The Central and Eastern Europe Fund, Inc., The European Equity Fund, Inc., and The New Germany Fund, Inc. Announce Extension of Share Repurchases
The Central and Eastern Europe Fund (NYSE: CEE), The European Equity Fund (NYSE: EEA), and The New Germany Fund (NYSE: GF) have announced an extension of their share repurchase authorization. Each Fund can buy back up to 10% of its outstanding shares during the period from August 1, 2022, to July 31, 2023. Specific repurchase amounts include 622,066 for CEE, 708,104 for EEA, and 1,756,928 for GF. Repurchases will occur when deemed beneficial for each Fund, and no buybacks will happen if shares are trading at a premium to net asset value.
- Repurchase authorization allows CEE, EEA, and GF to buy back shares, potentially enhancing shareholder value.
- The buyback could positively impact EPS for each Fund.
- CEE shares are currently trading at a premium to net asset value, limiting buyback opportunities.
- Macroeconomic uncertainties like the geopolitical situation in Ukraine may adversely affect Fund performance.
In addition, each Fund announced that its Board continues to reserve its discretion to determine if it would be appropriate to initiate a tender offer during the twelve-month period from
For more information on each Fund, including the most recent month-end performance, visit www.dwsfunds.com or call (800) 349-4281.
Important Information
Closed-end funds, unlike open-end funds, are not continuously offered. There is a one-time public offering and once issued, shares of closed-end funds are sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, the fund cannot predict whether its shares will trade at, below or above net asset value.
The
The shares of most closed-end funds, including the Funds, are not continuously offered. Once issued, shares of closed-end funds are bought and sold in the open market through a stock exchange. Shares of closed-end funds frequently trade at a discount to net asset value. The price of a fund’s shares is determined by a number of factors, several of which are beyond the control of the fund. Therefore, a fund cannot predict whether its shares will trade at, below, or above net asset value.
War, terrorism, sanctions, economic uncertainty, trade disputes, public health crises and related geopolitical events have led, and, in the future, may lead to significant disruptions in US and world economies and markets, which may lead to increased market volatility and may have significant adverse effects on the Funds and their investments. In the case of The
The
This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Certain statements contained in this release may be forward-looking in nature. These include all statements relating to plans, expectations, and other statements that are not historical facts and typically use words like “expect,” “anticipate,” “believe,” “intend,” and similar expressions. Such statements represent management’s current beliefs, based upon information available at the time the statements are made, with regard to the matters addressed. All forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in, or implied by, such statements. Management does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. The following factors, among others, could cause actual results to differ materially from forward-looking statements: (i) the effects of adverse changes in market and economic conditions; (ii) legal and regulatory developments; and (iii) other additional risks and uncertainties, including public health crises (including the recent pandemic spread of the novel coronavirus), war, terrorism, trade disputes and related geopolitical events.
Past performance is no guarantee of future results.
NOT |
NOT A DEPOSIT • NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY |
The brand DWS represents DWS Group GmbH & Co. KGaA and any of its subsidiaries such as
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For additional information:
DWS Press Office (212) 454-4500
Shareholder Account Information (800) 294-4366
Deutsche Closed-End Funds (800) 349-4281
Source: DWS
FAQ
What is the repurchase authorization amount for CEE, EEA, and GF?
When is the repurchase period for the Funds?
Under what conditions will the Funds repurchase shares?
How might the share buyback affect stock prices for CEE, EEA, and GF?