NexPoint Credit Strategies Fund (NYSE: NHF) (“NHF”) today announced that
it will hold a special meeting of shareholders at 8:00 a.m. Central Time
on Friday, February 27, 2015, at its offices at 300 Crescent Court,
Suite 700, Dallas, Texas 75201. Proxy materials relating to the special
meeting will be mailed to shareholders of record as of February 2, 2015.
Shareholders will be asked to approve a new investment advisory
agreement to be entered into by NHF’s subsidiary NexPoint Residential
Trust, Inc. (“NXRT”) in connection with NHF’s proposed spin-off of NXRT.
NHF expects the spin-off to be completed by the end of the first quarter
of 2015.
About NexPoint Credit Strategies Fund
NHF is a closed-end fund managed by NexPoint Advisors, L.P. NHF’s
investment objectives are to provide both current income and capital
appreciation. NHF is invested primarily in below investment grade debt
and equity securities and has the ability to hedge risk. The manager
attempts to exceed the return of the Dow Jones Credit Suisse Hedge Fund
Index in a transparent, registered fund format with monthly dividends.
No assurance can be given that NHF will achieve its investment
objectives.
Shares of closed-end investment companies frequently trade at a discount
to net asset value. The price of NHF’s shares is determined by a number
of factors, several of which are beyond the control of NHF. Therefore,
NHF cannot predict whether its shares will trade at, below or above net
asset value. Past performance does not guarantee future results. More
information about NHF is available at http://www.nexpointadvisors.com.
Cautionary Notice Regarding Forward-Looking Statements
This press release contains forward-looking statements that are based on
management's current expectations, assumptions and beliefs about the
special meeting and the spin-off. Forward-looking statements can often
be identified by words such as "expects," "will," similar expressions,
and variations or negatives of these words. These forward-looking
statements include, but are not limited to, statements regarding the
anticipated timing of the spin-off and the date of the special meeting
of the shareholders. They are not guarantees of future results and are
subject to risks, uncertainties and assumptions that could cause actual
results to differ materially from those expressed in any forward-looking
statement.
The spin-off is contingent upon the satisfaction of a number of
conditions, including the receipt of an order for exemptive relief from
the Securities and Exchange Commission (the “SEC”), an application for
which has been filed, the effectiveness of the Form 10 that has been
filed with the SEC and final approval of NHF’s Board of Trustees.
Additional risks and uncertainties related to the proposed spin-off
include NHF’s and NXRT’s ability to obtain all necessary consents and
approvals and satisfy all other conditions to the spin-off. Readers
should not place undue reliance on any forward-looking statements and
are encouraged to review NXRT’s Form 10 registration statement,
including its preliminary information statement, filed with the SEC, and
NHF’s proxy statement, to be mailed to shareholders in connection with
the special meeting, for a more complete discussion of the risks and
other factors that could affect any forward-looking statements. Except
as required by the federal securities laws, NHF does not undertake any
obligation to publicly update or revise any forward-looking statements,
whether as a result of new information, future events, changing
circumstances or any other reason after the date of this press release.
Copyright Business Wire 2015