Lincoln National Convertible Securities Fund, Inc. Announces Completion of Reorganization Into Delaware Dividend Income Fund
June 24 2005 - 5:43PM
PR Newswire (US)
Lincoln National Convertible Securities Fund, Inc. Announces
Completion of Reorganization Into Delaware Dividend Income Fund
PHILADELPHIA, June 24 /PRNewswire-FirstCall/ -- Lincoln National
Convertible Securities Fund, Inc. (NYSE:LNV) (the "Fund") today
announced the completion of its reorganization into Delaware
Dividend Income Fund ("Dividend Income Fund"), an open-end series
of Delaware Group Equity Funds V. The reorganization was approved
by the Fund's shareholders at a reconvened Special Meeting of
Shareholders held on June 16, 2005. The transaction, which is
structured as a tax-free reorganization, entailed (i) the
acquisition of all of the assets of the Fund by Dividend Income
Fund in exchange for Class A shares of Dividend Income Fund and
(ii) the pro rata distribution of such shares to the Fund's
shareholders in exchange for their shares of the Fund. From this
point forward, the Fund will no longer trade or be listed on the
New York Stock Exchange, and the Fund's corporate existence will be
liquidated and dissolved. For the three months after today's
closing, former Fund shareholders who redeem shares of Dividend
Income Fund received in connection with the transaction will pay a
2% redemption fee. Questions regarding the exchange of shares in
connection with the transaction should be directed to Dividend
Income Fund's transfer agent, Delaware Service Company, at
1-800-523-1918. The Fund was a closed-end, diversified investment
management company managed by Delaware Management Company. Delaware
Management Company is a series of Delaware Management Business
Trust, a wholly owned subsidiary of Lincoln National Corporation.
The Fund's primary objective was to provide a high level of total
return through a combination of capital appreciation and current
income. As of June 22, 2005, the Fund had total assets of
approximately $85.5 million. DATASOURCE: Delaware Investments
CONTACT: Christina Ward, Corporate Communications, Delaware
Investments, +1-215-255-1388, , or Priscilla Brown, Investor
Relations, Lincoln Financial Group, +1-215-448-1422 Web site:
http://www.delawareinvestments.com/
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