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Eagle Growth and Income Opportunities Fund (formerly NYSE: EGIF) announced an additional liquidating distribution of $28,157,105, equating to $4.10 per share, to its shareholders on November 20, 2020. This follows the Board's decision to reduce the liquidate reserve to $0, alleviating certain contingent liabilities. The fund is winding down operations but will retain some cash for ongoing obligations. Shareholders may experience tax implications from this liquidation, and the Fund advises consulting tax professionals regarding potential gains or losses.
Eagle Growth and Income Opportunities Fund (formerly NYSE: EGIF) announced a second cash liquidating distribution of $0.10 per share on August 24, 2020, following the first distribution of $8.75 per share on August 3, 2020. This amounts to a 64.2% return on net asset value per share as of July 31, 2020. The distribution deferral is in response to claims from former adviser Four Wood Capital Advisors and a written demand from shareholders to sue Four Wood. The Board formed an independent committee to review the demand and has delayed transferring reserves to cover contingent liabilities.
Eagle Growth and Income Opportunities Fund (NYSE: EGIF) has initiated its liquidation process due to strategic changes made by its Board of Trustees. Following a Plan of Liquidation, the Fund sold all portfolio assets, now invested in a U.S. Treasury money market fund. Contingent Liabilities from former adviser Four Wood Capital Advisors are under review, with $29 million reserved for potential claims. Liquidating distributions to shareholders are expected to start around August 3, 2020, with the transfer of shares suspended after July 27, 2020.
The Eagle Growth and Income Opportunities Fund (NYSE: EGIF) has initiated its liquidation process, following a plan adopted by its Board. The Fund has liquidated its portfolio and invested its assets in a U.S. Treasury money market fund. Ongoing litigation is threatening the Fund from its former investment adviser, Four Wood Capital Advisors, regarding claims tied to a rejected merger proposal. Liquidating distributions will occur soon, pending the determination of a required reserve for these claims. The shares will cease trading on the NYSE post-liquidation.
Eagle Growth and Income Opportunities Fund (EGIF) has announced its intention to dissolve, liquidate, and distribute its net assets to shareholders. The decision follows the Board's inability to secure a quorum for approving new non-interim arrangements with investment advisors. Effective immediately, the Fund will cease its investment activities and enter liquidation. Shareholders will receive a cash liquidation distribution and an interest in a liquidating trust holding remaining assets. The timing for distribution and details on the trust will be provided later. Tax implications from the liquidation may arise for shareholders.
