High Income Securities Fund Announces Special Meeting
High Income Securities Fund (NYSE: PCF) has announced a special meeting of shareholders on October 18, 2024, to consider entering into an investment advisory agreement with Bulldog Investors, LLP and changes to the Fund's investment strategies and fundamental policies. The meeting aims to expand the Fund's investment types and increase its ability to pursue attractive opportunities. Following the meeting, the Board plans to authorize a tender offer to purchase at least 90% of shares issued in the recent rights offering if proposals are adopted, or 60% if not, at a minimum of 98% of NAV. Only shareholders of record as of August 23, 2024, are eligible to vote. The Board urges prompt proxy voting to minimize costs.
Il High Income Securities Fund (NYSE: PCF) ha annunciato una riunione speciale degli azionisti per il 18 ottobre 2024, per discutere l'entrata in un accordo di consulenza sugli investimenti con Bulldog Investors, LLP e modifiche alle strategie di investimento e alle politiche fondamentali del Fondo. L'incontro mira ad ampliare i tipi di investimento del Fondo e aumentare la sua capacità di perseguire opportunità attraenti. Dopo la riunione, il Consiglio prevede di autorizzare un offerta di acquisto per acquistare almeno il 90% delle azioni emesse nella recente offerta di diritti, se le proposte verranno adottate, o il 60% in caso contrario, a un valore minimo del 98% del NAV. Solo gli azionisti registrati entro il 23 agosto 2024 sono idonei a votare. Il Consiglio esorta a votare prontamente tramite delega per ridurre i costi.
El Fondo de Valores de Alto Ingreso (NYSE: PCF) ha anunciado una reunión especial de accionistas para el 18 de octubre de 2024, para considerar la celebración de un acuerdo de asesoría de inversión con Bulldog Investors, LLP y cambios en las estrategias de inversión y las políticas fundamentales del Fondo. La reunión tiene como objetivo ampliar los tipos de inversión del Fondo y aumentar su capacidad para perseguir oportunidades atractivas. Tras la reunión, la Junta planea autorizar una oferta de compra para adquirir al menos el 90% de las acciones emitidas en la reciente oferta de derechos si se adoptan las propuestas, o el 60% en caso contrario, a un mínimo del 98% del NAV. Solo los accionistas registrados a partir del 23 de agosto de 2024 son elegibles para votar. La Junta insta a votar pronto por poder para minimizar costos.
하이 인컴 증권 펀드(NYSE: PCF)는 2024년 10월 18일에 주주 특별 회의를 열어 불독 투자 LLP와의 투자 자문 계약 체결 및 펀드의 투자 전략 및 기본 정책 변경을 논의한다고 발표했습니다. 이 회의의 목적은 펀드의 투자 유형을 확대하고 매력적인 기회를 추구할 수 있는 능력을 증가시키는 것입니다. 회의 후, 이사회는 제안이 채택될 경우 최근 권리 공모에서 발행된 주식의 최소 90%를 매수하는 청약을 승인할 계획이며, 그렇지 않은 경우에는 60%를 매수하며, 최소 NAV의 98%로 진행됩니다. 2024년 8월 23일 기준으로 기록된 주주만이 투표할 수 있습니다. 이사회는 비용을 최소화하기 위해 신속한 위임 투표를 촉구합니다.
Le Fonds de Titres à Haut Revenu (NYSE: PCF) a annoncé une assemblée spéciale des actionnaires le 18 octobre 2024, afin d'examiner la conclusion d'un contrat de conseil en investissement avec Bulldog Investors, LLP et des modifications aux stratégies d'investissement et aux politiques fondamentales du Fonds. Cette réunion vise à élargir les types d'investissement du Fonds et à augmenter sa capacité à saisir des opportunités attractives. À l'issue de la réunion, le Conseil prévoit d'autoriser une offre d'achat pour acquérir au moins 90 % des actions émises lors de l'offre de droits récente si les propositions sont adoptées, ou 60 % sinon, à un minimum de 98 % de la valeur liquidative (NAV). Seuls les actionnaires enregistrés au 23 août 2024 sont éligibles pour voter. Le Conseil exhorte à un vote par procuration rapide afin de minimiser les coûts.
Der High Income Securities Fund (NYSE: PCF) hat eine außerordentliche Hauptversammlung der Aktionäre für den 18. Oktober 2024 angekündigt, um einen Anlageberatungsvertrag mit Bulldog Investors, LLP und Änderungen an den Anlagestrategien und grundlegenden Richtlinien des Fonds zu prüfen. Das Ziel der Sitzung ist es, die Anlagemöglichkeiten des Fonds zu erweitern und seine Fähigkeit zur Verfolgung attraktiver Chancen zu erhöhen. Nach der Sitzung plant der Vorstand, ein Übernahmeangebot zu genehmigen, um mindestens 90% der im Rahmen des kürzlich durchgeführten Bezugsangebots ausgegebenen Aktien zu erwerben, falls die Vorschläge angenommen werden, oder 60%, falls nicht, zu einem Minimum von 98% des NAV. Nur Aktionäre, die am 23. August 2024 als registriert gelten, sind berechtigt zu wählen. Der Vorstand fordert zu einer schnellen Stimmabgabe durch Vollmacht auf, um die Kosten zu minimieren.
- Potential for expanded investment opportunities and strategies
- Planned tender offer to repurchase shares at near NAV
- Shareholder involvement in key decision-making processes
- Potential changes to fundamental investment policies may alter fund risk profile
- Costs associated with holding special meeting and proxy solicitation
MILWAUKEE, Sept. 16, 2024 (GLOBE NEWSWIRE) -- High Income Securities Fund (the “Fund”) (NYSE: PCF) announced today that a special meeting of shareholders will be held on Friday, October 18, 2024 at 10:30 am at the office of Bulldog Investors, LLP, 250 Pehle Avenue, Suite 708, Saddle Brook, NJ 07663 to consider, among other things, (1) the Fund entering into an investment advisory agreement with Bulldog Investors, LLP, and (2) changes to the Fund’s investment strategies and fundamental policies in order to expand the types of investments the Fund can make and to increase the Fund’s ability to pursue attractive investment opportunities. Shortly after the special meeting is held, the Fund’s Board of Trustees intends to authorize a tender offer by the Fund to purchase at least (a)
Only shareholders of record as of Friday, August 23, 2024 will be entitled to vote at the special meeting. The Board urges shareholders that do not plan to attend the meeting to promptly vote by proxy in order to minimize the cost to the Fund of soliciting additional proxies in the event a quorum is not reached and the meeting is adjourned.
The full details of the proposals to be considered at the special meeting are included in the Definitive Proxy Statement, which was filed by the Fund with the SEC on September 13, 2024 and is available at www.sec.gov. Shareholders should carefully read the Definitive Proxy Statement because it contains important information about the special meeting and the proposals.
The foregoing does not constitute a tender offer or an offer to purchase any shares of the Fund. Any such offer will be made pursuant to separate tender offer materials complying with the requirements of Section 13(e) of the Securities Exchange Act of 1934, as amended and Rule 13e-4 thereunder.
For more information, please call InvestorCom, the Fund’s information agent, at (877) 972-0090.
FAQ
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