Delaware Investments Global Dividend & Income Fund, Inc. & Delaware Enhanced Global Dividend & Income Fund Announce Approval ...
September 21 2011 - 5:22PM
Business Wire
The Board of Directors of Delaware Investments Global Dividend
and Income Fund, Inc. (NYSE: DGF) (“DGF”) and the Board of Trustees
of Delaware Enhanced Global Dividend and Income Fund (NYSE: DEX)
(“DEX”) today announced the final results of voting at the Joint
Special Meeting of Shareholders (the “Special Meeting”) held on
September 21, 2011. Shareholders of each Fund approved an Agreement
and Plan of Reorganization (the “Plan of Reorganization”) providing
for (i) the acquisition by DEX of substantially all of the assets
and certain of the liabilities of DGF, in exchange for newly issued
common shares of DEX; (ii) the distribution of such newly issued
common shares of DEX to holders of common shares of DGF; and (iii)
the dissolution of DGF thereafter. Common shares of DGF would be
exchanged for common shares of DEX on a pro rata basis based on the
relative net asset values of each Fund’s common shares. This
transaction, which is expected to be tax-free, is currently
anticipated to close at the close of business on October 21,
2011.
In connection with this transaction, shareholders of DGF holding
share certificates must send in such certificates before becoming
eligible to receive distributions as DEX shareholders. DGF
shareholders will be mailed specific instructions on how to send in
their certificates. The Fund’s transfer agent, BNY Mellon
Shareowner Services, can assist DGF shareholders in this process.
DGF shareholders can contact BNY Mellon Shareowner Services by
calling 800-851-9677.
DGF may also make a final distribution of any of its
undistributed ordinary income and undistributed capital gain net
income earned and anticipated to be earned through close of
business on the reorganization date. Currently, DGF is not
anticipated to have any income or capital gains to distribute after
the Fund makes its regularly scheduled monthly distribution. DGF
will issue a press release prior to October 21, 2011 stating the
exact amount, the record date, and the payable date of the monthly
distribution and, if necessary, any final distribution. In early
2012, shareholders of DGF will receive a Form 1099-DIV for the
calendar year 2011 that will tell them how to report these
distributions for federal income tax purposes.
Each Fund is a closed-end fund managed by Delaware Management
Company, a series of Delaware Management Business Trust. The
investment objective of DGF is to provide high current income. The
investment objective of DEX is to provide current income. Each Fund
has the ability to utilize leveraging techniques in an attempt to
obtain a higher return for the Fund. At present, each Fund utilizes
a line of credit issued by The Bank of New York Mellon, which DEX
is expected to continue utilizing following the reorganization. As
of August 31, 2011, the total net assets of DGF and DEX were
approximately $32.7 million and $156.3 million, respectively.
In connection with the Plan of Reorganization, each Fund has
filed relevant materials with the U.S. Securities and Exchange
Commission, including a combined proxy statement for each Fund and
a Form N-14 registration statement for DEX that contains a
prospectus. The foregoing is not an offer to sell, nor a
solicitation of an offer to buy, shares of any fund.
About Delaware Investments
Delaware Investments, a member of Macquarie Group, is a
U.S.-based diversified asset management firm with more than $155
billion in assets under management (as of June 30, 2011). Through a
team of talented investment professionals, the firm manages assets
across all major asset classes for a wide range of institutional
and individual investors. Delaware Investments is supported by the
resources of Macquarie Group (ASX: MQG; ADR: MQBKY), a global
provider of asset management, investment, banking, financial and
advisory services with approximately US $321 billion in assets
under management as of March 31, 2011.
Delaware Investments is the marketing name for Delaware
Management Holdings, Inc. and its subsidiaries. Macquarie Group
refers to Macquarie Group Limited and its subsidiaries and
affiliates worldwide. For more information about Delaware
Investments, visit www.delawareinvestments.com or call 800
523-1918.
Investments in the Funds are not and will not be deposits with
or liabilities of Macquarie Bank Limited ABN 46 008 583 542 and its
holding companies, including their subsidiaries or related
companies, and are subject to investment risk, including possible
delays in repayment and loss of income and capital invested. No
Macquarie Group company guarantees or will guarantee the
performance of the Funds, the repayment of capital from the Funds,
or any particular rate of return.
© 2011 Delaware Management Holdings, Inc.
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