TORONTO, ONTARIO--(Marketwire - Nov. 21, 2012) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR OVER U.S. WIRE SERVICES
Front Street MLP Income Fund Ltd. ("FS MLP") (TSX:MLP) and Front Street MLP Income Fund II Ltd. ("FS MLP II") (TSX:MLQ) each held a special meeting of shareholders on November 21, 2012, to consider the proposed merger of FS MLP and FS MLP II (together, the "Funds").
The requisite quorum of shareholders was not present at the FS MLP meeting and the meeting was adjourned to reconvene at 10:00 a.m. (Eastern time) on December 3, 2012.
FS MLP II announced that shareholders at its meeting approved the special resolution to authorize the merger of the Funds.
Additional details regarding the proposed merger were outlined in the joint management proxy circular dated October 19, 2012 and sent to shareholders of record on October 22, 2012. The joint management proxy circular is also available at www.sedar.com. Shareholders of FS MLP are encouraged to complete voting instruction forms in order that their equity shares can be voted at the adjourned meeting. If the proposed merger is approved by shareholders of FS MLP at the adjourned meeting, the merger is expected to occur on or about December 13, 2012.
Certain statements in this press release may be viewed as forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, intentions, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "is expected", "anticipates", "plans", "estimates" or "intends" (or negative or grammatical variations thereof), or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be forward-looking statements. Statements which may constitute forward-looking statements relate to: the proposed timing of the merger and expected completion thereof; and the Funds that are proposed to be merged. Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements including as a result of changes in the general economic and political environment, changes in applicable legislation, and the performance of each Fund. There are no assurances the Funds can fulfill such forward-looking statements and the Funds do not undertake any obligation to update such statements. Such forward-looking statements are only predictions; actual events or results may differ materially as a result of risks facing one or more of the Funds, some of which are beyond the control of the Funds.