DWS RREEF World Real Estate Fund, Inc. Announces Results of Reconvened Annual Meeting of Stockholders
09 Agosto 2010 - 4:29PM
Business Wire
The Board of Directors of DWS RREEF World Real Estate Fund,
Inc. (NYSE: DRP) announced today that the Fund’s reconvened
Annual Meeting of Stockholders was concluded on August 9, 2010
after being adjourned without action on July 12, 2010 (the “Annual
Meeting”). In accordance with the Fund’s charter and as described
in the Fund’s proxy statement, the presence, in person or by proxy,
of the holders of a majority of the outstanding shares of the Fund
(i.e., over 50%) was required to constitute a quorum at the Annual
Meeting. Under Maryland law, the jurisdiction in which the Fund is
incorporated, this quorum requirement cannot be modified without
stockholder approval of an amendment to the Fund’s charter. This is
the same quorum requirement that has applied to all stockholder
meetings since the Fund’s inception.
A sufficient number of holders of shares of the Fund were not
present in person or by proxy to constitute a quorum at the Annual
Meeting, and without a quorum the Fund could not conduct business
with respect to the election of Directors or the stockholder
proposal included in the Fund’s proxy statement. The Fund’s proxy
solicitor advised the Fund that further solicitation of proxies was
unlikely to result in a quorum; therefore, the meeting was
concluded. Accordingly, in accordance with Maryland law, each
incumbent Class III Director (Rebecca W. Rimel, Kenneth C.
Froewiss, William N. Searcy, Jr. and Robert H. Wadsworth) nominated
for re-election by the Board will continue in office as a holdover
director until such time as his or her successor is elected and
qualifies.
The Fund will announce the results of the Independent Inspector
of Election’s final report with respect to the Annual Meeting.
For more information on DRP visit www.dws-investments.com or call (800)
349-4281.
DWS RREEF World Real Estate Fund, Inc. (DRP) is subject to
investment risk. Any fund that concentrates in a particular segment
of the market will generally be more volatile than a fund that
invests more broadly. There are special risks associated with an
investment in real estate, including credit risk, interest rate
fluctuations and the impact of varied economic conditions.
Investing in derivatives entails special risks relating to
liquidity, leverage and credit that may reduce returns and/or
increased volatility. Leverage results in additional risks and can
magnify the effect of any losses. Investing in foreign securities,
particularly those of emerging markets, presents certain risks,
such as currency fluctuations, political and economic changes, and
market risks.
Closed-end funds, unlike open-end funds, are not continuously
offered. There is a one-time public offering and once issued,
shares of closed-end funds are sold in the open market through a
stock exchange. Shares of closed-end funds frequently trade at a
discount to the net asset value. The price of a fund’s shares is
determined by a number of factors, several of which are beyond the
control of the fund. Therefore, a fund cannot predict whether its
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 these
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.
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-5142-4 8/10)
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