Western Asset Intermediate Muni Fund Inc (SBI)

Symbol Overview


Latest Western Asset Intermediate Muni Fund Inc (SBI) company news

Legg Mason Partners Fund Advisor, LLC Announces Distributions for the Months of September, October and November 2018

NEW YORK--(BUSINESS WIRE)--

Legg Mason Partners Fund Advisor, LLC announced today that certain closed end funds have declared their distributions for the months of September, October and November 2018.

The following dates apply to the distribution schedule below:

                         
Month       Record Date       Ex-Dividend Date       Payable Date
September       9/21/2018       9/20/2018       10/01/2018
October       10/19/2018       10/18/2018       11/01/2018
November       11/23/2018       11/21/2018       12/03/2018
                 
                       
Ticker     Fund Name       Month       Amount       Type    

Change
from
Previous
Distribution

TLI Western Asset Corporate Loan Fund Inc. Sep $0.05300 Income -
Oct $0.05300 Income
              Nov       $0.05300       Income      
HIX Western Asset High Income Fund II Inc. Sep $0.04550 Income -
Oct $0.04550 Income
              Nov       $0.04550       Income      
HIO Western Asset High Income Opportunity Fund Inc. Sep $0.02650 Income -
Oct $0.02650 Income
              Nov       $0.02650       Income      
HYI Western Asset High Yield Defined Opportunity Fund Inc. Sep $0.08850 Income -
Oct $0.08850 Income
              Nov       $0.08850       Income      
EHI Western Asset Global High Income Fund Inc. Sep $0.06100 Income -
Oct $0.06100 Income
              Nov       $0.06100       Income      
GDO Western Asset Global Corporate Defined Opportunity Fund Inc. Sep $0.10100 Income -
Oct $0.10100 Income
              Nov       $0.10100       Income      
GFY Western Asset Variable Rate Strategic Fund Inc. Sep $0.07750 Income -
Oct $0.07750 Income
              Nov       $0.07750       Income      
IGI Western Asset Investment Grade Defined Opportunity Trust Inc. Sep $0.08500 Income -
Oct $0.08500 Income
              Nov       $0.08500       Income      
DMO Western Asset Mortgage Defined Opportunity Fund Inc. Sep $0.06260 b Income -
Sep $0.12740 b LTCG
Oct $0.19000 Income
              Nov       $0.19000       Income      
SBI Western Asset Intermediate Muni Fund Inc. Sep $0.02950 Income -
Oct $0.02950 Income
              Nov       $0.02950       Income      
MMU Western Asset Managed Municipals Fund Inc. Sep $0.05800 Income -
Oct $0.05800 Income
              Nov       $0.05800       Income      
MHF Western Asset Municipal High Income Fund Inc. Sep $0.02550 Income -
Oct $0.02550 Income
              Nov       $0.02550       Income      
MNP Western Asset Municipal Partners Fund Inc. Sep $0.05750 Income -
Oct $0.05750 Income
              Nov       $0.05750       Income      
MTT Western Asset Municipal Defined Opportunity Trust Inc. Sep $0.07900 Income -
Oct $0.07900 Income
              Nov       $0.07900       Income      

b $0.06260 per share from income and $0.12740 per share from LTCG – Total Distribution - $0.19000 per share.

LTCG – Long-Term Capital Gain

 

This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the Board of Directors. In early 2019, after definitive information is available, each Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by each Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital).

For more information about the Funds, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com. Hard copies of the Funds’ complete audited financial statement are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Funds.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180820005068/en/

Western Asset Intermediate Muni Fund Inc. Portfolio Composition as of June 30, 2018

NEW YORK--(BUSINESS WIRE)--

Western Asset Intermediate Muni Fund Inc. (SBI) as of June 30, 2018.

Investment Objective: The Fund’s investment objective is to provide common shareholders a high level of current income exempt from regular Federal income taxes consistent with prudent investing.

