NEW YORK, NEW YORK--(Marketwire - Aug. 15, 2012) - Helios Total Return Fund, Inc. (the "Fund") (HTR) today announced that its Board of Directors approved a 1-for-4 reverse stock split. The Fund expects the reverse stock split to be effective at 8:00 a.m. EST on Wednesday, August 22, 2012. The Fund is expected to trade on a split-adjusted basis under its new CUSIP number of 42327V208, beginning Wednesday, August 22, 2012.
The reverse stock split will result in every four outstanding shares being converted into one share, thereby reducing the number of shares outstanding from approximately 41.8 million to approximately 10.5 million. Stockholders will be paid cash for any fractional shares. Once the reverse stock split is complete, each stockholder's account will reflect fewer shares with a higher net asset value and market price per share. The reverse stock split will not affect the Fund's portfolio or the total value of each individual stockholder's investment as each stockholder will continue to hold the same percentage of shares following the completion of the reverse stock split.
The reverse stock split is intended to enhance stockholder value. The reverse stock split will result in a higher per share market price of the Fund's common shares, and may benefit stockholders and the Fund by reducing certain per-share transaction fees and other administrative costs.
The Fund will not issue new post-split share certificates. Current holders of certificates representing pre-split shares of the Fund will receive non-certificated post-split shares, meaning their holdings will be reflected only in the Fund's record book.
The reverse split will not result in a taxable transaction for holders of the Fund, however, the exchange of fractional shares for cash may cause some stockholders to realize gains or losses, which could create a taxable event for those stockholders. Please contact your tax advisor regarding your particular situation.
Brookfield is a global alternative asset manager with approximately $150 billion in assets under management as of June 30, 2012. We have over a 100-year history of owning and operating assets with a focus on property, renewable power, infrastructure and private equity. We offer a range of public and private investment products and services, which leverage our expertise and experience and provide us with a distinct competitive advantage in the markets where we operate. On behalf of our clients, Brookfield is also an active investor in the public securities markets, where our experience extends nearly 40 years. Over this time, we have successfully developed several investment operations and built expertise in the management of institutional portfolios, retail mutual funds, and structured product investments.
Through our SEC-registered investment advisor, Brookfield Investment Management, our public market activities complement our core competencies as a direct investor. These activities encompass global listed real estate and infrastructure equities, corporate high yield investments, opportunistic credit strategies and a dedicated insurance asset management division. Headquartered in New York, NY, Brookfield Investment Management maintains offices and investment teams in Toronto, Chicago, Boston and London. Helios Total Return Fund, Inc. is managed by Brookfield Investment Management Inc.
The Fund uses its web site as a channel of distribution of material company information. Financial and other material information regarding the Fund is routinely posted on and accessible at www.brookfieldim.com.