Macquarie Global Infrastructure Total Return Fund Inc. Announces Final
Results of Cash Tender Offer
NEW YORK -- November 20, 2012
Macquarie Global Infrastructure Total Return Fund Inc. (NYSE: MGU) (the
“Fund”) announced today the final results of its cash tender offer for up to
3,463,415 (representing approximately 20%) of its issued and outstanding
shares of common stock (the “Offer”). The Offer expired on November 16, 2012,
at 12:00 midnight, New York City time.
Based on information provided by The Colbent Corporation, the depository for
the tender offer, approximately 8,199,887 shares of common stock or
approximately 47.4% of the Fund’s outstanding shares of common stock were
properly tendered, and the Fund has accepted 3,463,415 shares for cash payment
at a price equal to $19.49 per share, which represents 95% of the Fund’s net
asset value per share (“NAV”) as of the close of regular trading session of
the New York Stock Exchange (“NYSE”) on November 19, 2012. Since the total
number of shares tendered exceeds the number of shares the Fund offered to
purchase, on a pro-rated basis, 42.2% of the shares of common stock tendered
by each tendering shareholder were accepted for payment. Following the
purchase of the properly tendered shares, the Fund will have approximately
13,853,659 outstanding shares.
The Fund previously announced that it would commence a subsequent conditional
offer for up to 10% of the then-outstanding shares of common stock at a price
equal to 92% of the net asset value per share, determined as of the business
day immediately following the day the subsequent conditional tender offer
expires, if: (1) more than 25% of the Fund’s outstanding shares of common
stock are validly tendered and not properly withdrawn pursuant to the Offer
and (2) the Fund’s shares have traded at a market price that represents an
average daily discount from net asset value of more than 8% during the
20-business day period beginning January 15, 2013 (“measuring period”). The
Fund would commence a subsequent tender offer no later than fifteen business
days following the conclusion of the measuring period. The first condition has
been met because more than 25% of the Fund’s outstanding shares of common
stock were validly tendered and not withdrawn pursuant to the Offer. The
subsequent conditional offer will occur if the second condition is met, which
will be announced after the end of the measuring period.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. These statements are
based on the current expectations and beliefs of the Fund’s management and are
subject to a number of factors and uncertainties that could cause actual
results to differ materially from those described in the forward-looking
statements. The forward-looking statements contained in this document include
references to completion of the tender offer and the payment for shares
related thereto. These statements, including their underlying assumptions, are
subject to risks and uncertainties and are not guarantees of future
performance. Results may differ due to various factors such as the possibility
that shareholders may not tender their shares in the tender offer, or other
conditions to completion of the tender offer are not satisfied. For further
details of these risks, you should read our filings with the Securities and
Exchange Commission related to the tender offer, including our Schedule TO and
the documents referred to therein. Except as required by law, the Fund is
under no obligation to (and expressly disclaims any such obligation to) update
or alter its forward-looking statements whether as a result of new
information, future events, or otherwise.
About Macquarie Global Infrastructure Total Return Fund Inc.
Macquarie Global Infrastructure Total Return Fund Inc. is a non-diversified,
closed-end management investment company that seeks to provide a high level of
total return consisting of dividends and other income, and capital
appreciation. The Fund’s investment adviser is Macquarie Capital Investment
Management LLC with its principal executive offices located at 125 West 55^th
Street, New York, New York 10019. The Fund is a closed-end fund and does not
continuously offer or redeem shares.
Macquarie Group (Macquarie) is a global provider of banking, financial,
advisory, investment and funds management services. Macquarie’s main business
focus is making returns by providing a diversified range of services to
clients. Founded in 1969, Macquarie operates in more than 70 office locations
in 28 countries and employs more than 13,400 people. Assets under management
total approximately US$351 billion at September30, 2012.
Macquarie Global Infrastructure Total Return Fund Inc.
Brad Frishberg, 212-231-1000
Director, Chief Executive Officer and President
Paula Chirhart, +1 212-231-1310
AST Fund Solutions, LLC
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