Delaware Investments® Dividend and Income Fund, Inc. Announces Results of the Special Shareholder Meeting Relating to the Proposed Reorganization With abrdn Global Dynamic Dividend Fund
30 Novembre 2022 - 10:49PM
Business Wire
Today, Delaware Investments Dividend and Income Fund, Inc. (the
“Acquired Fund”), a New York Stock Exchange-listed closed-end fund
trading under the symbol “DDF”, announced that it held its
adjourned Special Meeting of Shareholders (the “Meeting”) on
November 30, 2022. At the Meeting, shareholders of the Acquired
Fund voted to approve the reorganization of the Acquired Fund into
abrdn Global Dynamic Dividend Fund (the “Acquiring Fund”), a New
York Stock Exchange-listed closed-end fund trading under the symbol
“AGD” (the “Reorganization”).
As of the record date, August 11, 2022, the Acquired Fund had
outstanding 7,611,158.16 shares of common stock. 62.48% of
outstanding common stock were voted representing quorum.
Proposal:
Votes
For
Votes
Against
Votes
Abstained
3,834,389
717,035
203,650
The shareholders of the Acquiring Fund approved the issuance of
shares of the Acquiring Fund in connection with the Reorganization
at a special shareholder meeting held on November 9, 2022. It is
currently expected that the Reorganization will be completed in the
first quarter of 2023 subject to the satisfaction of customary
closing conditions. Further details on the Reorganization date will
be made available in a future press release.
Delaware Management Company, a series of Macquarie Investment
Management Business Trust, is the investment manager of the
Acquired Fund. Aberdeen Asset Managers Limited is the investment
adviser of the Acquiring Fund.
The information in this press release is for informational
purposes only and shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to
buy any securities or the solicitation of any vote or approval in
any jurisdiction pursuant to or in connection with the proposed
transaction or otherwise, nor shall there be any sale, issuance or
transfer of securities in any jurisdiction in contravention of
applicable law. No offer of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the
Securities Act of 1933, as amended.
About the Acquired Fund
The Fund is a diversified closed-end fund. The primary
investment objective is to seek high current income; capital
appreciation is a secondary objective. The Fund seeks to achieve
its objectives by investing, under normal circumstances, at least
65% of its total assets in income-generating equity securities,
including dividend-paying common stocks, convertible securities,
preferred stocks, and other equity-related securities, which may
include up to 25% in real estate investment trusts (REITs) and real
estate industry operating companies. Up to 35% of the Fund's total
assets may be invested in nonconvertible debt securities consisting
primarily of high-yield, high-risk corporate bonds. In addition,
the Fund utilizes leveraging techniques in an attempt to obtain a
higher return for the Fund. There is no assurance that the Fund
will achieve its investment objectives.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims
to deliver positive impact for everyone. Trusted by institutions,
pension funds, governments, and individuals to manage more than
$US508 billion in assets globally,1 we provide access to specialist
investment expertise across a range of capabilities including
infrastructure, green investments & renewables, real estate,
agriculture & natural assets, asset finance, private credit,
equities, fixed income and multi asset solutions.
Advisory services are provided by Delaware Management Company, a
series of Macquarie Investment Management Business Trust, a
registered investment adviser. Macquarie Asset Management is part
of Macquarie Group, a diversified financial group providing clients
with asset management, finance, banking, advisory and risk and
capital solutions across debt, equity, and commodities. Founded in
1969, Macquarie Group employs more than 18,000 people in 33 markets
and is listed on the Australian Securities Exchange. For more
information about Delaware Funds by Macquarie®, visit
delawarefunds.com or call 800 523-1918.
Other than Macquarie Bank Limited ABN 46 008 583 542
(“Macquarie Bank”), any Macquarie Group entity noted in this press
release is not an authorised deposit-taking institution for the
purposes of the Banking Act 1959 (Commonwealth of Australia). The
obligations of these other Macquarie Group entities do not
represent deposits or other liabilities of Macquarie Bank.
Macquarie Bank does not guarantee or otherwise provide assurance in
respect of the obligations of these other Macquarie Group entities.
In addition, if this press release relates to an investment, (a)
the investor is subject to investment risk including possible
delays in repayment and loss of income and principal invested and
(b) none of Macquarie Bank or any other Macquarie Group entity
guarantees any particular rate of return on or the performance of
the investment, nor do they guarantee repayment of capital in
respect of the investment.
1 As of September 30, 2022
© 2022 Macquarie Management Holdings, Inc.
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Investors Computershare 866 437-0252
delawarefunds.com/closed-end
Media contact Lee Lubarsky 347 302-3000
Lee.Lubarsky@macquarie.com
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