HOUSTON, Nov. 3, 2014 /PRNewswire/ -- Salient
Midstream & MLP Fund (NYSE: SMM) announced today that it will
pay its fourth quarter 2014 dividend in November 2014, pending shareholder approval of
the proposed reorganization (the "Reorganization") of Salient MLP
& Energy Infrastructure Fund (NYSE: SMF) with and into SMM
(together, the "Funds" and each a "Fund"), under which shareholders
of SMF will receive SMM common shares and SMM would acquire
substantially all of the assets and liabilities of SMF. Such
transaction would occur on the basis of relative net asset value of
the Funds.
A joint special meeting of shareholders of the Funds to request
approval for the Reorganization will be held at 3 p.m. Central Standard Time, on November 13, 2014. The record date and
amount of the dividend will be announced on the date of the
meeting, subject to shareholder approval of the
Reorganization. It is anticipated that the dividend will be
payable on a date which is at least six business days after the
date of the meeting.
Salient Midstream & MLP Fund is a Delaware statutory trust registered as a
non-diversified, closed-end management investment company under the
Investment Company Act of 1940, as amended. The Fund's investment
objective is to provide a high level of total return with an
emphasis on making quarterly cash distributions to its common
shareholders. The Fund seeks to achieve that objective by investing
at least 80% of its total assets in securities of MLPs and
midstream companies. There can be no assurance that the Fund will
achieve its investment objective.
This press release contains "forward-looking statements" as
defined under the U.S. federal securities laws. Generally, the
words "believe," "expect," "intend," "estimate," "anticipate,"
"project," "will," and similar expressions identify forward-looking
statements, which generally are not historical in nature.
Forward-looking statements are subject to certain risks and
uncertainties that could cause actual future results to differ
significantly from the Fund's present expectations or projections
indicated in any forward-looking statements. These risks include,
but are not limited to, changes in economic and political
conditions; regulatory and legal changes; leverage risk; valuation
risk; interest rate risk; tax risk; the volume of sales and
purchase of shares; the continuation of investment advisory,
administration and other service arrangements; and other risks
discussed in the Fund's filings with the Securities and Exchange
Commission. You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. The Fund
undertakes no obligation to publicly update or revise any
forward-looking statements made herein. There is no assurance that
the Fund's investment objective will be attained.
CONTACT:
Chris Moon
JCPR
cmoon@jcprinc.com
973-850-7304
Salient Capital Advisors, LLC
Investor Relations
mlpinvestorrelations@salientpartners.com
713-548-2636
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SOURCE Salient Midstream & MLP Fund