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Notes to Financial Statements
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(Unaudited)
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A. Accounting Policies
The Central and
Eastern Europe Fund, Inc. (the “Fund”) is a non-diversified, closed-end management investment company incorporated in Maryland. The Fund commenced investment operations on March 6, 1990.
The preparation of financial statements in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires
management to make estimates and assumptions that affect the reported amounts and disclosures in the financial statements. Actual results could differ from those estimates. The Fund qualifies as an investment company under Topic 946 of Accounting
Standards Codification of U.S. GAAP. The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.
Security Valuation. The Fund calculates its net asset
value (“NAV”) per share for publication at the close of regular trading on Deutsche Börse XETRA, normally at 11:30 a.m., New York time.
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in three broad levels. Level 1 includes quoted prices
in active markets for identical securities. Level 2 includes other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds and credit risk). Level 3 includes significant unobservable
inputs (including the Fund’s own assumptions in determining the fair value of investments). The level assigned to the securities valuations may not be an indication of the risk or liquidity associated with investing in those securities.
Equity securities are valued at the most recent sale price or official closing price reported on the exchange (U.S. or foreign) or over-the-counter market on which they trade prior to the time of valuation. Securities for which no sales are reported are valued at the calculated mean between the most recent bid and asked quotations on the
relevant market or, if a mean cannot be determined, at the most recent bid quotation. Equity securities are generally categorized as Level 1.
Investments in open-end investment companies are valued and traded at their NAV each business day and are categorized as Level 1.
Securities
and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance
with procedures approved by the Board and are generally categorized as Level 3. In accordance with the Fund’s valuation procedures, factors considered in determining value may include, but are not limited to, the type of the security; the
size of the
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holding; the initial cost of the security; the existence of any contractual restrictions on the security’s disposition; the price and extent of public trading in similar securities of the
issuer or of comparable companies; quotations or evaluated prices from broker-dealers and/or the appropriate stock exchange (for exchange-traded securities); an analysis
of the company’s or issuer’s financial statements; an evaluation of the forces that influence the issuer and the market(s) in which the security is purchased and sold; and, with respect to debt securities, the maturity, coupon,
creditworthiness, currency denomination, and the movement of the market in which the security is normally traded. The value determined under these procedures may differ from published values for the same securities.
Disclosure about the classification of the fair value measurements is included in a table following the Fund’s Schedule of Investments.
Securities Transactions and Investment Income. Investment
transactions are accounted for on a trade date plus one basis for daily NAV calculation. However, for financial reporting purposes, investment security transactions are reported on trade date. Interest income is recorded on the accrual basis.
Dividend income is recorded on the ex-dividend date net of foreign withholding taxes. Certain dividends from foreign securities may be recorded subsequent to the
ex-dividend date as soon as the Fund is informed of such dividends. Realized gains and losses from investment transactions are recorded on an identified cost basis. Proceeds from litigation payments, if any,
are included in net realized gain (loss) for investments.
Securities Lending. Brown Brothers Harriman & Co., as lending agent, lends securities of the Fund to certain financial institutions under the terms of its securities lending agreement. During the term of the loans,
the Fund continues to receive dividends generated by the securities and to participate in any changes in their market value. The Fund requires the borrowers of the securities to maintain collateral with the Fund consisting of cash and/or U.S.
Treasury securities having a value at least equal to the value of the securities loaned. When the collateral falls below specified amounts, the lending agent will use its best effort to obtain additional collateral on the next business day to meet
required amounts under the securities lending agreement. As of period end, any securities on loan were collateralized by cash. During the six months ended April 30, 2021, the Fund invested the cash collateral into a joint trading account in DWS
Government & Agency Securities Portfolio, an affiliated money market fund managed by DWS Investment Management Americas, Inc. DWS Investment Management Americas, Inc. receives a management/administration fee (0.01% annualized effective rate
as of April 30, 2021) on the cash collateral invested in DWS Government & Agency Securities Portfolio. The Fund receives compensation for lending its securities either
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in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to a lending agent. Either the Fund or the borrower may terminate the loan at any time
and the borrower, after notice, is required to return borrowed securities within a standard time period. There may be risks of delay and costs in recovery of securities or even loss of rights in the collateral should the borrower of the securities
fail financially. If the Fund is not able to recover securities lent, the Fund may sell the collateral and purchase a replacement investment in the market, incurring the risk that the value of the replacement security is greater than the value of
the collateral. The Fund is also subject to all investment risks associated with the reinvestment of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.
