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RMR Real Estate Income Fund Declares Its Final Dividend And The Completion Of Its Merger Into RMR Asia Pacific Real Estate Fund

After the close of business on Friday, January 20, 2012, RMR Real Estate Income Fund (NYSE Amex: RIF) was merged with and into RMR Asia Pacific Real Estate Fund (NYSE Amex: RAP), and RIF ceased to exist as a separate publicly listed company. (Hereinafter in this press release, RIF will be referred to as “Old RIF”.) In connection with this merger, RAP was renamed “RMR Real Estate Income Fund”. (Hereinafter in this press release, RAP, as renamed, will be referred to as “New RIF”.)

On January 20, 2012, the closing net asset value per share (“NAV”) of the common stock for Old RIF was $38.24 and for New RIF was $18.25. Since the merger was based on the relative NAVs of Old RIF and New RIF, these NAVs generated a merger conversion ratio that resulted in Old RIF common shareholders receiving 2.095 shares of New RIF common stock for each share of Old RIF stock they previously held. Common shareholders of Old RIF may receive fractional shares in connection with the merger.

New RIF will trade on the NYSE Amex and will use the ticker symbol “RIF”. New RIF’s NAV will be reported under the ticker “XRAPX” on Monday, January 23, 2012. Beginning on Tuesday, January 24, 2012, New RIF’s NAV will be reported under the ticker “XRIFX”. New RIF will continue to use the CUSIP number 76970B101 for its common stock.

As a result of the merger, preferred shareholders of Old RIF received an equivalent number of shares of newly issued New RIF preferred stock. The series name, auction date, rate period, dividend payment date and liquidation preference per share of the New RIF preferred stock received by Old RIF preferred shareholders in the merger is the same as the Old RIF preferred stock that Old RIF preferred shareholders held prior to the merger. However, the CUSIP numbers of the New RIF preferred stock are different from the CUSIP numbers of the Old RIF preferred stock. New RIF’s preferred stock CUSIP numbers are:

                       

Series

         

CUSIP Number

M 74965J304
T 74965J403
W 74965J502
Th 74965J601
F 74965J205

As previously announced, common shareholders of record of Old RIF will receive the following final cash distribution consisting of Old RIF’s estimated undistributed federal investment company taxable income and net capital gains:

         

Record Date

         

Pay Date*

         

Amount Per Share

January 19, 2012 January 31, 2012 $0.06

*On or about.

Stock quotes in this article: RAP, RIF 

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