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Section 18(i) of the Investment Company Act of 1940 (the Act) requires, except as set forth in therein and "as otherwise required by law," that each share of stock issued by a.
The New America High Income Fund, Inc. Announces Election to Opt in to Maryland Control Share Acquisition Act Boston, Massachusetts, UNITED STATES
BOSTON, Feb. 16, 2021 (GLOBE NEWSWIRE) The board of directors (the “Board”) of The New America High Income Fund, Inc. (the “Fund”) announced that the Fund has elected to be subject to the Maryland Control Share Acquisition Act (the “MCSAA”), effective immediately.
The Board believes that electing to be subject to the MCSAA protects the interests of the Fund. Maryland lawmakers instituted the MCSAA to limit the ability of any single stockholder to exert undue influence in pursuit of short-term gains at the expense of long-term value for Fund stockholders and the Fund’s ability to achieve its investment objective.
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NEW YORK, Jan. 25, 2021 /PRNewswire/ The Funds announced today that their respective Boards of Directors unanimously adopted resolutions along with Amended and Restated Bylaws ( Bylaws ) to cause the Funds to be subject to the Maryland Control Share Acquisition Act ( MSCAA ), effective immediately.
The MCSAA protects the interests of all stockholders of a Maryland corporation by providing that any holder of control shares acquired in a control share acquisition may not exercise voting rights with respect to the control shares, except to the extent approved by a vote of two-thirds of all the votes entitled to be cast on the matter, excluding votes otherwise entitled to be cast by the acquiring person (
Foxby Corp Announces Decision to Opt in to Maryland Control Share Acquisition Act albuquerqueexpress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albuquerqueexpress.com Daily Mail and Mail on Sunday newspapers.