Portfolio Composition*:

   
 

Asset Allocation

Municipal

99.9%

Variable Rate Demand Notes

0.1%

 

Top Ten Municipal Sectors

Transportation 20.6%
Industrial Revenue 18.5%
Pre refunded / Escrowed to Maturity 12.6%
Power 10.0%
Lease Backed 8.9%
Special Tax Obligation 8.5%
Water & Sewer 6.9%
Health Care 4.4%
Local 2.6%
Education 2.4%
 

Credit Quality Allocation**

AAA 7.4%
AA 34.4%
A 42.4%
BBB 9.3%
BB 2.2%
CCC 0.5%
Not Rated 3.9%
 

Call Statistics

Not Callable 19.1%
2018 4.2%
2019 13.1%
2020 3.8%
2021 7.1%
2022 8.0%
2023 8.6%
2024 10.8%
2025 6.8%
2026 3.6%
2027 8.1%
2028 6.8%
 

Average Life (years)

5.7

Effective Duration (years)

6.5

Average Coupon (%)

5.1

Subject to AMT (%)

16.6
 

Portfolio Statistics:

 

Inception Date

March 2, 1992

Inception Price

$10.00

Total Assets***

$189,266,780

Net Assets

$139,266,780

Preferred Shares****

26.42%
 

Market Price

$8.67

NAV

$9.89
(Daily NAV is available on market quotation systems using the symbol XSBIX.)
 

Distribution Rate

$0.0295 per share

Frequency

Monthly (Declared quarterly, paid monthly)

*     Portfolio holdings and weightings are historical and are presented here for informational purposes only. They are subject to change at any time.
**

Credit quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. The credit ratings shown are based on each portfolio security’s rating as provided by Standard and Poor’s, Moody’s Investors Service and/or Fitch Ratings, Ltd. and typically range from AAA (highest) to D (lowest), or an equivalent and/or similar rating. For this purpose, when two or more of the agencies have assigned differing ratings to a security, the highest rating is used. Securities that are unrated by all three agencies are reflected as such. The credit quality of the investments in the Fund's portfolio does not apply to the stability or safety of the Fund. These ratings are updated monthly and may change over time. Please note, the Fund itself has not been rated by an independent rating agency.

*** The difference between total assets and net assets, if any, is due primarily to the Fund’s use of preferred shares; net assets do not include preferred shares. The Fund may employ leverage in the form of preferred stock and/or other instruments. When the Fund engages in transactions that have a leveraging effect on the Fund’s portfolio, the value of the Fund will be more volatile and all other risks will tend to be compounded.
**** Percentages are based on total assets. If the Fund employs leverage, the Effective Duration is based on net assets.
 

Western Asset Intermediate Muni Fund Inc., a diversified closed-end investment management company, is advised by Legg Mason Partners Fund Advisor, LLC, a wholly owned subsidiary of Legg Mason, Inc., and is sub-advised by Western Asset Management Company, an affiliate of the advisor.

An investment in the Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Fixed income securities are subject to credit risk, inflation risk, call risk, and interest rate risks. As interest rates rise, bond prices fall, reducing the value of the Fund's share price.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Fund.

For more information, please call Fund Investor Services at 1-888-777-0102, or consult the Fund’s web site at http://www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

FN1112221

View source version on businesswire.com: https://www.businesswire.com/news/home/20180802005946/en/

Serabi Gold plc: Award of Share Options

For immediate release

            2 July 2018

Serabi Gold plc
(“Serabi” or the “Company”)
Award of Share Options

The Company announces that on 2 July 2018 the board of directors of Serabi agreed to award in aggregate 1,700,000 new options over ordinary shares to employees, directors and officers of the Company. The option grant is part of the Company's annual compensation review and the issuance is made under the Serabi 2011 Share Option Plan (the “2011 Plan”) which the Company adopted on 28 January 2011 and was re-affirmed by shareholders at the Company’s AGM held on 15 June 2017.  The 2011 Plan allows the Company to issue a number of options up to an aggregate of 10% of its issued and outstanding common shares.

The options granted will vest in three equal tranches, with one-third vesting and being exercisable immediately on award, one-third vesting on the first anniversary of the award and the remainder vesting on the second anniversary of the award and the options will lapse three years after the date of the award.

The options have an exercise price of 75.0 pence per share. The pricing of the options represents a 23 per cent premium to the London closing price as at 29 June 2018 of 61 pence, a 15 per cent premium to the London 10 day weighted average price and a 9 per cent premium to the 20 day weighted average price, both also as of 29 June 2018.  The award represents 2.89% of the current issued share capital of 58,764,072 ordinary shares.

