Global Income and Currency Fund Announces Expiration of Annual Share Repurchase Offer
April 11 2012 - 5:18PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced the expiration of the annual repurchase offer of shares
of common stock for the Global Income and Currency Fund (NYSE:
GCF). The fund is an interval fund and offers its
stockholders the opportunity to tender shares once annually, which
the fund will repurchase at net asset value (NAV). The fund must
repurchase between five and 25 percent of its outstanding shares.
The repurchase offer and withdrawal rights expired at 5 p.m. ET on
Wednesday, April 11, 2012.
The fund elected to repurchase up to five percent of its
outstanding common shares at a price equal to its NAV as of the
close of regular New York Stock Exchange (NYSE) trading on April
25, 2012. The repurchase price is subject to a repurchase fee of up
to 1.85 percent of the NAV per share repurchased, which will be
deducted from the repurchase price. As of Wednesday, April 11,
2012, there were 5,360,486 outstanding shares of the fund, and the
repurchase amount of five percent of its outstanding shares is
approximately 268,024 shares.
The preliminary count by Computershare, Inc., the fund’s
depositary agent, indicated that approximately 1,548,677 shares
were validly tendered prior to the expiration of the fund’s
repurchase offer. This count is subject to final confirmation and
the proper delivery of all shares tendered and not withdrawn.
Because the number of shares tendered exceeds the number of shares
that the fund is offering to repurchase, those fund shares tendered
will be accepted on a pro-rata basis. The preliminary ratio of
shares tendered to be accepted for payment is approximately 16.91
percent.
Neither the fund nor its Board made any recommendation to any
stockholder as to whether to tender or refrain from tendering
shares in the repurchase offer.
The fund's investment objective is to provide current income
while also seeking total returns. The fund seeks to achieve its
investment objective by constructing and actively managing a
portfolio of investments that provides long and short exposure to
selected foreign currencies.
Nuveen Investments provides high-quality investment services
designed to help secure the long-term goals of institutional and
individual investors as well as the consultants and financial
advisors who serve them. Nuveen Investments markets a wide range of
specialized investment solutions which provide investors access to
capabilities of its high-quality boutique investment
affiliates—Nuveen Asset Management, Symphony Asset Management, NWQ
Investment Management Company, Santa Barbara Asset Management,
Tradewinds Global Investors, Winslow Capital Management, and
Gresham Investment Management. In total, Nuveen Investments managed
approximately $230 billion as of January 31, 2012. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
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