Neuberger Berman Dividend Advantage Fund Inc. Announces Date of Special Meeting of Stockholders
August 27 2009 - 8:08PM
Business Wire
Neuberger Berman Dividend Advantage Fund Inc. (AMEX: NDD) (the
“Fund”) announced today that its Board of Directors (the “Board”)
has scheduled a Special Meeting of Stockholders (the “Meeting”) to
be held on Tuesday, October 13, 2009 at 2:00 p.m. Eastern time at
the offices of Neuberger Berman LLC, in New York City. The record
date for stockholders to be eligible to vote at the Meeting is
September 3, 2009. The Meeting is being called to vote on a
proposal to liquidate and dissolve the Fund, as set forth in a Plan
of Liquidation and Dissolution.
If stockholders approve the proposal, the Fund will commence an
orderly liquidation of its assets, unwind its leverage, discharge
its liabilities (including its liabilities in connection with
unwinding its leverage), cease trading on the NYSE Amex (formerly,
American Stock Exchange) and distribute its net proceeds to its
common stockholders. Additional information will be included in the
proxy statement to be sent to stockholders in advance of the
Meeting.
About Neuberger Berman
Neuberger Berman Group LLC is one of the world’s largest
private, independent, employee-controlled asset management
companies. As of June 30, 2009, assets under management were
approximately $158 billion. Established in 1939, Neuberger Berman
is a leader in a broad range of global investment solutions –
equity, fixed income, and alternatives – to institutions and
individuals though customized separately managed accounts, mutual
funds and alternative investment products. For more information
please visit our website at www.nb.com.
Statements made in this release that look forward in time
involve risks and uncertainties and are forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such risks and uncertainties include, without limitation,
the adverse effect from a decline in the securities markets or a
decline in the Fund’s performance, a general downturn in the
economy, competition from other closed-end investment companies,
changes in government policy or regulation, inability of the Fund’s
investment manager to attract or retain key employees, inability of
the Fund to implement its investment strategy, inability of the
Fund to manage rapid expansion and unforeseen costs and other
effects related to legal proceedings or investigations of
governmental and self-regulatory organizations.
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