 Options granted to directors of the Company are as follows:

Director Number of new options over Ordinary Shares
Mike Hodgson 400,000
Clive Line 300,000
T Sean Harvey 100,000
Melvyn Williams 125,000
Aquiles Alegria 100,000
Nicolas Banados 100,000
Eduardo Rosselot 100,000
Mark Sawyer 100,000
Felipe Swett 100,000
  1,425,000

The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

1. Mike Hodgson

2. Clive Line

3. Terence Sean Harvey

4. Melvyn Williams

5. Aquiles Alegria

6. Nicolas Banados

7. Eduardo Rosselot

8. Mark Sawyer

9. Felipe Swett

2

Reason for the notification

a)

Position/status

1. Chief Executive Officer

2. Finance Director

3. Non-Executive Director

4. Non-Executive Director

5. Non-Executive Director

6. Non-Executive Director

7. Non-Executive Director

8. Non-Executive Director

9. Non-Executive Director

b)

Initial notification /Amendment

Initial Notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Serabi Gold plc

b)

LEI

213800LTYC1HF9RTUE37

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument
Options over Ordinary Shares of 10p each (“Ordinary Shares”)

Identification code

GB00BG5NDX91

b)

Nature of the transaction

Issue of Options over Ordinary Shares

c)

Price(s) and volume(s)

Director Price payable on exercise of option Volume(s)
Mike Hodgson £ 0.7500 400,000
Clive Line £ 0.7500 300,000
T Sean Harvey £ 0.7500 100,000
Melvyn Williams £ 0.7500 125,000
Aquiles Alegria £ 0.7500 100,000
Nicolas Banados £ 0.7500 100,000
Eduardo Rosselot £ 0.7500 100,000
Mark Sawyer £ 0.7500 100,000
Felipe Swett £ 0.7500 100,000

d)

Aggregated information

- Aggregated volume
1,425,000 options over Ordinary Shares

- Price
Price payable on exercise of option – UK£0.7500
1/3 exercisable immediately on award;
1/3 vesting on the first anniversary of the award; and 1/3 vesting on the second anniversary of the award

e)

Date of the transaction

2 July 2018

f)

Place of the transaction

Outside a trading venue

Enquiries:

Serabi Gold plc  
Michael Hodgson Tel: +44 (0)20 7246 6830
Chief Executive Mobile: +44 (0)7799 473621
   
Clive Line Tel: +44 (0)20 7246 6830
Finance Director Mobile: +44 (0)7710 151692
   
Email: [email protected]  
Website:  www.serabigold.com  
   
Beaumont Cornish Limited
Nominated Adviser and
Financial Adviser
 
Roland Cornish Tel: +44 (0)20 7628 3396
Michael Cornish Tel: +44 (0)20 7628 3396
   
Peel Hunt LLP
UK Broker
 
Ross Allister Tel: +44 (0)20 7418 9000
James Bavister Tel: +44 (0)20 7418 9000
   
Blytheweigh
Public Relations
 
Tim Blythe Tel: +44 (0)20 7138 3204
Camilla Horsfall Tel: +44 (0)20 7138 3224

Copies of this announcement are available from the Company's website at www.serabigold.com.

Neither the Toronto Stock Exchange, nor any other securities regulatory authority, has approved or disapproved of the contents of this announcement.

Qualified Persons Statement
The scientific and technical information contained within this announcement has been reviewed and approved by Michael Hodgson, a Director of the Company. Mr Hodgson is an Economic Geologist by training with over 26 years' experience in the mining industry. He holds a BSc (Hons) Geology, University of London, a MSc Mining Geology, University of Leicester and is a Fellow of the Institute of Materials, Minerals and Mining and a Chartered Engineer of the Engineering Council of UK, recognising him as both a Qualified Person for the purposes of Canadian National Instrument 43-101 and by the AIM Guidance Note on Mining and Oil & Gas Companies dated June 2009.

Forward Looking Statements
Certain statements in this announcement are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ‘‘believe’’, ‘‘could’’, “should” ‘‘envisage’’, ‘‘estimate’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘will’’ or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors’ current expectations and assumptions regarding the Company’s future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors’ current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.

ENDS


Serabi Gold plc - Total Voting Rights

For immediate release

            2 July 2018

Serabi Gold plc
(“Serabi” or the “Company”)
 Total Voting Rights

Serabi Gold plc (AIM:SRB, TSX:SBI), the Brazilian focused gold mining and development company, announces, for the purposes of the Disclosure Guidance and Transparency Rules of the Financial Conduct Authority, the following:

As at the date of this announcement, the Company's issued share capital consists of 58,764,072 Ordinary Shares with a nominal value of 10.0p each, with voting rights. The Company does not hold any Ordinary Shares in Treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights is 58,764,072.

