Business & Finance
Business and Finance
Business and Finance
Fri, July 1, 2011 LMP Capital and Income Fund Inc. Announces Preliminary Results of Tender Offer
NEW YORK--([ BUSINESS WIRE ])--LMP Capital and Income Fund Inc. (NYSE: SCD) (the aFunda) today announced that the Funda™s tender offer for up to 8,989,232 shares of its issued and outstanding shares of common stock, representing approximately 30% of the Funda™s outstanding shares, expired on June 30, 2011, at 5:00 p.m., New York City time.
Based upon current information, approximately 16,754,981 shares were duly tendered, including shares tendered pursuant to notices of guaranteed delivery. This number is subject to adjustment and should not be considered as final. Payment for such shares will be made on or about July 8, 2011. The purchase price of properly tendered shares is $14.15 per share, equal to 98% of the per share net asset value of $14.43 as of the close of the regular trading session of the New York Stock Exchange on June 30, 2011.
The Fund is a non-diversified closed-end investment management company traded on the New York Stock Exchange under the symbol "SCD.a It is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc. (aLegg Masona) 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 Funda™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.
