ClearBridge Energy Midstream Opportunity - EMO STOCK NEWS

ClearBridge Energy Midstream Opportunity Fund announced a cash tender offer for up to 50% of its outstanding shares at 100% of the net asset value (NAV) per share. The offer began on May 21, 2024, and will expire on June 20, 2024, unless extended. If oversubscribed, shares will be repurchased on a pro rata basis. To ensure timely payment for repurchased shares, the Fund plans to reposition its portfolio orderly. The offer's terms are detailed in documents filed with the SEC, which shareholders should review. There's no guarantee the repurchases will reduce or eliminate the discount between market price and NAV.

ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO), ClearBridge MLP and Midstream Fund (NYSE: CEM), and ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) announced the results of stockholder votes at a special meeting on May 17, 2024.

Stockholders approved the merger of CEM and CTR into EMO. Upon completion, CEM and CTR shares will convert into full shares of EMO based on net asset value, with cash paid for fractional shares.

EMO will issue new Mandatory Redeemable Preferred Stock (MRPS) to CEM and CTR holders, aligning voting rights. The funds are managed by Franklin Templeton Fund Adviser, with ClearBridge Investments as subadvisor. This move consolidates management under EMO, potentially streamlining operations and reducing costs.

ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) released unaudited balance sheet information as of April 30, 2024, showing net assets of $557.2 million, net asset value per share at $43.57, and asset coverage ratios of 1,120% for senior indebtedness and 679% for total leverage.

Franklin Templeton Fund Adviser, announced distributions for May 2024 for closed end funds. Record Date: 5/23/2024, Ex-Dividend Date: 5/22/2024, Payable Date: 5/31/2024. Ticker Fund Name Amount: CEM ClearBridge MLP and Midstream Fund Inc. $0.7700, EMO ClearBridge Energy Midstream Opportunity Fund Inc. $0.6700, CTR ClearBridge MLP and Midstream Total Return Fund Inc. $0.7000. Distributions may be dividend income, return of capital, or a combination. Stockholders will receive Form 1099-DIV in early 2025 for tax reporting. Franklin Templeton Fund Adviser, is a subsidiary of Franklin Resources, Inc. Fund share price fluctuates with market conditions. Shares often trade at a discount. All investments carry risk.

ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) announced the results of its annual meeting of stockholders. Robert D. Agdern, Carol L. Colman, and Paolo M. Cucchi were elected as Directors. PricewaterhouseCoopers LLP was ratified as the independent registered public accountants. The Fund is managed by Franklin Templeton Fund Adviser, and subadvised by ClearBridge Investments,

ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) reported its financial position as of March 31, 2024, with net assets of $566.3 million and a net asset value per share of $44.29. The Fund's asset coverage ratios under the 1940 Act were 437% for senior indebtedness and 361% for total leverage. Top ten equity holdings included Energy Transfer LP, ONEOK Inc., and Targa Resources Corp.

ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) released its unaudited financial report as of February 29, 2024. The Fund's net assets were $519.6 million, with a net asset value per share of $40.64. Asset coverage ratios were 446% for senior indebtedness and 339% for total leverage. The top ten equity holdings accounted for 70.7% of investments.

ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) reported its unaudited statement of assets and liabilities, net asset value, and asset coverage ratio as of January 31, 2024. The Fund's net assets were $494.9 million, with a net asset value per share of $38.70. The asset coverage ratio under the 1940 Act for senior indebtedness was 431%, and for total leverage was 328%. The Fund's top ten equity holdings as of January 31, 2024, accounted for 69.4% of total equity investments. ClearBridge Energy Midstream Opportunity Fund Inc. is a non-diversified, closed-end management investment company, advised by Franklin Templeton Fund Adviser, LLC and subadvised by ClearBridge Investments, LLC.

The press release announces the approval by the Board of Directors of ClearBridge MLP and Midstream Fund Inc. (CEM), ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), and ClearBridge MLP and Midstream Total Return Fund Inc. (CTR) to merge CEM with and into EMO and CTR with and into EMO. The proposed mergers are expected to occur during the third quarter of 2024 and are subject to stockholder approval. If approved, common stockholders of CEM and CTR will receive shares of common stock of EMO based on each Fund’s respective net asset value (NAV) per share, and holders of CEM’s and CTR’s mandatory redeemable preferred stock (MRPS) will receive shares of MRPS of EMO with the same aggregate liquidation preference and terms to their respective MRPS. The management and each Fund’s Board of Directors believe that the merger will result in lower operating expenses, enhanced earning potential, and greater trading volume. The merger is expected to qualify as a tax-free reorganization for federal income tax purposes. In connection with the proposal to merge, the Funds intend to file a combined proxy statement and prospectus with the SEC, and investors and stockholders are advised to read the proxy statement and prospectus when it becomes available.