http://www.sec.gov/Archives/edgar/data/856119/000085611915000047/n-14proxy_profacvffscvfreorg.htmFRANKLIN ALL CAP VALUE FUND
One Franklin Parkway
San Mateo, CA 94403-1906
NOTICE OF SPECIAL MEETING OF SHAREHOLDERS
To be held on March 11, 2016
To the Shareholders of the Franklin All Cap Value Fund:
NOTICE IS HEREBY GIVEN that a Special Meeting of Shareholders (the “Meeting”) of the Franklin All Cap Value Fund (the “All Cap Value Fund”), a series of the Franklin Value Investors Trust (the “Trust”), will be held at the offices of the All Cap Value Fund’s investment manager, 55 Challenger Road, Ridgefield Park, New Jersey 07660, on March 11, 2016, at 11:00 a.m., Eastern time. The Meeting is being called for the following purposes:
1. To approve a Plan of Reorganization (the “Plan”) between the All Cap Value Fund and the Franklin Small Cap Value Fund (the “Small Cap Value Fund”), another series of the Trust, that provides for: (i) the acquisition of substantially all of the assets of the All Cap Value Fund by the Small Cap Value Fund in exchange solely for shares of the Small Cap Value Fund, (ii) the distribution of such shares to the shareholders of the All Cap Value Fund, and (iii) the complete liquidation and dissolution of the All Cap Value Fund.
2. To transact such other business as may properly come before the Meeting.
A copy of the form of the Plan, which more completely sets forth the terms of the proposed reorganization of the All Cap Value Fund with and into the Small Cap Value Fund, is attached as Exhibit A to the Prospectus/Proxy Statement.
Shareholders of record as of the close of business on December 10, 2015 are entitled to notice of, and to vote at, the Meeting or any adjournment of the Meeting.
By Order of the Board of Trustees,
Steven J. Gray
Secretary
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