MILWAUKEE, Sept. 16, 2024 (GLOBE NEWSWIRE) — High Income Securities Fund Special Meeting Announcement
Important Announcement for Shareholders
High Income Securities Fund (the “Fund”) (NYSE: PCF) has announced 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. The meeting will take place at 250 Pehle Avenue, Suite 708, Saddle Brook, NJ 07663. Shareholders are encouraged to attend as important matters will be discussed.
Proposed Changes and Investment Opportunities
During the special meeting, shareholders will consider two key proposals. The first proposal is for the Fund to enter into an investment advisory agreement with Bulldog Investors, LLP. This agreement aims to enhance the Fund’s investment strategies and fundamental policies, allowing for the expansion of the types of investments the Fund can make and increasing its ability to pursue attractive investment opportunities.
Following the special meeting, the Fund’s Board of Trustees plans to authorize a tender offer for shareholders. If the proposals are adopted, the Fund will offer to purchase at least 90% of the number of shares issued in the recent rights offering. If the proposals are not adopted, the Fund will still offer to purchase 60% of the shares issued in the rights offering at a price of at least 98% of NAV.
Impact on Shareholders
Shareholders are encouraged to carefully consider these proposals and participate in the special meeting. The decisions made during the meeting will have a direct impact on the Fund’s future investment strategies and potential opportunities for growth.
How Will This Affect You?
As a shareholder of High Income Securities Fund, the outcomes of the special meeting and proposed changes to investment strategies could have significant implications for your investments. It is important to stay informed and actively participate in the decision-making process to ensure that your interests are represented.
Global Effects
The changes and proposed strategies of High Income Securities Fund could also have broader implications for the financial market and investment landscape. By expanding the types of investments the Fund can make and increasing its ability to pursue attractive opportunities, the Fund may contribute to overall market trends and developments.
Conclusion
In conclusion, the upcoming special meeting of High Income Securities Fund presents a crucial opportunity for shareholders to have a say in the Fund’s future direction. By considering the proposed changes and participating in the decision-making process, shareholders can actively shape the investment strategies and potential growth of the Fund.
