Duff & Phelps Select MLP and Midstream Energy Fund Inc. shares to cease trading on June 21 prior to merger
HARTFORD, Connecticut., June 2, 2021 / PRNewswire / – Trading in shares of Duff & Phelps Select MLP and Midstream Energy Fund Inc. (NYSE: DSE), a closed-end fund under-advised by Duff & Phelps Investment Management Co., will cease after market close on June 21, 2021 with a view to the merger of the fund into the Virtus Duff & Phelps Select MLP and Energy Fund (I Shares: VLPIX), a mutual fund with variable capital.
Through the merger, which will be effective after the close of business of the New York Stock Exchange on June 25, 2021, DSE shareholders will receive VLPIX shares with a net asset value (NAV) equal to the NAV of their DSE shares. The transaction should be considered a tax-exempt reorganization for federal income tax purposes, and shareholders will not incur any selling costs, commissions or similar charges in connection with the reorganization. After the reorganization, shareholders will be able to purchase additional VLPIX shares, exchange their VLPIX shares for Class I shares of other Virtus funds or redeem their VLPIX shares, each as set out in the VLPIX prospectus.
For more information on DSE, contact Shareholder Services at (866) 270-7788, by email at [email protected], or by the closed funds section on the web at virtus.com. For more information on VLPIX, see the prospectus, available through the mutual fund section on the web at virtus.com, by calling (800) 243-1574, or by sending an email to [email protected].
Risks of the Fund
An investment in a fund is subject to risks, including the risk of possible loss of capital. A fund’s shares may be worth less when sold than what an investor paid for them. Closed-end fund shares may trade at a premium or a discount to their net asset value. For more information on DSE’s investment objective and risks, please see the fund’s annual report. A copy of the fund’s most recent annual report can be obtained free of charge by contacting Shareholder Services at (866) 270-7788, by email at [email protected], or by visiting the DSE website.
This press release contains statements that are, or may be considered, forward-looking statements. All statements that are not historical fact, including statements about belief or expectation, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by forward-looking terminology as ” expect, “” estimate “,” plan “,” intend “,” believe “,” anticipate “,” can “,” will “,” should “,” could “,” continue “,” plan ” ”, Or statements or similar variations of such terms. Forward-looking statements are based on a series of expectations, assumptions and projections; are not guarantees of future results or performance; and may involve risks and uncertainties. All forward-looking statements are as of the date of this release only; the fund assumes no obligation to update or review any forward-looking statements. The fund cannot guarantee that any such forward-looking expectations or statements will prove to be correct. Actual results may differ materially. You are urged to carefully consider all of these factors.
SOURCE Duff & Phelps Select MLP and Midstream Energy Fund Inc.