Closed-End Funds Advised by Legg Mason Partners Fund Advisor, LLC Announce Election To Opt In to Maryland Control Share Acquisition Act
(each, a “Fund” and together, the “Funds”)
The MCSAA protects the interests of all stockholders of a
Application of the MCSAA seeks to limit the ability of an acquiring person to achieve a short-term gain at the expense of a Fund’s ability to pursue its investment objective and policies and seek long-term value for the rest of the Fund’s stockholders.
The above description of the MCSAA is only a high-level summary and does not purport to be complete. Investors should refer to the actual provisions of the MCSAA and each Fund’s bylaws for more information, including definitions of key terms, various exclusions and exemptions from the statute’s scope, and the procedures by which stockholders may approve the reinstatement of voting rights to holders of “control shares.”
An investment in a Fund involves risk, including loss of principal. Investment return and the value of shares will fluctuate. Any data and commentary provided in this press release are for informational purposes only.
This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are based on each Fund’s current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in each Fund’s filings with the
For more information, please call Investor Relations: 1-888-777-0102, or consult the Funds’ web site at www.lmcef.com. The information contained on the Funds’ web site is not part of this press release. Hard copies of the Funds’ complete audited financial statements are available free of charge upon request.
Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Funds.
Category: Fund Announcement
Source: Legg Mason, Inc.
Media Contact: Fund Investor Services-1-888-777-0102