Lazard World Dividend & Income Fund Announces Final Results of Tender Offer
23 August 2019 - 6:05AM
Business Wire
Lazard World Dividend & Income Fund, Inc. (NYSE: LOR)
today announced the final results of its one-time tender offer to
acquire, in exchange for cash, up to 20% of its outstanding shares
of common stock (the "Offer"). The Offer expired on August 21, 2019
at 5:00 p.m., New York City time, and was oversubscribed.
Based upon information provided by Broadridge Corporate Issuer
Solutions, Inc., the information agent for the Offer (the
"Information Agent"), 3,560,562 shares, or approximately 52% of
LOR's outstanding shares, were validly tendered, and LOR has
accepted for payment 1,376,037 shares, or approximately 20% of
LOR's outstanding shares, on a pro rata basis, with appropriate
adjustment to avoid purchasing fractional shares (the "proration
factor"). The purchase price for validly tendered shares is $10.04
per share, which is equal to 98% of LOR's net asset value per share
as of the close of regular trading on the New York Stock Exchange
on August 21, 2019. The proration factor is 0.3865013, which
results in LOR accepting for payment, on a pro-rata basis,
approximately 39% of the LOR shares validly tendered by each
tendering stockholder. Payment for such shares will be made as
promptly as practicable.
Any questions regarding the Offer may be directed to the
Information Agent toll-free at (888) 789-8409.
An indirect subsidiary of Lazard Ltd (NYSE: LAZ), Lazard Asset
Management LLC, LOR's investment manager, offers a range of equity,
fixed-income, and alternative investment products worldwide. As of
July 31, 2019, LAM and affiliated asset management companies in the
Lazard Group managed $234.8 billion worth of client assets. For
more information about LAM, please visit
www.LazardAssetManagement.com. Follow LAM at @LazardAsset.
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version on businesswire.com: https://www.businesswire.com/news/home/20190822005590/en/
Media: Hillary Yaffe, +1 212 632 6528
hillary.yaffe@lazard.com
Investors: Ben Wulfsohn, +1 800 823 6300
ben.wulfsohn@lazard.com
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