HARTFORD, Conn., June 2, 2021 /PRNewswire/ -- Trading in
shares of Duff & Phelps Select MLP and Midstream Energy Fund
Inc. (NYSE: DSE), a closed-end fund subadvised by Duff &
Phelps Investment Management Co., will cease after the market
closes on June 21, 2021 in
preparation for the fund's merger into the Virtus Duff & Phelps
Select MLP and Energy Fund (I Shares: VLPIX), an open-end mutual
fund.
Through the merger, which will be effective following the close
of business of the New York Stock Exchange on June 25, 2021, DSE shareholders will receive
shares of VLPIX with a net asset value (NAV) equal to the NAV of
their DSE shares. The transaction is expected to qualify as a
tax-free reorganization for federal income tax purposes, and
shareholders will not incur any sales charge, commission or similar
fee in connection with the reorganization. After the
reorganization, shareholders will be able to purchase additional
shares of VLPIX, exchange their shares of VLPIX for Class I shares
of other Virtus Funds, or redeem their shares of VLPIX, each as set
forth in the VLPIX prospectus.
For more information about DSE, contact shareholder services at
(866) 270-7788, by email at closedendfunds@virtus.com, or through
the closed-end funds section on the web at virtus.com. For
more information about VLPIX, consult the prospectus, which is
available through the mutual funds section on the web at
virtus.com, by calling (800) 243-1574, or by sending an email to
virtus.investment.partners@virtus.com.
Fund Risks
An investment in a fund is subject to risk,
including the risk of possible loss of principal. A fund's shares
may be worth less upon their sale than what an investor paid for
them. Shares of closed-end funds may trade at a premium or discount
to their net asset value. For more information about DSE's
investment objective and risks, please see the fund's annual
report. A copy of the fund's most recent annual report may be
obtained free of charge by contacting Shareholder Services at (866)
270-7788, by email at duff@virtus.com, or by visiting the DSE
website.
Forward-Looking Information
This press release
contains statements that are, or may be considered to be,
forward-looking statements. All statements that are not historical
facts, including statements about beliefs or expectations, are
"forward-looking statements" within the meaning of The Private
Securities Litigation Reform Act of 1995. These statements may be
identified by such forward-looking terminology as "expect,"
"estimate," "plan," "intend," "believe," "anticipate," "may,"
"will," "should," "could," "continue," "project," or similar
statements or 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 uncertainty. All forward-looking
statements are as of the date of this release only; the fund
undertakes no obligation to update or review any forward-looking
statements. The fund can give no assurance that such expectations
or forward-looking statements will prove to be correct. Actual
results may differ materially. You are urged to carefully consider
all such factors.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/trading-in-shares-of-duff--phelps-select-mlp-and-midstream-energy-fund-inc-to-cease-june-21-prior-to-merger-301304505.html
SOURCE Duff & Phelps Select MLP and Midstream Energy Fund
Inc.
