DWS RREEF World Real Estate Fund, Inc. Announces Final Results of Reconvened Annual Meeting of Stockholders
16 Agosto 2010 - 3:33PM
Business Wire
The Board of Directors of DWS RREEF World Real Estate Fund,
Inc. (NYSE:DRP) announced today the final results of the Fund’s
reconvened Annual Meeting of Stockholders that 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. The final report of the
Independent Inspector of Election confirms that an insufficient
number of holders of shares of the Fund were 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. Accordingly, pursuant to 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.
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 GUARANTEENOT 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. (5142-5 8/10)
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