The European Equity Fund, Inc. Announces Results of Annual Meeting of Stockholders

Rhea-AI Summary

The European Equity Fund, Inc. (NYSE: EEA) held its Annual Meeting of Stockholders on June 23, 2022. During the meeting, all three Class II Directors, Dr. Holger Hatje, Dr. Christopher Pleister, and Ms. Fiona Flannery, were elected for a three-year term. Additionally, Mr. Bernhard Koepp was elected as a Class III Director for one year. Stockholders ratified Ernst & Young LLP as independent auditors for 2022. However, a proposal to declassify the Board of Directors was rejected. For more details about the fund, visit DWS.

Positive

• None.

Negative

• Stockholder proposal to declassify the Board of Directors was not approved.
• Focus on foreign investments increases vulnerability to market volatility and geopolitical risks.

NEW YORK--(BUSINESS WIRE)-- The European Equity Fund, Inc. (NYSE: EEA) (the “Fund”) announced today the results of its Annual Meeting of Stockholders held on June 23, 2022.

Each of the three Class II Directors nominated by the Board of Directors, Dr. Holger Hatje, Dr. Christopher Pleister and Ms. Fiona Flannery, was elected to serve for a term of three years and until his or her respective successor is elected and qualifies; and one Class III Director, Mr. Bernhard Koepp, was elected to serve a term of one year and until his successor is elected and qualifies. Stockholders also ratified the appointment of Ernst & Young LLP as the independent auditors for the Fund for its 2022 fiscal year. Stockholders did not approve the stockholder proposal requesting the Fund to take the steps necessary to declassify the Board of Directors.

A copy of the portfolio manager’s presentation from the meeting is posted to the Fund’s website at www.dws.com.

For more information on the Fund, including its most recent month-end performance, visit dws.com or call (800) 349-4281.

Important Information

The European Equity Fund, Inc. is diversified and primarily focuses its investments in equity securities of issuers domiciled in Europe, thereby increasing its vulnerability to developments in that region. Investing in foreign securities, particularly of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Any fund that concentrates in a particular segment of the market or a particular geographical region will generally be more volatile than a fund that invests more broadly.

Investing in foreign securities, particularly those of emerging markets, presents certain risks, such as currency fluctuations, political and economic changes, and market risks. Any fund that concentrates in a particular segment of the market will generally be more volatile than a fund that invests more broadly.

The shares of most closed-end funds, including the Fund, 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.

Investments in funds involve risk. Additional risks of the Fund are associated with international investing, such as currency fluctuations, political and economic changes, market risks, government regulations and differences in liquidity, which may increase the volatility of your investment. Foreign security markets generally exhibit greater price volatility and are less liquid than the US market. Additionally, the Fund focuses its investments in certain geographical regions, thereby increasing its vulnerability to developments in that region and potentially subjecting the Fund’s shares to greater price volatility. Some funds have more risk than others. These include funds, such as the Fund, that allow exposure to or otherwise concentrate investments in certain sectors, geographic regions, security types, market capitalization, or foreign securities (e.g., political or economic instability, which can be accentuated in emerging market countries).

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 fund and its investments.

The European Union, the United States and other countries have imposed sanctions on Russia in response to Russian military and other actions in recent years. These sanctions have adversely affected Russian individuals, issuers and the Russian economy. Russia, in turn, has imposed sanctions targeting Western individuals, businesses and products. The various sanctions have adversely affected, and may continue to adversely affect, not only the Russian economy, but also the economies of many countries in Europe, including countries in Central and Eastern Europe. The continuation of current sanctions or the imposition of additional sanctions may materially adversely affect the value of the Fund’s portfolio.

Past performance is no guarantee of future results.

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.

NOT FDIC/ NCUA INSURED • MAY LOSE VALUE • NO BANK GUARANTEE 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 DWS Distributors, Inc. which offers investment products or DWS Investment Management Americas, Inc. and RREEF America L.L.C. which offer advisory services. (R-090642-01 ) (06/22)

View source version on businesswire.com: https://www.businesswire.com/news/home/20220623005887/en/

For additional information:

DWS Press Office (212) 454-4500

Shareholder Account Information (800) 294-4366

DWS Closed-End Funds (800) 349-4281

Source: The European Equity Fund, Inc.

FAQ

What were the results of the European Equity Fund's Annual Meeting held on June 23, 2022?

All three Class II Directors nominated were elected for three-year terms, while one Class III Director was elected for one year. The proposal to declassify the Board was not approved.

Who were the elected directors at the European Equity Fund's Annual Meeting?

The elected Class II Directors are Dr. Holger Hatje, Dr. Christopher Pleister, and Ms. Fiona Flannery. Mr. Bernhard Koepp was elected as the Class III Director.

Which auditing firm was ratified by the European Equity Fund's stockholders for 2022?

Stockholders ratified Ernst & Young LLP as the independent auditors for the 2022 fiscal year.

How does the European Equity Fund's focus on Europe impact its investment risk?

The Fund's focus on European equity securities increases its vulnerability to geopolitical events, currency fluctuations, and economic changes.

What should investors know about the European Equity Fund's stock performance?

Investors should be aware that shares of closed-end funds, including EEA, may trade at a discount to net asset value and can be subject to significant market volatility.