DWS Enhanced Commodity Strategy Fund, Inc. Announces Election to Opt Out of the Maryland Control Share Acquisition Act
21 Juli 2010 - 11:05PM
Business Wire
DWS Enhanced Commodity Strategy Fund, Inc. (the “Fund”) (NYSE:
GCS) announced today that the Fund has elected to opt out of the
Maryland Control Share Acquisition Act effective as of the close of
business on July 21, 2010.
On September 11, 2009, the Fund opted into the Maryland Control
Share Acquisition Act to protect the interests of stockholders
against potentially disruptive actions by a dissident stockholder,
Western Investment LLC, whose interests were, in the judgment of
the Board of Directors, potentially inconsistent with and adverse
to the best interests of the Fund.
In taking the actions announced today, the Fund considered that
Western Investment LLC recently indicated that it had dropped its
opposition to the proposed merger of the Fund into DWS Enhanced
Commodity Strategy Fund, a registered open-end fund also managed by
Deutsche Investment Management Americas Inc., and announced that it
will vote in favor of the merger.
For more information about GCS, visit www.dws-investments.com or
call (800) 349-4281.
IMPORTANT INFORMATION
DWS Enhanced Commodity Strategy Fund, Inc. (formerly DWS
Global Commodities Stock Fund, Inc.) (NYSE: GCS) is a
non-diversified, closed-end investment company currently invested
in commodity-linked derivative instruments backed by a portfolio of
fixed income securities, including inflation-indexed securities, of
varying maturities issued by the US government, non-US governments,
their agencies or instrumentalities, and US and non-US corporations
and derivatives related to each of these types of securities. The
investment objective of the Fund is capital appreciation with total
return as a secondary objective.
The fund invests in commodity-related securities, including
commodity-linked derivatives which may subject the fund to special
risks. Market price movements or regulatory and economic changes
will have a significant impact on the fund’s performance. Any fund
that concentrates in a particular segment of the market will
generally be more volatile than a fund that invests more broadly.
Bond investments are subject to interest-rate and credit risks.
When interest rates rise, bond prices generally fall. Credit risk
refers to the ability of an issuer to make timely payments of
principal and interest. This fund is non-diversified and can take
larger positions in fewer issues, increasing its potential risk.
Stocks may decline in value. Leverage results in additional risks
and can magnify the effect of any losses.
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of fund securities
in any state or jurisdiction in which such offer or solicitation or
sale would be unlawful prior to registration or qualification under
the laws of such state or jurisdiction.
Certain statements contained in this release may be
forward-looking in nature. These include all statements relating to
plans, expectations, and other statements that are not historical
facts and typically use words like “expect,” “anticipate,”
“believe,” and similar expressions. Such statements represent
management's current beliefs, based upon information available at
the time the statements are made, with regard to the matters
addressed. All forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in, or implied by, such statements. Management
does not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events, or otherwise.
The following factors, among others, could cause actual
results to differ materially from forward-looking statements: (i)
the need to obtain any necessary regulatory approvals; (ii) the
effects of changes in market and economic conditions; (iii) other
legal and regulatory developments; and (iv) other additional risks
and uncertainties.
FOR MORE INFORMATION: For more information regarding DWS
Enhanced Commodity Strategy Fund, a registered open-end fund,
including to obtain a free copy of the prospectus/proxy statement
relating to the proposed merger (and containing important
information about fees, expenses and risk considerations) which is
included in an effective registration statement that has been filed
by such fund with the SEC, please visit the SEC’s Website
www.sec.gov. Please read the prospectus/proxy statement
carefully before making any investment decisions because it
contains important information. To obtain a summary prospectus, if
available, or prospectus, download one from
www.dws-investments.com, talk to your financial
representative or call Shareholder Services at (800) 621-1048. We
advise you to carefully consider the product’s objectives, risks,
charges and expenses before investing. The summary prospectus and
prospectus contain this and other important information about the
investment products. Please read each prospectus carefully before
you invest.
NOT FDIC/ NCUA INSURED • MAY LOSE
VALUE • NO BANK GUARANTEENOT A DEPOSIT • NOT INSURED BY ANY
FEDERAL GOVERNMENT AGENCY
DWS Investments is part of Deutsche Bank’s Asset Management
division and, within the US, represents the retail asset management
activities of Deutsche Bank AG, Deutsche Bank Trust Company
Americas, Deutsche Investment Management Americas Inc. and DWS
Trust Company. (R-13549-2 7/10)
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