SUB-ITEM 77M
MERGERS
INVESCO HIGH YIELD INVESTMENTS FUND, INC. TO INVESCO XXX XXXXXX HIGH INCOME
TRUST II
On November 30, 2011, the Board of Trustees of Invesco High Yield
Investments Fund, Inc. (the "Target Fund") approved an Agreement and Plan of
Merger (the "Agreement"). On August 14, 2012, at a Joint Annual Meeting for
shareholders of common shares of beneficial interest of Invesco High Yield
Investments Fund, Inc., shareholders approved the Agreement that provided for
the merger of the Target Fund with and into Invesco Xxx Xxxxxx High Income
Trust II (the "Acquiring Fund") (the "Merger") pursuant to the Delaware
Statutory Trust Act. Pursuant to the Agreement, on August 27, 2012, the
Acquiring Fund issued new Common Shares. Common Shares of the Target Fund were
exchanged for newly issued Acquiring Fund Common Shares of equal aggregate net
asset value. The Acquiring Fund assumed all of the liabilities of the Target
Fund. Common Shares of the Acquiring Fund owned after the merger will have an
aggregate net asset value equal to the net asset value of the Target Fund
Common Shares held immediately before the Merger. Shareholders of the Target
Fund and Acquiring Fund will recognize no gain or loss for federal income tax
purposes upon the exchange of all shares of the Target Fund for shares in the
Acquiring Fund.
FOR A MORE DETAILED DISCUSSION ON THE MERGER, PLEASE SEE THE AGREEMENT AND PLAN
OF MERGER FILED HEREIN UNDER ITEM 77Q1(g).