Advent/Claymore Enhanced Growth & Income Fund Announces Final Results Of Tender Offer

NEW YORK, July 17, 2017 (GLOBE NEWSWIRE) -- Advent/Claymore Enhanced Growth & Income Fund (NYSE:LCM) (the “Fund”) announced today the final results for its tender offer for up to 4,420,984 common shares (“Shares”) of the Fund (approximately 32.5% of the outstanding Shares) (the “Tender Offer”). The Tender Offer commenced on June 12, 2017 and expired on July 11, 2017.

A total of 7,334,932 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeds 4,420,984 Shares, the Tender Offer has been oversubscribed. Therefore, in accordance with the terms and conditions specified in the Tender Offer, the Fund will purchase Shares from all tendering shareholders on a pro rata basis, disregarding fractions. Accordingly, on a pro rata basis, approximately 60% of Shares for each shareholder who properly tendered Shares have been accepted for payment. The Fund expects to transmit payment to purchase the duly tendered and accepted Shares on or about July 17, 2017. The purchase price of properly tendered Shares is $9.1532 per Share, equal to 98% of the net asset value per Share as of July 12, 2017 (the business day immediately following the expiration date of the Tender Offer). Shares that were tendered but not accepted for purchase and Shares that were not tendered will remain outstanding.

Questions regarding the Tender Offer may be directed to Georgeson, Inc., the information agent for the tender offer, at (888) 206-0860.

Additional Information

About Advent Capital Management
Advent Capital Management, LLC (“Advent”) is a registered investment advisor dedicated to providing its clients with superior investment performance. Advent invests primarily in convertible, high yield and equity securities offered through long only, hedge-fund and NYSE-listed closed-end fund products. Advent’s investment team consists of seasoned professionals performing bottom-up fundamental research. Since inception in 1995, Advent has grown into a $9 billion diversified investment management firm (as of March 31, 2017) with the ability to capture opportunities globally. Advent’s growing client base includes some of the world’s largest public and corporate pension plans, foundations, endowments, insurance companies and high net worth individuals. Advent is not affiliated with Guggenheim.

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