AIM Select Real Estate Income Fund Board of Trustees Approves Redemptions of Auction Rate Preferred Shares (Series M, W, R and F
20 Settembre 2006 - 12:01AM
Business Wire
On September 19, 2006, the Board of Trustees of AIM Select Real
Estate Income Fund (the "Fund") (NYSE:RRE) unanimously voted to
approve the redemption by the Fund of all of its outstanding Series
M, Series W, Series R and Series F Auction Rate Preferred Shares
(the "ARPS"). The Board has set the terms of such redemptions,
which terms are stated below. The ARPS had been used by the Fund to
enhance net income distributable to holders of the Fund's Common
Shares. As a result of the redemption by the Fund of the ARPS, it
is expected that net income available for distribution to the
holders of the Fund's Common Shares will decrease. Series M ARPS
The Fund will redeem 100% (2,050 shares) of its then outstanding
Series M Auction Rate Preferred Shares par value $.001 per share,
$25,000 Liquidation Preference per share (the "Series M ARPS"), on
Tuesday, October 24, 2006 (the "Series M Redemption Date"). The
Series M ARPS will be redeemed pursuant to and in accordance with
Part I, Section 3(a)(i) of the Fund's Second Amended and Restated
Statement Establishing and Fixing the Rights and Preference of the
Auction Rate Preferred Shares. All such Series M ARPS are to be
redeemed from CUSIP # 00888R-20-6. On the Series M Redemption Date,
shareholders of the Series M ARPS will receive $25,000 per share
for each Series M ARPS share redeemed, which is equal to the
liquidation preference of the Series M ARPS, plus an amount equal
to the accumulated but unpaid dividends on such Series M ARPS for
the weekly dividend period ending the business day before the
Series M Redemption Date. Dividends on the Series M ARPS to be
redeemed will cease to accumulate on the Series M Redemption Date.
Series W ARPS The Fund will redeem 100% (2,050 shares) of its then
outstanding Series W Auction Rate Preferred Shares par value $.001
per share, $25,000 Liquidation Preference per share (the "Series W
ARPS"), on Thursday, November 2, 2006 (the "Series W Redemption
Date"). The Series W ARPS will be redeemed pursuant to and in
accordance with Part I, Section 3(a)(i) of the Fund's Second
Amended and Restated Statement Establishing and Fixing the Rights
and Preference of the Auction Rate Preferred Shares. All such
Series W ARPS are to be redeemed from CUSIP # 00888R-30-5. On the
Series W Redemption Date, shareholders of the Series W ARPS will
receive $25,000 per share for each Series W ARPS share redeemed,
which is equal to the liquidation preference of the Series W ARPS,
plus an amount equal to the accumulated but unpaid dividends on
such Series W ARPS for the weekly dividend period ending the
business day before the Series W Redemption Date. Dividends on the
Series W ARPS to be redeemed will cease to accumulate on the Series
W Redemption Date. Series R ARPS The Fund will redeem 100% (2,050
shares) of its then outstanding Series R Auction Rate Preferred
Shares par value $.001 per share, $25,000 Liquidation Preference
per share (the "Series R ARPS"), on Friday, November 10, 2006 (the
"Series R Redemption Date"). The Series R ARPS will be redeemed
pursuant to and in accordance with Part I, Section 3(a)(i) of the
Fund's Second Amended and Restated Statement Establishing and
Fixing the Rights and Preference of the Auction Rate Preferred
Shares. All such Series R ARPS are to be redeemed from CUSIP #
00888R-40-4. On the Series R Redemption Date, shareholders of the
Series R ARPS will receive $25,000 per share for each Series R ARPS
share redeemed, which is equal to the liquidation preference of the
Series R ARPS, plus an amount equal to the accumulated but unpaid
dividends on such Series R ARPS for the weekly dividend period
ending the business day before the Series R Redemption Date.
Dividends on the Series R ARPS to be redeemed will cease to
accumulate on the Series R Redemption Date. Series F ARPS The Fund
will redeem 100% (2,050 shares) of its then outstanding Series F
Auction Rate Preferred Shares par value $.001 per share, $25,000
Liquidation Preference per share (the "Series F ARPS"), on Monday,
October 30, 2006 (the "Series F Redemption Date"). The Series F
ARPS will be redeemed pursuant to and in accordance with Part I,
Section 3(a)(i) of the Fund's Second Amended and Restated Statement
Establishing and Fixing the Rights and Preference of the Auction
Rate Preferred Shares. All such Series F ARPS are to be redeemed
from CUSIP # 00888R-50-3. On the Series F Redemption Date,
shareholders of the Series F ARPS will receive $25,000 per share
for each Series F ARPS share redeemed, which is equal to the
liquidation preference of the Series F ARPS, plus an amount equal
to the accumulated but unpaid dividends on such Series F ARPS for
the weekly dividend period ending the business day before the
Series F Redemption Date. Dividends on the Series F ARPS to be
redeemed will cease to accumulate on the Series F Redemption Date.
This communication does not constitute an offer to purchase or sell
any securities nor is it a solicitation of any proxy. About AIM
Investments AIM Investments is dedicated to building solutions for
its clients with exceptional products and services through multiple
investment management styles and a broad range of investment
portfolios - mutual funds, exchange-traded funds, retirement
products, separately managed accounts for high-net-worth and
institutional investors, annuities, cash management, college
savings plans and offshore products. For more information, visit
www.aiminvestments.com. AIM Investments had approximately $138
billion in assets under management as of August 31, 2006. AIM
Investments is a service mark of A I M Management Group Inc. A I M
Advisors, Inc., A I M Capital Management, Inc., and AIM Private
Asset Management, Inc. are the investment advisors for the products
and services represented by AIM Investments. A I M Distributors,
Inc. is the distributor for the retail mutual funds and Fund
Management Company is the distributor for the institutional money
market funds represented by AIM Investments. About INVESCO
Institutional INVESCO Institutional (N.A.), Inc. is the principal
adviser in the North American institutional division of AMVESCAP
PLC. It is registered as an investment adviser with the SEC and is
the subadviser to AIM Select Real Estate Income Fund. Dallas-based
INVESCO Real Estate, the real estate division of INVESCO
Institutional, commenced operations in 1983. For more information,
visit www.invescorealestate.com. About AMVESCAP A I M Management
Group Inc. is a subsidiary of AMVESCAP PLC, a leading independent
global investment manager, dedicated to helping people worldwide
build their financial security. Operating under the AIM, INVESCO
and Atlantic Trust brands, AMVESCAP strives to deliver outstanding
products and services through a comprehensive array of retail and
institutional products for clients around the world. The Company,
which had approximately $429 billion in assets under management as
of August 31, 2006, is listed on the London, New York and Toronto
stock exchanges with the symbol "AVZ." Additional information is
available at www.amvescap.com. AIM Select Real Estate Income Fund
is a closed-end fund which is traded on the New York Stock
Exchange.
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