NEW YORK, May 29, 2019 /PRNewswire/ -- The Special
Meeting of Shareholders (the "Special Meeting") of Royce Low-Priced
Stock Fund ("Low-Priced Stock") to consider the proposed
reorganization of Low-Priced Stock into Royce Micro-Cap Fund
("Micro-Cap") was opened on May 28,
2019 but was adjourned to provide more time for Low-Priced
Stock to achieve the required quorum. The Special Meeting
will reconvene on Thursday June 27,
2019, at 11:00 a.m. at the
offices of Low-Priced Stock, 745 Fifth Avenue, New York, NY 10151. As of May 28, 2019, approximately 89.4% of the
Low-Priced Stock shares represented by proxy delivered to
Low-Priced Stock have authorized a vote in favor of the proposed
reorganization.
Completion of the reorganization is subject to approval by
Low-Priced Stock shareholders and the satisfaction of certain
customary closing conditions, including the receipt of special U.S.
federal income tax counsel relating to the tax-free nature of the
reorganization for U.S. federal income tax purposes.
The assets and liabilities of Low-Priced Stock would be
exchanged for shares of Micro-Cap as part of the reorganization,
with shareholders of Low-Priced Stock becoming shareholders of
Micro-Cap. No sales charges or redemption fees would be imposed in
connection with the reorganization. The Micro-Cap shares to be
received by Low-Priced Stock shareholders in the reorganization
will be of the same class and will be equal in value to the
Low-Priced Stock shares held by such shareholders immediately prior
to the reorganization.
In the event you were a Low-Priced shareholder as of
March 18, 2019 and have not voted
yet, please vote promptly so your vote can be received prior to
June 27, 2019. Your vote is
important, no matter the size of your Low-Priced Stock
holdings.
Please call Royce Investor Services toll-free at 1-800-221-4268
with any questions you may have about the proposed
reorganization. If you need assistance voting, you may call
Computershare Fund Services, Low-Priced Stock's proxy solicitor,
toll free at 1-866-209-8568.
About Royce Micro-Cap Fund
Micro-Cap seeks long-term growth of capital. Royce &
Associates, LP ("Royce"), Micro-Cap's investment adviser, normally
invests at least 80% of Micro-Cap's net assets in equity securities
of micro-cap companies with market caps up to $1 billion. Royce uses multiple investment
themes and offers wide exposure to micro-cap stocks by investing in
companies with strong fundamentals and/or prospects selling at
prices that Royce believes do not fully reflect these attributes.
Royce considers companies with strong balance sheets, attractive
growth prospects, and/or the potential for improvement in cash flow
levels and internal rates of return, among other factors.
James P. Stoeffel is Micro-Cap's
lead portfolio manager, and Portfolio Manager Brendan J. Hartman manages Micro-Cap with
him.
An investor should carefully consider the investment objective,
risks, fees, charges, and expenses of Micro-Cap before investing or
sending money. This and other important information about The Royce
Funds can be found in the Funds' prospectus. To obtain a
prospectus, and information about The Royce Funds, please call
(800) 221-4268 or visit www.roycefunds.com. Please read the
prospectus carefully before investing. Distributor: Royce Fund
Services, LLC.
Royce Low-Priced Stock Fund
Investment Class: RLPHX,
780905246
Service Class: RYLPX, 780905808
Royce Micro-Cap Fund
Investment Class: RYOTX,
780905709
Service Class: RMCFX, 780905659
Consultant Class: RYMCX, 780905774
About Royce & Associates, LP: Royce & Associates, LP,
is a small-cap equity specialist offering distinct investment
strategies with unique risk/return profiles designed to meet a
variety of investors' needs. For more than 40 years, our strategies
have focused on active, risk-conscious investing driven by deep,
fundamental company research. Chuck
Royce, the firm's founder and a pioneer of small-cap
investing, enjoys one of the longest tenures in the industry. Royce
& Associates, LP is a subsidiary of Legg Mason Inc. (NYSE: LM).
Royce Fund Services, LLC, the Fund's distributor, is a member of
FINRA and the SIPC.
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SOURCE Royce & Associates