SUB-ITEM 77M
MERGERS
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST II TO INVESCO MUNICIPAL INCOME
OPPORTUNITIES TRUST
On November 30, 2011, the Board of Trustees of Invesco Municipal Income
Opportunities Trust II (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 Municipal
Income Opportunities Trust II, shareholders approved the Agreement that
provided for the merger of the Target Fund with and into Invesco Municipal
Income Opportunities Trust (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.
INVESCO MUNICIPAL INCOME OPPORTUNITIES TRUST III TO INVESCO MUNICIPAL INCOME
OPPORTUNITIES TRUST
On November 30, 2011, the Board of Trustees of Invesco Municipal Income
Opportunities Trust III (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 Municipal
Income Opportunities Trust III, shareholders approved the Agreement that
provided for the merger of the Target Fund with and into Invesco Municipal
Income Opportunities Trust (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).