DWS Enhanced Commodity Strategy Fund, Inc. Announces Formal Board Approval of Proposed Merger
26 Mayo 2010 - 3:30PM
Business Wire
DWS Enhanced Commodity Strategy Fund, Inc. (NYSE: GCS)
announced that its Board of Directors has formally approved a
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 Board approved the merger
in principle in April, and is now formally recommending that
stockholders vote in favor of the transaction, which would allow
stockholders to maintain their investments in a similarly managed
portfolio that offers them daily liquidity for their shares at net
asset value (subject to any applicable redemption fee).
The proposal will be submitted to stockholders for a vote at the
upcoming Annual Meeting of Stockholders of the Fund scheduled to be
held on June 28, 2010 at the New York Marriott Eastside, 525
Lexington Avenue, New York, NY 10017. The close of business on
April 23, 2010 has been fixed as the record date for the meeting
and any postponements or adjournments thereof. The terms and
conditions of the proposed merger, and the considerations of the
Board in approving it, are described in detail in a
prospectus/proxy statement which is on file with the Securities and
Exchange Commission and which the Fund expects to mail to
stockholders on or about May 28, 2010.
For more information about DWS Investments closed-end funds,
visit www.dws-investments.com or call (800) 349-4281.
IMPORTANT INFORMATION
The Fund, its directors, executive officers and other members
of management may be deemed to be participants in any future
solicitation of the Fund’s security holders in connection with its
2009-2010 annual meeting of stockholders. Stockholders may obtain
information regarding the names, affiliations and interests of such
individuals in the Fund’s Certified Shareholder Report on Form
N-CSR for the year ended June 30, 2009 and its proxy
statement for the 2009-2010 annual meeting of stockholders.
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.
Leverage results in additional risks and can magnify the effect of
any losses.
Shares of common stock of closed-end funds, unlike open-end
funds, are not continuously offered. There is typically a one time
public offering and, once issued, shares of common stock of
closed-end funds are traded in the open market generally through a
stock exchange. Common shares of closed-end funds frequently trade
at a discount to net asset value. The price of common shares is
determined by a number of factors, several of which are beyond the
control of the fund. Therefore, the fund cannot predict whether its
common shares will trade at, below, or above net asset
value.
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: The foregoing is not a solicitation of
any proxy. For more information regarding the funds, or to receive
a free copy of materials filed with the SEC, including the
prospectus/proxy statement relating to the proposed merger (and
containing important information about fees, expenses and risk
considerations) which is included in a registration statement that
has been filed with the SEC and become effective, please visit
www.dws-investments.com. Free copies of such materials
can also be found on the SEC’s Website www.sec.gov.
Please read the prospectus/proxy statement carefully because it
contains important information regarding your investment in the
Fund. Please read the prospectus/proxy statement carefully
before making any investment decisions.
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-16993-3 5/10)
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