DWS Enhanced Commodity Strategy Fund, Inc. Announces Preliminary Results of Reconvened Annual Meeting of Stockholders
July 22 2010 - 4:05PM
Business Wire
The Board of Directors of DWS Enhanced Commodity Strategy
Fund, Inc. (NYSE: GCS) announced today that the Fund’s
reconvened annual meeting of stockholders was held on July 22, 2010
after being adjourned without action on June 28, 2010. Preliminary
results indicate stockholders approved the Board’s proposal to
merge the Fund into DWS Enhanced Commodity Strategy Fund, a
registered open-end fund also managed by Deutsche Investment
Management Americas Inc. The Fund will announce the anticipated
closing date for the merger in a future press release, but at this
time the merger is expected to be completed by the end of August
2010.
At the Annual Meeting, stockholders also considered the election
of Directors of the Fund. Preliminary results indicate that a
quorum was present but none of the nominees received a sufficient
number of votes to be elected. Therefore, the incumbent Class I
Directors, Dawn-Marie Driscoll, John W. Ballantine and Henry P.
Becton, Jr., and the incumbent Class III Directors, Rebecca W.
Rimel, Paul K. Freeman, William McClayton, William N. Searcy, Jr.
and Robert H. Wadsworth, will continue as Directors until such time
as their respective successors are duly elected and qualify.
Preliminary results also indicate that stockholders did not
approve a proposal presented by Western Investment LLC to terminate
the investment management agreement between the Fund and Deutsche
Investment Management Americas Inc.
The Fund will announce final results once the Independent
Inspector of Election issues its final report with respect to the
meeting.
For more information on the Fund, 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 product. Please read the prospectus carefully before you
invest.
NOT FDIC/ NCUA INSURED • MAY
LOSE VALUE • NO BANK GUARANTEE
NOT 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-5841-2 7/10)
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