ClearBridge Energy Midstream Opportunity Fund Inc. Announces Voting Results of 2023 Annual Meeting of Stockholders

Rhea-AI Summary

ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) has announced preliminary voting results from its 2023 Annual Meeting of Stockholders. Preferred stockholders voted to re-elect director Eileen A. Kamerick. However, neither nominee for the common and preferred stock received majority support, allowing incumbent Robert D. Agdern to retain his board position. Stockholders also ratified PricewaterhouseCoopers LLP as the independent public accountants for the fiscal year ending November 30, 2023. The board expressed gratitude for stockholder participation and emphasized its commitment to enhancing stockholder value and cash distributions, aiming for high total returns. Final voting results will be reported in the upcoming stockholder report filed with the SEC.

Positive

• Eileen A. Kamerick re-elected as director, indicating stability in leadership.
• Majority support retained for incumbent Robert D. Agdern, suggesting continuity in strategy.
• Ratification of PricewaterhouseCoopers LLP as independent accountants enhances credibility.

Negative

• Neither candidate for the common and preferred stock received majority votes, hinting at potential stockholder dissatisfaction.

NEW YORK--(BUSINESS WIRE)-- ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) (the “Fund”) today announced that, based on preliminary voting results from the Fund’s 2023 Annual Meeting of Stockholders (the “Annual Meeting”), holders of shares of the Fund’s preferred stock voted to re-elect the Fund’s nominee and existing director, Eileen A. Kamerick.

The Fund also announced that neither director candidate nominated for election by holders of shares of the Fund’s common and preferred stock, voting together as a single class, received the majority of votes entitled to be cast. As a result, the Fund’s incumbent director nominee, Robert D. Agdern, will continue to serve on the Fund’s Board of Directors (the “Board”).

The Fund issued the following statement:

The ClearBridge Energy Midstream Opportunity Fund Inc.’s Board and management team thank our stockholders for their participation in this process. The Board is committed to acting in the best interests of all stockholders and advancing the Fund’s investment objective to deliver high total returns with an emphasis on cash distributions. We will continue to take decisive action to build on our strong track record of enhancing stockholder value.

The preliminary results also confirm that stockholders have voted to ratify the selection of PricewaterhouseCoopers LLP as independent registered public accountants of the Fund for the fiscal year ending November 30, 2023.

The final voting results certified by First Coast Results Inc., the independent Inspector of Election, will be disclosed in the Fund’s next stockholder report filed with the U.S. Securities and Exchange Commission.

ClearBridge Energy Midstream Opportunity Fund Inc. is a non-diversified, closed-end management investment company, which is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and subadvised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Form N-PORT or a semi-annual or annual report from the Fund, stockholders can call 1-888-777-0102.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s website at www.franklintempleton.com/investments/options/closed-end-funds. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230414005407/en/

Investor Contact:

Fund Investor Services 1-888-777-0102



Media Contact:

Joele Frank, Wilkinson Brimmer Katcher

Dan Katcher / Mahmoud Siddig / Lucas Pers

212-355-4449

Source: Franklin Resources, Inc.

FAQ

What were the results of ClearBridge Energy Midstream Opportunity Fund's 2023 Annual Meeting?

Preferred stockholders re-elected Eileen A. Kamerick, while Robert D. Agdern retained his position due to lack of majority support for other candidates.

Who was re-elected as a director in the 2023 Annual Meeting of ClearBridge Energy Midstream Opportunity Fund?

Eileen A. Kamerick was re-elected as a director.

What accounting firm was ratified by ClearBridge Energy Midstream Opportunity Fund for the fiscal year 2023?

PricewaterhouseCoopers LLP was ratified as the independent public accountants for the fiscal year ending November 30, 2023.

What does the board of ClearBridge Energy Midstream Opportunity Fund emphasize after the annual meeting?

The board emphasized its commitment to enhancing stockholder value and cash distributions.

When will the final voting results of the Annual Meeting for ClearBridge Energy Midstream Opportunity Fund be disclosed?

Final voting results will be disclosed in the upcoming stockholder report filed with the SEC.