As of April 30, 2021, the Fund had securities on loan which were classified as common stock in the Schedule of Investments. The value of the related collateral exceeded
the value of the securities loaned at period end. As of period end, the remaining contractual maturity of the collateral agreements were overnight and continuous.
Foreign Currency Translation. The books and records of the Fund are maintained in United States dollars.
Assets and liabilities denominated in foreign currency are translated into United States dollars at the prevailing exchange rates at period end. Purchases and sales of
investment securities, income and expenses are translated at the rate of exchange prevailing on the respective dates of such transactions. Net realized and unrealized gains and losses on foreign currency transactions represent net gains and losses
between trade and settlement dates on securities transactions, the acquisition and disposition of foreign currencies, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The portion of
both realized and unrealized gains and losses on investments that results from fluctuations in foreign currency exchange rates is not separately disclosed but is included with net realized and unrealized gain/appreciation and loss/depreciation on
investments.
Contingencies. In the normal course of
business, the Fund may enter into contracts with service providers that contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the
Fund that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.
Taxes. The Fund’s policy is to comply with the
requirements of the Internal Revenue Code, as amended, which are applicable to regulated investment companies, and to distribute all of its taxable income to its shareholders.
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Additionally, the Fund may be subject to taxes imposed by the governments of countries in which it invests. Such taxes are
generally based on income and/or capital gains earned or repatriated. Estimated tax liabilities on certain foreign securities are recorded on an accrual basis and are reflected as components of interest income or net change in unrealized gain/loss
on investments. Tax liabilities realized as a result of security sales are reflected as a component of net realized gain/loss on investments.
At October 31,
2020, the Fund had a net tax basis capital loss carryforward of approximately $52,888,000, which may be applied against realized net taxable capital gains indefinitely, including short-term losses ($9,960,000)
and long-term losses ($42,928,000).
At April 30, 2021, the aggregate cost of investments for federal income tax purposes was
$136,801,070. The net unrealized appreciation for all investments based on tax cost was $51,382,516. This consisted of aggregate gross unrealized appreciation for all investments for which there was an excess of value over tax cost of $58,785,211
and aggregate gross unrealized depreciation for all investments for which there was an excess of tax cost over value of $7,402,695.
The Fund has reviewed the tax
positions for the open tax years as of October 31, 2020 and has determined that no provision for income tax and/or uncertain tax positions is required in the Fund’s financial statements. The Fund’s federal tax returns for the prior
three fiscal years remain open subject to examinations by the Internal Revenue Service.
Dividends and
Distributions to Shareholders. The Fund records dividends and distributions to its shareholders on the ex-dividend date. The timing and character of
certain income and capital gain distributions are determined annually in accordance with United States federal income tax regulations, which may differ from accounting principles generally accepted in the United States of America. These differences
primarily relate to investments in foreign currency denominated investments, recognition of certain foreign currency gains (losses) as ordinary income (loss) and certain securities sold at a loss. As a result, net investment income (loss) and net
realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. Accordingly, the Fund may periodically make reclassifications among certain of its capital accounts without
impacting the NAV of the Fund.
The tax character of current year distributions will be determined at the end of the current fiscal year.
B. Investment Advisory and Administration Agreements
The Fund is party to
an Investment Advisory Agreement with DWS International GmbH. The Fund also has an Administration Agreement with
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DWS Investment Management Americas, Inc. (“DIMA”). DWS International GmbH and DIMA are affiliated companies.
