Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. Announces Liqudiation Proposal
Cohen & Steers MLP Income and Energy Opportunity Fund (NYSE: MIE) announced a proposal for liquidation and dissolution based on a thorough review of market challenges and the Fund's financial status. The Board of Directors believes this decision is in the best interest of stockholders. A special meeting for stockholder approval is scheduled for May 27, 2021, at 10:00 AM ET. This move comes as a response to ongoing difficulties faced by closed-end MLP funds over the past few years, aiming to address asset levels and expenses.
- Proposal for liquidation aims to protect stockholder interests.
- Liquidation proposal indicates ongoing challenges in the market for MLP funds.
- Potential loss of investment for stockholders following liquidation.
NEW YORK, Jan. 27, 2021 /PRNewswire/ -- Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. (NYSE: MIE; the "Fund"), announced today that its Board of Directors has approved Fund management's recommendation to seek stockholder approval for the liquidation and dissolution of the Fund.
The determination to seek the liquidation and dissolution of the Fund was based on an assessment of a variety of factors, including the challenging fundamental and market environment that closed-end MLP funds have faced for the last several years, the Fund's current level of assets and expenses, as well as a review of potential alternatives. Ultimately it was determined by Fund management and the Board of Directors that it was in the best interest of stockholders to liquidate the Fund.
The proposal to liquidate and dissolve the Fund, which requires the approval of stockholders, will be submitted for approval at a special meeting of stockholders, scheduled for May 27, 2021 at 10:00 AM Eastern Time (ET).
Investors should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The Fund's most recent periodic reports and other regulatory filings may be obtained by visiting cohenandsteers.com and the Securities and Exchange Commission's EDGAR Database, or by contacting your financial professional. Please read these reports and other filings carefully before investing.
Website: https://www.cohenandsteers.com/
Symbol: (NYSE: CNS)
About Cohen & Steers. Cohen & Steers is a global investment manager specializing in liquid real assets, including real estate securities, listed infrastructure and natural resource equities, as well as preferred securities and other income solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong and Tokyo.
Forward-Looking Statements
This press release and other statements that Cohen & Steers may make may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, which reflect the company's current views with respect to, among other things, its operations and financial performance. You can identify these forward-looking statements by the use of words such as "outlook," "believes," "expects," "potential," "continues," "may," "will," "should," "seeks," "approximately," "predicts," "intends," "plans," "estimates," "anticipates," or the negative versions of these words or other comparable words. Such forward-looking statements are subject to various risks and uncertainties.
Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. The company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.
View original content:http://www.prnewswire.com/news-releases/cohen--steers-mlp-income-and-energy-opportunity-fund-inc-announces-liqudiation-proposal-301215733.html
SOURCE Cohen & Steers, Inc.
FAQ
What is the liquidation proposal for Cohen & Steers MLP Income and Energy Opportunity Fund (MIE)?
Why is Cohen & Steers MLP Income and Energy Opportunity Fund (MIE) seeking liquidation?
When will the special meeting for the liquidation of the Fund take place?
How does the liquidation affect investors in Cohen & Steers MLP Income and Energy Opportunity Fund (MIE)?
What are the potential risks associated with the liquidation of the Cohen & Steers MLP Income and Energy Opportunity Fund (MIE)?
