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Investment Grade Municipal Income Fund Inc. Announces Record Date for 2010 Annual Meeting of Stockholders, Including Consideration of Proposal to Liquidate the Fund
Related Quotes
| Symbol | Price | Change |
|---|---|---|
| PPM | 14.18 | 0.00 |
NEW YORK--(BUSINESS WIRE)--Investment Grade Municipal Income Fund Inc. (the "Fund") (NYSE: PPM - News), has set Friday, November 20, 2009 as the record date for determination of the shareholders entitled to vote at the Fund’s annual meeting of shareholders, to be held on Thursday, February 11, 2010 (“2010 Annual Meeting”).
The matters to be considered at the 2010 Annual Meeting are as follows: (1) the election of directors; (2) a proposal to liquidate and dissolve the Fund pursuant to a plan of liquidation; (3) a shareholder proposal, if properly presented, that the Fund conduct a tender offer for all of its outstanding shares; and (4) a shareholder proposal, if properly presented, recommending that the Fund’s board be prohibited from retaining UBS Global Asset Management (Americas) Inc. and certain other entities as investment manager for the Fund.
After careful deliberation and a thorough review of the available alternatives, the Fund’s Board of Directors (“Board”) has determined that the proposal to liquidate and dissolve the Fund is in the best interests of the Fund. The Board adopted and approved a plan of liquidation subject to the approval of the Fund’s shareholders at the 2010 Annual Meeting. Further information regarding this proposal, as well as the other proposals set forth above, will be included in the Fund’s proxy materials for the 2010 Annual Meeting, which will be mailed to all shareholders later in 2009.
Contact:
UBS Global Asset Management
Closed-End Funds Desk, 888-793 8637
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