Under the Investment Advisory Agreement with DWS International GmbH, DWS International GmbH directs the investments of the Fund in accordance with its investment
objectives, policies and restrictions. DWS International GmbH determines the securities, instruments and other contracts relating to investments to be purchased, sold or entered into by the Fund.
The Investment Advisory Agreement provides DWS International GmbH with a fee, computed weekly and payable monthly, at the annual rate of 0.75% of the Fund’s average
weekly net assets up to and including $100 million, 0.60% of such assets in excess of $100 million and up to and including $500 million, 0.55% of such assets in excess of $500 million and up to and including $750 million, and 0.50% of such
assets in excess of $750 million.
Accordingly, for the six months ended April 30, 2021, the fee pursuant to the Investment Advisory Agreement was equivalent to an
annualized rate of 0.68% of the Fund’s average daily net assets.
Under the Administration Agreement with DIMA, DIMA provides certain fund administration
services to the Fund. The Administration Agreement provides DIMA with an annual fee, computed weekly and payable monthly, of 0.20% of the Fund’s average weekly net assets.
C. Transactions with Affiliates
DWS Service Company (“DSC”), an
affiliate of DIMA, is the transfer agent, dividend-paying agent and shareholder service agent of the Fund. Pursuant to a sub-transfer agency agreement between DSC and
DST Systems, Inc. (“DST”), DSC has delegated certain transfer agent and dividend-paying agent functions to DST. DSC compensates DST out of the fee it receives from the Fund. For the six months ended
April 30, 2021, the amount charged to the Fund by DSC included in the Statement of Operations under “Services to shareholders” aggregated $4,464, of which $717 is unpaid.
Under an agreement with the Fund, DIMA is compensated for providing certain pre-press and regulatory filing services to the Fund.
For the six months ended April 30, 2021, the amount charged to the Fund by DIMA included in the Statement of Operations under “Reports to shareholders and shareholder meeting expenses” aggregated $5,206, of which $4,208 is unpaid.
Deutsche Bank AG, the majority shareholder in the DWS Group, and its affiliates may receive brokerage commissions as a result of executing agency transactions in
portfolio securities on behalf of the Fund, that the Board determined were effected in compliance with the Fund’s
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The Central and Eastern Europe Fund, Inc.
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Rule 17e-1 procedures. For the six months ended April 30, 2021, Deutsche Bank did not receive brokerage commissions from the Fund.
Certain Officers of the Fund are also officers of DIMA.
The Fund pays each Director
who is not an “interested person” of DIMA or DWS International GmbH retainer fees plus specified amounts for attended board and committee meetings.
The
Fund may invest cash balances in DWS Central Cash Management Government Fund, which is managed by DIMA. The Fund indirectly bears its proportionate share of the expenses of DWS Central Cash Management Government Fund. DWS Central Cash Management
Government Fund does not pay DIMA an investment management fee. DWS Central Cash Management Government Fund seeks maximum current income to the extent consistent with stability of principal.
D. Portfolio Securities
Purchases and sales of investment securities,
excluding short-term investments, for the six months ended April 30, 2021 were $32,618,184 and $40,375,506, respectively.
E. Investing in Emerging Markets in Central and Eastern Europe
Investing
in emerging markets may involve special risks and considerations not typically associated with investing in developed markets. These risks include currency fluctuations, high rates of inflation or deflation, repatriation restrictions on income and
capital, and adverse political, social and economic developments. Moreover, securities issued in these markets may be less liquid, may be subject to government ownership controls or delayed settlements and may have prices that are more volatile or
less easily assessed than those of comparable securities of issuers in developed markets.
