[Federal Register Volume 61, Number 131 (Monday, July 8, 1996)]
[Notices]
[Pages 35820-35821]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-17252]
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SECURITIES AND EXCHANGE COMMISSION
[Investment Company Act Release No. 22049; 811-5966]
Oppenheimer Global Environment Fund; Notice of Application
July 1, 1996.
AGENCY: Securities and Exchange Commission (``SEC'').
ACTION: Notice of Application for Deregistration under the Investment
Company Act of 1940 (the ``Act'').
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APPLICANT: Oppenheimer Global Environment Fund.
RELEVANT ACT SECTION: Section 8(f).
SUMMARY OF APPLICATION: Applicant requests an order declaring that it
has ceased to be an investment company.
FILING DATES: The application was filed on February 12, 1996, and
amended on June 24, 1996.
HEARING OR NOTIFICATION OF HEARING: An order granting the application
will be issued unless the SEC orders a hearing. Interested persons may
request a hearing by writing to the SEC's Secretary and serving
applicant with a copy of the request, personally or by mail. Hearing
requests should be received by the SEC by 5:30 p.m. on July 26, 1996
and should be accompanied by proof of service on the applicant, in the
form of an affidavit or, for lawyers, a certificate of service. Hearing
requests should state the nature of the writer's interest, the reason
for the request, and the issues contested. Persons may request
notification of a hearing by writing to the SEC's Secretary.
ADDRESSES: Secretary, SEC, 450 5th Street, N.W., Washington, D.C.
20549. Applicant, Two World Trade Center, New York, New York 10048-
0203.
FOR FURTHER INFORMATION CONTACT:
Sarah A. Buescher, Staff Attorney, at (202) 942-0573, or Robert A.
Robertson, Branch Chief, at (202) 942-0564 (Division of Investment
Management, Office of Investment Company Regulation).
SUPPLEMENTARY INFORMATION: The following is a summary of the
application. The complete application may be obtained for a fee from
the SEC's Public Reference Branch.
Applicant's Representations
1. Applicant is an open-end management investment company organized
as a Massachusetts business trust. On November 22, 1989, applicant
filed a registration statement on Form N-1A pursuant to section 8(b) of
the Act and under the Securities Act of 1933 to register its shares.
The registration statement became effective on March 1, 1990, and the
initial public offering commenced on or about the same date.
2. On June 16, 1994, applicant's board of trustees adopted an
Agreement and Plan of Reorganization (the ``Reorganization Plan'')
whereby applicant would exchange its net assets for shares of
Oppenheimer Global Emerging Growth Fund (``OGEGF''), a registered,
open-end management investment company, and the OGEGF shares would be
distributed pro rata to applicant's shareholders.
3. On August 16, 1994, applicant filed a proxy statement with the
SEC that was declared effective on September 19, 1994. Applicant's
shareholders approved the Reorganization Plan on November 11, 1994.
4. At the close of business on November 17, 1994, immediately
preceding effectiveness of the Reorganization Plan, applicant had
2,815,907.520 shares outstanding. As of that date, applicant's
aggregate net assets were $27,636,863.83, and the net asset value per
share was $9.81. In exchange for 1,540,515.42 shares of OGEGF,
applicant transferred to OGEGF its assets less liabilities with respect
to: (a) amounts payable for portfolio securities purchased but not yet
settled; (b) a cash reserve retained for the payment of the expenses of
applicant's dissolution and its liabilities; (c) deferred trustee
amounts; and (d) capital stock. Pursuant to the Reorganization Plan,
applicant received that number of OGEGF shares having an aggregate net
asset value equal to the value of applicant's net assets.
5. On November 18, 1994, the reorganization was consummated.
Applicant was subsequently liquidated and applicant's shareholders
received pro rata the OGEGF shares received by applicant pursuant to
the reorganization.
[[Page 35821]]
6. The expenses borne by applicant pursuant to the reorganization
totalled $46,775. These expenses included the cost of printing and
mailing proxies and proxy statements, a portion of the cost of the tax
opinion, with the remainder paid by OGEGF, as well as legal,
accounting, and transfer agency expenses. Applicant's share of the
expenses was paid from its cash reserve.
7. As of the date of the filing of the application, applicant has
no assets, and no outstanding debts or liabilities. Applicant has no
shareholders and is not a party to any litigation or administrative
proceeding. Applicant is not presently engaged in, nor does it propose
to engage in, any business activities other than those necessary for
the winding-up of its affairs.
8. Applicant filed a termination of trust with Massachusetts
authorities on June 26, 1995.
For the Commission, by the Division of Investment Management,
pursuant to delegated authority.
Jonathan G. Katz,
Secretary.
[FR Doc. 96-17252 Filed 7-5-96; 8:45 am]
BILLING CODE 8010-01-M
