RMR Funds Announce Results Of Annual Meeting And Commencement Of RMR Asia Pacific Real Estate Fund Tender Offer

RMR Real Estate Income Fund (NYSE Amex: RIF) and RMR Asia Pacific Real Estate Fund (NYSE Amex: RAP) announced the results of their annual meetings of shareholders held on December 13, 2011 as follows:

John L. Harrington was elected as a Class I Trustee of each of the Funds to serve a three year term until the annual meeting of shareholders in 2014. The preliminary tabulations of the percentage of shareholders’ votes cast for John L. Harrington are as follows:

Fund						Percentage of Total Eligible Shares OutstandingCast For*
RIF						80%
RAP						91%

*With respect to RIF, by holders of its common and preferred shares, voting together as a single class.

Also at the RAP annual meeting, in connection with the proposed reorganization of RIF into RAP, shareholders of RAP approved the following proposals:

• the issuance of additional common shares of RAP in connection with the reorganization;
• revisions to the fundamental investment objectives and restrictions of RAP; and
• a new investment advisory contract between RAP and RMR Advisors, Inc.

In the reorganization, common shareholders of RIF will receive common shares of RAP. The aggregate net asset value (“NAV”) of the RAP common shares distributed to RIF shareholders will equal the aggregate NAV of RIF’s common shares outstanding immediately prior to the reorganization after giving effect to RIF’s share of the costs of the reorganization. The number of new common shares to be distributed will be determined as of the end of trading on the closing date of the reorganization. Pursuant to the reorganization, preferred shareholders of RIF will receive preferred shares of RAP, the aggregate liquidation preference of which will equal the aggregate liquidation preference of RIF’s preferred shares outstanding immediately prior to the reorganization. The terms of the preferred shares, including the auction dates, rate period and dividend payment dates of the preferred shares issued in the reorganization will be substantively identical to the terms of the RIF preferred shares.

1 2 3 4 5 Next › Last »