The European Union, the United States and other countries have imposed
sanctions in response to the Russian military and other actions in recent years. These sanctions have adversely affected Russian individuals, Russian issuers and the Russian economy. Russia, in turn, has imposed sanctions targeting Western
individuals, businesses and products. The various sanctions have adversely affected, and may continue to adversely affect, not only the Russian economy but also the economies of many countries in Europe, including countries in Central Europe. The
continuation of current sanctions, or the imposition of additional sanctions, may materially adversely affect the value or liquidity of the Fund’s portfolio.
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The Central and Eastern Europe Fund, Inc.
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F. Capital
During the six
months ended April 30, 2021 and the year ended October 31, 2020, the Fund purchased 155,638 and 193,962 of its shares of common stock on the open market at a total cost of $3,762,084 and $4,404,248 ($24.17 and $22.71 average per share),
respectively. The average discount of these purchased shares, comparing the purchase price to the NAV per share at the time of purchase, was 14.44% and 14.73%, respectively.
During the six months ended April 30, 2021 and the year ended October 31, 2020, the Fund issued for dividend reinvestment 36,305 and 63,136 shares, respectively.
The average discount of these issued shares, comparing the issue price to the NAV per share at the time of issuance, was 15.18% and 11.54%, respectively.
G.
Share Repurchases
On July 26, 2019, the Fund announced that the Board of Directors approved an extension of the current repurchase authorization permitting
the Fund to repurchase up to 677,000 shares during the period from August 1, 2019 and July 31, 2020. The Fund repurchased 171,000 shares between August 1, 2019 and July 31, 2020. On July 24, 2020, the Fund announced that the
Board of Directors approved an extension of the current repurchase authorization permitting the Fund to repurchase up to 667,000 shares during the period from August 1, 2020 and July 31, 2021. The Fund repurchased 228,400 shares between
August 1, 2020 and April 30, 2021.
Repurchases will be made from time to time when they are believed to be in the best interests of the Fund. There can be
no assurance that the Fund’s repurchases will reduce the spread between the market price of the Fund’s shares referred to below and its NAV per share.
Monthly updates concerning the Fund’s repurchase program are available on its Web site at dws.com.
H. Concentration of Ownership
From time to time, the Fund may have a
concentration of several shareholder accounts holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund. At April 30, 2021, there were four shareholders that held
approximately 25%, 19%, 11% and 5% respectively, of the outstanding shares of the Fund.
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The Central and Eastern Europe Fund, Inc.
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I. Other — COVID-19 Pandemic
A novel coronavirus known as COVID-19, declared a pandemic by the World Health Organization, has caused significant uncertainty,
market volatility, decreased economic and other activity and increased government activity. Specifically, COVID-19 has led to significant death and morbidity, and concerns about its further spread have
resulted in the closing of schools and non-essential businesses, cancellations, shelter-in place orders, lower consumer spending in certain sectors, social distancing, bans on large social gatherings and travel, quarantines, government economic
stimulus measures, reduced productivity, rapid increases in unemployment, increased demand for and strain on government and medical resources, border closings and global trade and supply chain interruptions, among others. The full effects, duration
and costs of the COVID-19 pandemic are impossible to predict, and the circumstances surrounding the COVID-19 pandemic will continue to evolve. The pandemic may affect
certain countries, industries, economic sectors, companies and investment products more than others, may exacerbate existing economic, political, or social tensions and may increase the probability of an economic recession or depression. The Fund
and its investments may be adversely affected by the effects of the COVID-19 pandemic, and a prolonged pandemic may result in the Fund and its service providers experiencing operational difficulties in
coordinating a remote workforce and implementing their business continuity plans, among others. Management will continue to monitor the impact COVID-19 has on the Fund and reflect the consequences as
appropriate in the Fund’s accounting and financial reporting.
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The Central and Eastern Europe Fund, Inc.
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Additional Information
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Automated Information Lines
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DWS Closed-End Fund Info Line
(800) 349-4281
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Web Site
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dws.com
Obtain fact sheets, financial reports, press releases and webcasts when available.
