Board Approves Liquidation of Voya Natural Resources Equity Income Fund

Rhea-AI Summary

The Board of Trustees of Voya Natural Resources Equity Income Fund (NYSE:IRR) has announced a Plan of Liquidation and Termination, effective on or about June 11, 2021. Following this date, the Fund will pay liquidating distributions to its common shareholders, determining eligibility as of the close of business on June 11. Share trading will be suspended on June 14, 2021, with expected cash distributions around June 18. The Fund will adjust its portfolio in preparation for liquidation and aims to ensure sufficient cash for any unpaid liabilities.

Positive

• Initiation of liquidating distributions provides clarity to shareholders.
• Plan of Liquidation ensures that shareholders will receive cash distributions.

Negative

• Suspension of trading may impact liquidity for existing shareholders.
• Transitioning portfolio may deviate from investment objectives, leading to potential losses.

The Board of Trustees (“the Board”) of Voya Natural Resources Equity Income Fund (the “Fund”) (NYSE:IRR) has approved a Plan of Liquidation and Termination for the Fund. The Plan of Liquidation and Termination is expected to take effect on or about June 11, 2021.

Subsequent to the effectiveness of the Fund’s Plan of Liquidation and Termination, the Fund will determine and pay, or set aside in cash or cash equivalents, in an amount that it estimates is necessary to discharge any unpaid liabilities and obligations of the Fund, and make one or more liquidating distributions to the Fund’s common shareholders. Leading up to the final distribution date, as the Fund begins to transition its portfolio in anticipation of making its liquidating distributions, the Fund may deviate from its investment objectives and policies.

The Fund has fixed the close of business on June 11, 2021 as the effective date for determining the common shareholders of the Fund entitled to receive liquidating distributions. As of that time, the share transfer books of the Fund will be closed. The trading of the Fund’s shares on the New York Stock Exchange will be suspended effective before the open of business on June 14, 2021. The Fund’s liquidating distributions will be paid in cash. The Fund expects to make one or more liquidating or other distributions to common stockholders on or about June 18, 2021. Additional details with respect to the Fund’s liquidation will be provided as they become available.

The Fund is a closed-end U.S.-registered management investment company advised by Voya Investments, LLC and sub-advised by Voya Investment Management Co. LLC.

About Voya^® Investment Management

A leading, active asset management firm, Voya Investment Management manages, as of December 31, 2020, more than $245 billion for affiliated and external institutions as well as individual investors. With more than 40 years of history in asset management, Voya Investment Management has the experience and resources to provide clients with investment solutions with an emphasis on equities, fixed income, and multi-asset strategies and solutions. Voya Investment Management was named in 2015, 2016, 2017, 2018, 2019, and 2020 as a “Best Places to Work” by Pensions and Investments magazine. For more information, visit voyainvestments.com. Follow Voya Investment Management on Twitter @VoyaInvestments.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210325005907/en/

FAQ

What is the effective date of Voya Natural Resources Equity Income Fund's liquidation?

The effective date for the liquidation is on or about June 11, 2021.

When will trading of Voya Natural Resources Equity Income Fund shares be suspended?

Trading will be suspended before the open of business on June 14, 2021.

What should shareholders expect from the liquidation of the Fund?

Shareholders can expect liquidating distributions in cash on or about June 18, 2021.

How is Voya managing the Fund's assets during liquidation?

The Fund will transition its portfolio and may deviate from its investment objectives to prepare for liquidating distributions.