Nations Government Income Term Trust 2004, Inc. Plan of Liquidation
January 02 2004 - 3:56PM
PR Newswire (US)
Nations Government Income Term Trust 2004, Inc. Plan of Liquidation
CHARLOTTE, Jan. 2 /PRNewswire-FirstCall/ -- The Board of Directors
of Nations Government Income Term Trust 2004, Inc. (the "Company")
has approved a Plan of Liquidation and Termination (the "Plan") for
the Company. The Plan is intended to accomplish the complete
liquidation and termination of the Company as both a registered
investment company and a Maryland corporation, in accordance with
its investment objectives. The Plan provides for a complete
liquidation of the Company by March 31, 2004 or shortly after. In
light of this action, the Company has suspended monthly dividends.
However, the Company expects that, pursuant to the Plan, it will
make liquidating distributions on a monthly basis leading up to the
liquidation date. The next liquidating distribution is payable on
January 29, 2004 to shareholders of record on January 12, 2004. The
Company is a diversified, closed-end management investment company.
The Company's investment objectives are to pay a high level of
current income consistent with investing in securities of high
credit quality and to return $10.00 per share (the Company's
initial public offering price per share) to investors on or about
March 31, 2004 by preserving capital through the active management
of its portfolio. The Company seeks to achieve its objectives by
investing in high quality fixed income securities which are either
(i) issued or guaranteed by the U.S. Government or its agencies or
instrumentality's or (ii) at the time of investment, rated Aaa by
Moody's Investors Service, Inc. or AAA by Standard & Poor's
Corporation or, if unrated, are determined by the investment
adviser to be of comparable quality to such securities. DATASOURCE:
Nations Government Income Term Trust 2004, Inc. CONTACT: Gerald
Murphy, Chief Financial Officer and Treasurer of Nations Government
Income Term Trust 2004, Inc., +1-704-388-9174
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