Neuberger Berman Dividend Advantage Fund Announces Important Dates in Connection with Its Liquidation
October 21 2009 - 8:47AM
Business Wire
Neuberger Berman Dividend Advantage Fund Inc. (NYSEAmex: NDD)
(the “Fund”) has announced important dates in connection with the
liquidation which was approved by the Fund’s stockholders.
Specifically, the Fund will close its stock transfer books as of
the close of business on October 26, 2009, and shares of the Fund’s
common stock will then cease to be traded on the NYSE Amex
(formerly, American Stock Exchange). On that date, each of the
Fund’s common stockholder’s proportionate interest in the assets of
the Fund will be fixed and the common stock becomes
nontransferable. Under the terms of the Fund’s plan of liquidation
and dissolution, these stockholders will be entitled to receive
liquidating distributions.
The Fund expects to pay a liquidating distribution on or about
October 29, 2009. Should additional liquidating distributions be
necessary, the Fund will separately announce the expected dates of
any such distributions. The Fund’s net asset value per share will
continue to be posted daily on the website of the Fund’s investment
manager, at www.nb.com.
About Neuberger Berman
Neuberger Berman Group LLC is one of the world’s leading,
independent, employee-controlled asset management companies. As of
September 30, 2009, assets under management were approximately $168
billion. Established in 1939, Neuberger Berman is a leader in a
broad range of global investment solutions – equity, fixed income,
and alternatives – to institutions and individuals though
customized separately managed accounts, mutual funds and
alternative investment products. For more information please visit
our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in the Fund’s performance, a general downturn in the
economy, competition from other closed-end investment companies,
changes in government policy or regulation, inability of the Fund’s
investment manager to attract or retain key employees, inability of
the Fund to implement its investment strategy, inability of the
Fund to manage rapid expansion and unforeseen costs and other
effects related to legal proceedings or investigations of
governmental and self-regulatory organizations.
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