Strategic Global Income Fund, Inc. Announces Preliminary Results of Annual Meeting of Shareholders
March 28 2016 - 11:39AM
Business Wire
Strategic Global Income Fund, Inc. (the "Fund") (NYSE:SGL) today
announced the results of its annual meeting of shareholders (the
"Annual Meeting"), subject to a final tabulation and certification
of the votes by the inspectors of election.
On March 28, 2016, the Fund’s shareholders were asked to
consider and vote upon (1) the election of three Class III
directors and (2) a proposal to liquidate and dissolve the Fund
pursuant to a Plan of Liquidation (the “Liquidation Proposal”). The
preliminary results indicate that (1) the proposed election of
directors received the required plurality of the shares voting in
favor and (2) the Liquidation Proposal received greater than the
required vote of a majority of the votes entitled to be cast at the
meeting. Approximately 56% of the Fund’s shares voted “FOR” the
Liquidation Proposal according to the preliminary vote tally.
As a result, the Fund will no longer seek to attain its
investment objective, and will proceed to convert all portfolio
securities of the Fund to cash or cash equivalents and to determine
and pay (or set aside) the amount of all known or reasonably
ascertainable claims and obligations of the Fund pursuant to (and
in order to start implementing) the Plan of Liquidation. The Fund
will separately announce final voting results of the Annual Meeting
by press release along with further information regarding the
upcoming liquidation and dissolution of the Fund after this
information is available, expected within a week or so.
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