BOSTON, May 14, 2021 /PRNewswire/ -- Eaton Vance
Floating-Rate Income Plus Fund (NYSE: EFF) (the "Fund") announced
today the results of the annual meeting of shareholders held on
May 14, 2021. Shareholders
voted to approve the liquidation and termination of the Fund
pursuant to the Plan of Liquidation and Termination (the "Plan")
adopted by the Board of Trustees of the Fund. Shareholders
also voted to elect four Class II trustees.
Liquidation. The Fund expects that, on June 18, 2021 (the "Effective Date"), the
proportionate interests of shareholders in the net assets of the
Fund will be fixed on the basis of their respective holdings at the
close of business on the Effective Date. The Fund expects the
last day of secondary market trading of the Fund's shares will also
be on or about June 18, 2021, and as
such, prior to the opening of business on June 21, 2021, the Fund will cease trading on the
New York Stock Exchange.
Pursuant to the Plan, the Fund will commence the process of
liquidating its portfolio in preparation for one or more
distributions of cash to the shareholders of the Fund. The
distribution to shareholders of liquidation proceeds will occur as
soon as practicable following the Effective Date. The first
distribution, which is expected to represent at least 95% of the
liquidation proceeds, is currently expected to be made on or about
June 24, 2021. Due to
anticipated delays in the liquidation and settlement of a small
number of Fund holdings, the Fund currently expects to pay a
second, final distribution in or around October 2021, although market, economic and other
factors could result in an earlier or later final distribution
date. Beginning when the Fund commences liquidating its
portfolio, the Fund may not pursue its stated investment objective,
comply with its investment limitations or engage in normal business
activities, except for the purposes of winding up its business and
affairs, paying its liabilities and distributing its remaining
assets to shareholders. The Fund expects that,
effective as of market close on or about June 18, 2021, the Fund's shares will no longer
be actively traded in the secondary market, and there can be no
assurance that there will thereafter be a market for the purchase
or sale of the Fund's shares.
In connection with the Plan, all shares of the Fund outstanding
on the Effective Date will be redeemed as of the close of business
on the Effective Date without the imposition of any redemption
transaction fees. The proceeds of such redemption will equal the
net asset value of such shares after the Fund has paid or provided
for all of its charges, taxes, expenses and liabilities, including
certain operational costs of liquidating the Fund. The Fund must
declare and distribute to shareholders any realized capital gains
and all net investment income no later than the final liquidation
distribution. Eaton Vance Management, the Fund's investment
adviser, intends to distribute substantially all of the Fund's net
investment income at the time of, or prior to, the final
liquidation. The initial liquidation proceeds, which are
expected to be distributed to shareholders on or about June 24, 2021, are expected to include any
undistributed income that otherwise would have been included in the
Fund's regular June distribution.
The Fund expects that shareholders will be able to sell their
Fund shares in the secondary market until the market close on
June 18, 2021. Customary brokerage
charges may apply to such transactions.
Although the liquidation is not expected to be a taxable event
for the Fund, the redemption of shares of the Fund on the Effective
Date will generally be treated as a sale by shareholders for
federal income tax purposes. Please consult your personal tax
advisor about the potential tax consequences of the
liquidation.
If you have any questions regarding the liquidation, please
contact the Fund at 1-800-262-1122.
Trustee Election. As described above, the Fund's
common and preferred shareholders, voting together as a single
class, voted to elect three Class II trustees, William H. Park, Keith
Quinton and Susan J.
Sutherland. The Fund's preferred shareholders, voting
separately as a single class, voted to elect one Class II Trustee,
George J. Gorman.
Eaton Vance Corp. was acquired by Morgan Stanley on March 1, 2021. Its former Eaton Vance Management,
Parametric, Atlanta Capital and Calvert investment affiliates are
now part of Morgan Stanley Investment Management, the asset
management division of Morgan Stanley.
Shares of closed-end funds often trade at a discount from their
net asset value. The market price of Fund shares may vary from net
asset value based on factors affecting the supply and demand for
shares, such as Fund distribution rates relative to similar
investments, investors' expectations for future distribution
changes, the clarity of the Fund's investment strategy and future
return expectations, and investors' confidence in the underlying
markets in which the Fund invests. Fund shares are subject to
investment risk, including possible loss of principal invested. The
Fund is not a complete investment program and you may lose money
investing therein. An investment in the Fund may not be appropriate
for all investors. Before investing, prospective investors should
consider carefully the Fund's investment objective, strategies,
risks, charges and expenses.
This press release is for informational purposes only and is
not intended to, and does not, constitute an offer to purchase or
sell shares of the Fund. Additional information about the Fund,
including performance and portfolio characteristic information, is
available at eatonvance.com.
Statements in this press release that are not historical
facts may be forward-looking statements, as defined by the U.S.
securities laws. You should exercise caution in interpreting and
relying on forward-looking statements because they are subject to
uncertainties and other factors that may be beyond the Fund's
control and could cause actual results to differ materially from
those set forth in the forward-looking statements.
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SOURCE Eaton Vance Management