-end investment management
company traded on the New York Stock Exchange under the symbol
"SCD.” It is advised by Legg Mason Partners Fund Advisor, LLC, a
wholly owned subsidiary of Legg Mason, Inc. (“Legg Mason”) and is
sub-advised by ClearBridge Advisors, LLC and Western Asset
Management Company, affiliates of the adviser.
For more information, please contact the Fund at 1-888-777-0102
or consult the Fund’s web site at www.leggmason.com/cef.
Data and commentary provided in this press release are for
informational purposes only. Legg Mason and its affiliates do not
engage in selling shares of the Fund.
This press release may contain statements regarding plans and
expectations for the future that constitute forward-looking
statements within the Private Securities Litigation Reform Act of
1995. All statements other than statements of historical fact are
forward-looking and can be identified by the use of words such as
"may," "will," "expect," "anticipate," "estimate," "believe,"
"continue" or other similar words. Such forward-looking statements
are based on the Fund's current plans and expectations, and are
subject to risks and uncertainties that could cause actual results
to differ materially from those described in the forward-looking
statements. Additional information concerning such risks and
uncertainties are contained in the Fund's filings with the
Securities and Exchange Commission.
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