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Written Correspondence
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DWS
Attn: Secretary of the DWS Funds
100 Summer Street
Boston, MA 02110
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Legal Counsel
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Sullivan & Cromwell LLP
125 Broad Street
New York, NY 10004
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Dividend Reinvestment Plan Agent
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DST Systems, Inc.
333 W. 11th Street, 5th Floor
Kansas City, MO 64105
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Shareholder Service Agent and Transfer Agent
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DWS Service Company
P.O. Box 219066
Kansas City, MO 64121-9066
(800) GERMANY ((800) 437-6269)
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Custodian
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Brown Brothers Harriman & Company
50 Post Office Square
Boston, MA 02110
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Independent Registered Public Accounting Firm
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Ernst & Young LLP
200 Clarendon Street
Boston, MA 02116
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Proxy Voting
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A description of the Fund’s policies and procedures for voting proxies for portfolio securities and information about how the Fund voted proxies related to its portfolio securities
during the most recent 12-month period ended June 30 is available on our web site — dws.com/en-us/resources/proxy-voting — or on the SEC’s web
site — sec.gov. To obtain a written copy of the Fund’s policies and procedures without charge, upon request, call us toll free at (800) GERMANY ((800) 437-6269).
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Portfolio Holdings
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Following the Fund’s fiscal first and third quarter-end, a complete portfolio holdings listing is posted on dws.com, and is available free of charge by contacting your financial
intermediary, or if you are a direct investor, by calling (800) 728-3337. In addition, the portfolio holdings listing is filed with the SEC on the Fund’s Form N-PORT and will be available on the SEC’s Web site at sec.gov. Additional
portfolio holdings for the Fund are also posted on dws.com from time to time.
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The Central and Eastern Europe Fund, Inc.
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Investment Management
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DWS International GmbH, which is part of DWS Group, is the investment advisor
for the Fund. DWS International GmbH provides a full range of investment advisory services to both institutional and retail clients. DWS International GmbH is a direct, wholly owned subsidiary of DWS Group.
DWS Group is a global organization that offers a wide range of investing expertise and resources,
including hundreds of portfolio managers and analysts and an office network that reaches the world’s major investment centers. This well-resourced global investment platform brings together a wide variety of experience and investment insight
across industries, regions, asset classes and investing styles.
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Voluntary Cash Purchase Program and Dividend Reinvestment Plan
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The Fund offers shareholders a Voluntary Cash Purchase Program and Dividend Reinvestment Plan
(“Plan”) which provides for optional cash purchases and for the automatic reinvestment of dividends and distributions payable by the Fund in additional Fund shares. Plan participants may invest as little as $100 in any month and may invest
up to $36,000 annually. The Plan allows current shareholders who are not already participants in the Plan and first time investors to enroll in the Plan by making an initial cash deposit of at least $250 with the plan agent. Share purchases are
combined to receive a beneficial brokerage fee. A brochure is available by writing or telephoning the transfer agent:
DWS Service Company
P.O. Box 219066
Kansas City, MO 64121-9066
Tel.: 1-800-GERMANY (1-800-437-6269) (in the U.S.)
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NYSE Symbol
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CEE
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Nasdaq Symbol
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XCEEX
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CUSIP Number
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153436100
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The Central and Eastern Europe Fund, Inc.
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FACTS
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What Does DWS Do With Your Personal Information?
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Why?
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Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we
collect, share and protect your personal information. Please read this notice carefully to understand what we do.
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What?
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The types of personal information we collect and share can include:
– Social Security number
– Account balances
– Purchase and transaction history
– Bank account information
– Contact information such as mailing address, e-mail address and telephone number
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How?
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All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their
customers’ personal information, the reasons DWS chooses to share and whether you can limit this sharing.
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Reasons we can share your personal
information
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Does DWS share?
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Can you limit
this sharing?