The above figure of 58,764,072 Ordinary Shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

Enquiries:

Serabi Gold plc
Michael Hodgson             Tel: +44 (0)20 7246 6830
Chief Executive                 Mobile: +44 (0)7799 473621
Clive Line                             Tel: +44 (0)20 7246 6830
Finance Director               Mobile: +44 (0)7710 151692
Email: [email protected]
Website:  www.serabigold.com

Beaumont Cornish Limited
Nominated Adviser and Financial Adviser          
Roland Cornish                  Tel: +44 (0)20 7628 3396
Michael Cornish                                Tel: +44 (0)20 7628 3396

Peel Hunt LLP
UK Broker          
Ross Allister                        Tel: +44 (0)20 7418 9000
James Bavister                  Tel: +44 (0)20 7418 9000

Blytheweigh
Public Relations              
Tim Blythe                           Tel: +44 (0)20 7138 3204
Camilla Horsfall                 Tel: +44 (0)20 7138 3224


Legg Mason Partners Fund Advisor, LLC Announces Distributions for the Months of June, July and August 2018

NEW YORK--(BUSINESS WIRE)--

Legg Mason Partners Fund Advisor, LLC announced today that certain closed end funds have declared their distributions for the months of June, July and August 2018.

The following dates apply to the distribution schedule below:

Month       Record Date     Ex-Dividend Date     Payable Date
June       6/22/2018     6/21/2018     7/2/2018
July       7/20/2018     7/19/2018     8/1/2018
August       8/24/2018     8/23/2018     9/4/2018
             
                     
Ticker     Fund Name     Month     Amount         Type    

Change
from
Previous
Distribution

TLI Western Asset Corporate Loan Fund Inc. Jun $0.05300 Income -
Jul $0.05300 Income
            Aug     $0.05300         Income      
HIX Western Asset High Income Fund II Inc. Jun $0.04550 Income -
Jul $0.04550 Income
            Aug     $0.04550         Income      
HIO Western Asset High Income Opportunity Fund Inc. Jun $0.02650 Income -
Jul $0.02650 Income
            Aug     $0.02650         Income      
HYI Western Asset High Yield Defined Opportunity Fund Inc. Jun $0.08850 Income -
Jul $0.08850 Income
            Aug     $0.08850         Income      
EHI Western Asset Global High Income Fund Inc. Jun $0.06100 Income -
Jul $0.06100 Income
            Aug     $0.06100         Income      
GDO Western Asset Global Corporate Defined Opportunity Fund Inc. Jun $0.10100 a Income $(0.0075)
Jul $0.10100 Income
            Aug     $0.10100         Income      
GFY Western Asset Variable Rate Strategic Fund Inc. Jun $0.07750 Income -
Jul $0.07750 Income
            Aug     $0.07750         Income      
IGI Western Asset Investment Grade Defined Opportunity Trust Inc. Jun $0.08500 Income -
Jul $0.08500 Income
            Aug     $0.08500         Income      
DMO Western Asset Mortgage Defined Opportunity Fund Inc. Jun $0.19000 a Income $(0.0150)
Jul $0.19000 Income
            Aug     $0.19000         Income      
SBI Western Asset Intermediate Muni Fund Inc. Jun $0.02950 b Income -
Jul $0.02950 Income
            Aug     $0.02950         Income      
MMU Western Asset Managed Municipals Fund Inc. Jun $0.05800 a Income $(0.0050)
Jul $0.05800 Income
            Aug     $0.05800         Income      
MHF Western Asset Municipal High Income Fund Inc. Jun $0.02550 c Income -
Jul $0.02550 Income
            Aug     $0.02550         Income      
MNP Western Asset Municipal Partners Fund Inc. Jun $0.05750 a, d Income $(0.0050)
Jul $0.05750 Income
            Aug     $0.05750         Income      
MTT Western Asset Municipal Defined Opportunity Trust Inc. Jun $0.07900 a Income $(0.0050)
Jul $0.07900 Income
            Aug     $0.07900         Income      
a  

The Fund has decreased its distributions to a level that better approximates the current level of net investment income generated by its investment portfolio.

b

Included in the June distribution is approximately $0.000022 of taxable ordinary income.

c

Included in the June distribution is approximately $0.000396 of taxable ordinary income.

d

Included in the June distribution is approximately $0.000022 of taxable ordinary income.

 

This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the Board of Directors. In early 2019, after definitive information is available, each Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by each Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital).

For more information about the Funds, please call 1-888-777-0102 or consult the Fund’s web site at www.lmcef.com. Hard copies of the Funds’ complete audited financial statement are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Legg Mason and its affiliates do not engage in selling shares of the Funds.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180514005193/en/

Leave a Reply

Your email address will not be published. Required fields are marked *