SRH Total Return Fund, Inc. — Director's Dealing 2015

May 5, 2015

SEC Form 4/A — Form 4/A

Issuer: BOULDER GROWTH & INCOME FUND (BIF)
CIK: 0000102426
Period of Report: 2015-03-20

Reporting Person: NORGAARD STEVEN K (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-03-20	Common Stock	A	1560	—	Acquired	2560	Direct
2015-03-20	Common Stock	A	1219	—	Acquired	3779	Direct

Footnotes

F1: On March 20, 2015, Boulder Total Return Fund, Inc. ("BTF"), The Denali Fund Inc. ("DNY") and First Opportunity Fund, Inc. ("FOFI") reorganized into Boulder Growth & Income Fund, Inc. ("BIF") (the "Reorganization") pursuant to that certain Agreement and Plan of Reorganization, dated as of March 5, 2015 (the "Agreement"). Pursuant to the Agreement, BIF acquired all of the assets and liabilities of BTF, DNY and FOFI in exchange for common shares of BIF (the "BIF Shares").

F2: The Reorganization occurred based on the relative net asset values ("NAV") of BIF, BTF, DNY and FOFI as of the close of regular trading on the New York Stock Exchange on March 20, 2015. At such time, BIF reported net assets of $273,608,352.67 and a NAV per share of $10.73; BTF reported net assets of $413,286,769.95 and a NAV per share of $33.50; and DNY reported net assets of $108,819,429.37 and a NAV per share of $26.18. Holders of BTF shares received 3.121182 BIF Shares for each BTF share owned and holders of DNY shares received 2.439214 BIF Shares for each DNY share owned. Fractional shares were paid in cash.

F3: In connection with the Reorganization, Mr. Norgaard received 1,560 BIF Shares (and cash for fractional shares, if any) for his 500 shares of BTF.

F4: In connection with the Reorganization, Mr. Norgaard received 1,219 BIF Shares (and cash for fractional shares, if any) for his 500 shares of DNY.