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For our everyday business purposes —
such as to process your transactions, maintain your account(s), respond to court orders or legal investigations
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Yes
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No
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For our marketing purposes — to offer our products and services to you
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Yes
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No
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For joint marketing with other financial companies
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No
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We do not share
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For our affiliates’ everyday business purposes — information about your transactions and experiences
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No
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We do not share
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For our affiliates’ everyday business purposes — information about your creditworthiness
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No
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We do not share
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For non-affiliates to market to you
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No
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We do not share
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Questions?
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Call (800) 728-3337 or e-mail us at service@dws.com
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The Central and Eastern Europe Fund, Inc.
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Who we are
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Who is providing this notice?
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DWS Distributors, Inc; DWS Investment Management Americas, Inc.; DWS Trust Company; the DWS Funds
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What we do
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How does DWS protect my personal information?
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To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards, secured files, and
secured buildings.
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How does DWS collect my personal information?
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We collect your personal information, for example, when you:
– open an account
– give us your contact information
– provide bank account information for ACH or wire transactions
– tell us where to send money
– seek advice about your investments
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Why can’t I limit all sharing?
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Federal law gives you the right to limit only
– sharing
for affiliates’ everyday business purposes
– information about your creditworthiness
– affiliates from using your information to market to you
– sharing
for non-affiliates to market to you
State laws and
individual companies may give you additional rights to limit sharing.
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Definitions
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Affiliates
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Companies related by common ownership or control. They can be financial or non-financial companies. Our affiliates include financial companies with the
DWS or Deutsche Bank (“DB”) name, such as DB AG Frankfurt.
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Non-affiliates
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Companies not related by common ownership or control. They can be financial and
non-financial companies.
Non-affiliates we share with include account service providers, service quality monitoring services, mailing service providers and
verification services to help in the fight against money laundering and fraud.
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Joint marketing
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A formal agreement between non-affiliated financial companies that together market financial products or services to you. DWS does not jointly
market.
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California residents may go to https://fundsus.dws.com/us/en-us/legal-resources/privacy-policy.html to obtain additional information
relating to their rights under California state law.
Rev. 12/2020
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The Central and Eastern Europe Fund, Inc.
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Notes
There are three closed-end funds investing in European equities advised and
administered by wholly owned subsidiaries of the DWS Group:
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—
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The Central and Eastern Europe Fund, Inc. — investing primarily in equity or equity-linked securities of issuers
domiciled in Central and Eastern Europe (with normally at least 80% in securities of issuers domiciled in countries in Central and Eastern Europe) and concentrating in the energy sector (with more than 25% of the fund’s total assets in issuers
conducting their principal activities in that sector).
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—
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The European Equity Fund, Inc. — investing primarily in equity or equity-linked securities of issuers domiciled in
Europe (with normally at least 80% in securities of issuers domiciled in Europe).
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—
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The New Germany Fund, Inc. — investing primarily in equity or equity-linked securities of middle market German
companies with up to 20% in other Western European companies (with no more than 15% in any single country).
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Please consult your broker for advice on any of the above or call 1-800-GERMANY (1-800-437-6269) (in the U.S.) for
shareholder reports.
CEE-3
(R-027581-10 6/21)
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(b) Not applicable
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ITEM 2.
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CODE OF ETHICS
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Not applicable.
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ITEM 3.
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AUDIT COMMITTEE FINANCIAL EXPERT
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Not applicable
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ITEM 4.
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PRINCIPAL ACCOUNTANT FEES
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Not applicable
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ITEM 5.
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AUDIT COMMITTEE OF LISTED REGISTRANTS
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Not applicable
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ITEM 6.
