KYN Announces Adjournment of Special Meeting of Stockholders

Rhea-AI Summary

Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) has announced the adjournment of its Special Meeting of Stockholders to October 29, 2020. The meeting will be conducted virtually, where stockholders will vote on amendments to the company's investment objective and concentration policy, allowing greater flexibility to invest in renewable infrastructure. Those eligible to vote must have been stockholders as of August 18, 2020. Details on voting options are provided, and additional information is available on their website.

Positive

• Proposed amendments to broaden investment flexibility towards renewable infrastructure.
• Virtual meeting format allows for easier participation.

Negative

• Adjournment of the meeting could indicate delays in strategic decision-making.

HOUSTON, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) (the “Company”) announced today that the virtual Special Meeting of Stockholders has been adjourned to October 29, 2020 at 8:00 a.m. Central Time and will be held in a virtual meeting format only. Stockholders will not be able to attend the meeting in person.

Stockholders are being asked to (i) approve an amendment to KYN’s investment objective, which is a fundamental investment policy of the Company, (ii) approve an amendment to the Company’s fundamental investment policy with respect to industry concentration. The Company recently announced that it is expanding its focus area within energy infrastructure to include portfolio allocations to renewable infrastructure and utilities. Management and the Board of Directors of the Company believe the proposed amendments are needed to give KYN sufficient flexibility to invest across the full spectrum of North American energy infrastructure.

Stockholders of record at the close of business on August 18, 2020, are entitled to vote at the meeting. Whether or not you plan to attend the virtual special meeting, it is important that your shares be represented and voted at the special meeting. Stockholders may vote their shares via the internet, by telephone (for internet and telephone voting please follow the instructions on the proxy ballot), or by completing and returning the proxy ballot in the postage-paid envelope included in the mailed proxy package. Your proxy ballot must be returned promptly in order to avoid the additional expense of further solicitation.

The proxy statement and additional information regarding KYN’s recent announcements related to the proposals can be found at https://kaynefunds.com/proxyinformation/.

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company registered under the Investment Company Act of 1940, as amended, whose common stock is traded on the NYSE. The company's investment objective is to obtain a high after-tax total return by investing at least 85% of its total assets in energy-related partnerships and their affiliates ("MLPs"), and in other companies that, as their principal business, operate assets used in the gathering, transporting, processing, storing, refining, distributing, mining or marketing of natural gas, natural gas liquids, crude oil, refined petroleum products or coal (collectively with midstream MLPs, "Midstream Energy Companies").

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of any securities in any jurisdiction in which such offer or sale is not permitted. Nothing contained in this press release is intended to recommend any investment policy or investment strategy or take into account the specific objectives or circumstances of any investor. Please consult with your investment, tax, or legal adviser regarding your individual circumstances prior to investing.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This communication contains statements reflecting assumptions, expectations, projections, intentions, or beliefs about future events. These and other statements not relating strictly to historical or current facts constitute forward-looking statements as defined under the U.S. federal securities laws. Forward-looking statements involve a variety of risks and uncertainties. These risks include, but are not limited to, changes in economic and political conditions; regulatory and legal changes; energy industry risk; leverage risk; valuation risk; interest rate risk; tax risk; and other risks discussed in detail in the fund’s filings with the SEC, available at www.kaynefunds.com or www.sec.gov. Actual events could differ materially from these statements or from our present expectations or projections. You should not place undue reliance on these forward-looking statements, which speak only as of the date they are made. Kayne Anderson undertakes no obligation to publicly update or revise any forward-looking statements made herein. There is no assurance that the fund’s investment objectives will be attained.

Contact: Investor Relations at (877) 657-3863 or cef@kaynecapital.com

FAQ

What is the date of the KYN Special Meeting of Stockholders?

The KYN Special Meeting of Stockholders is rescheduled for October 29, 2020.

What amendments are proposed at the KYN Special Meeting?

The proposed amendments include changes to KYN's investment objective and industry concentration policy.

Who is eligible to vote at the KYN Special Meeting?

Stockholders of record as of August 18, 2020, are eligible to vote.

How can KYN stockholders vote at the Special Meeting?

Stockholders can vote online, by telephone, or by returning a proxy ballot.