FMO Announces Reverse Share Split

NEW YORK, July 10, 2020 (GLOBE NEWSWIRE) -- Fiduciary/Claymore Energy Infrastructure Fund (“FMO” or the “Fund”) announced today that the Fund’s Board of Trustees approved a reverse share split of 1-for-5 to be effective on July 27, 2020. Upon the effectiveness of the reverse share split, every five outstanding common shares of FMO will automatically be converted into one common share. The Fund's common shares will continue trading on the New York Stock Exchange under the Fund’s existing ticker symbol (FMO), but will be assigned a new CUSIP number (31647Q 205). The Fund’s common shares are expected to begin trading on a split-adjusted basis when the market opens on July 27, 2020.

A reverse share split would reduce the total number of the Fund’s outstanding shares and may help improve the Fund’s positioning in the marketplace and liquidity for new and existing shareholders. A reverse share split will not alter the rights or total value of a shareholder’s investment in the Fund, nor will it be a taxable event for Fund investors.

No fractional shares will be issued as a result of the reverse share split. Shareholders who would otherwise have received fractional shares in the reverse share split will be paid an amount based on the amount of fractional shares held.

More Information About the Fund

The Fund's investment objective is to provide a high level of after-tax total return with an emphasis on current distributions paid to shareholders. Under normal market conditions, the Fund invests at least 80% of its managed assets in energy infrastructure master limited partnerships (“MLPs”) and other energy infrastructure companies (“energy infrastructure entities”) and invests at least 65% of its managed assets in equity securities of energy infrastructure entities. A substantial portion of the energy infrastructure entities in which the Fund invests are engaged primarily in the energy, natural resources and real estate sectors.

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Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and ...

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