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SCHEDULE OF INVESTMENTS
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Not applicable
|
|
|
|
|
ITEM 7.
|
DISCLOSURE OF PROXY VOTING POLICIES
|
|
|
|
|
|
Not applicable
|
|
|
|
|
ITEM 8.
|
PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES
|
|
|
|
|
|
Not applicable
|
|
|
|
|
ITEM 9.
|
PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY
|
|
|
|
|
|
(a)
|
(b)
|
(c)
|
(d)
|
|
Period
|
Total Number
of Shares Purchased
|
Average Price
Paid per Share
|
Total Number of
Shares Purchased as
Part of Publicly Announced
Plans or Programs
|
Maximum Number
of Shares that May
Yet Be Purchased
Under the
Plans or Programs
|
|
|
|
|
|
|
|
November 1 through November 30
|
22,708
|
$ 21.60
|
22,708
|
571,530
|
|
December 1 through December 31
|
18,830
|
$ 24.50
|
18,830
|
552,700
|
|
January 1 through January 31
|
18,000
|
$ 24.65
|
18,000
|
534,700
|
|
February 1 through February 28
|
13,900
|
$ 24.82
|
13,900
|
520,800
|
|
March 1 through March 31
|
42,700
|
$ 24.72
|
42,700
|
478,100
|
|
April 1 through April 30
|
39,500
|
$ 24.46
|
39,500
|
438,600
|
|
|
|
|
|
|
|
Total
|
155,638
|
$ 24.17
|
155,638
|
|
|
|
|
|
|
|
|
On July 24, 2020 the Fund announced that its Board of Directors has authorized the extension of the repurchase program permitting the Fund to repurchase up to 667,000 shares during the period August 1, 2020- July 31, 2021. The Fund repurchased 228,400 shares between August 1, 2020 and April 30, 2021.
|
|
|
|
|
ITEM 10.
|
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
|
|
|
|
|
|
There were no material changes to the procedures by which stockholders may recommend nominees to the Fund’s Board. The Nominating and Governance Committee will consider nominee candidates properly submitted by stockholders in accordance with applicable law, the Fund's Articles of Incorporation or By-laws, resolutions of the Board and the qualifications and procedures set forth in the Nominating and Governance Committee Charter and this proxy statement. The Nominating and Governance Committee's Charter requires that a stockholder or group of stockholders seeking to submit a nominee candidate (i) must have beneficially owned at least 5% of the Fund's common stock for at least two years, (ii) may submit only one nominee candidate for any particular meeting of stockholders, and (iii) may submit a nominee candidate for only an annual meeting or other meeting of stockholders at which directors will be elected. The stockholder or group of stockholders must provide notice of the proposed nominee pursuant to the requirements found in the Fund's By-laws. Generally, this notice must be received not less than 90 days nor more than 120 days prior to the first anniversary of the date of mailing of the notice for the preceding year's annual meeting. Such notice shall include the specific information required by the Fund's By-laws. The Nominating and Governance Committee will evaluate nominee candidates properly submitted by stockholders on the same basis as it considers and evaluates candidates recommended by other sources.
|
|
|
|
|
ITEM 11.
|
CONTROLS
|
|
|
|
|
|
(a)
|
The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
|
|
|
|
|
|
(b)
|
There have been no changes in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.
|
|
|
|
|
ITEM 12.
|
Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
|
|
|
|
|
|
Not applicable
|
|
|
|
|
ITEM 13.
|
EXHIBITS
|
|
|
|
|
|
(a)(1)
|
Not applicable
|
|
|
|
|
|
(a)(2)
|
Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
|
|
|
|
|
|
(b)
|
Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.
|
|
|
|
|
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
Registrant:
|
The Central and Eastern Europe Fund, Inc.
|
|
|
|
|
|
|
|
By:
|
/s/Hepsen Uzcan
Hepsen Uzcan
President
|
|
|
|
|
Date:
|
6/29/2021
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the
capacities and on the dates indicated.
|
By:
|
/s/Hepsen Uzcan
Hepsen Uzcan
President
|
|
|
|
|
Date:
|
6/29/2021
|
|
|
|
|
|
|
|
|
|
|
By:
|
/s/Diane Kenneally
Diane Kenneally
Chief Financial Officer and Treasurer
|
|
|
|
|
Date:
|
6/29/2021
|
Central and Eastern Europe (NYSE:CEE)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024
Central and Eastern Europe (NYSE:CEE)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024
