EMO.NYSEClearbridge Energy Midstream Opportunity Fund INC

DEFA14A: ClearBridge Energy Midstream Opportunity Fund Inc. Amends Proxy Statement to Clarify Preferred Share Information

Sentiment:

Proxy Statement Amendment

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ClearBridge Energy Midstream Opportunity Fund Inc. has amended its definitive proxy statement to include specific details regarding the liquidation preferences of its outstanding preferred shares.

Summary

  • ClearBridge Energy Midstream Opportunity Fund Inc. filed an amendment to its definitive proxy statement on March 6, 2024.
  • The amendment clarifies information about the Fund's outstanding preferred shares, specifically their liquidation preferences.
  • The original filing inadvertently omitted this information.
  • The record date for determining stockholders entitled to vote at the meeting was February 7, 2024.
  • As of the record date, the Fund had 12,787,291 shares of Common Stock outstanding.
  • The Fund also had 140 Series H, 30 Series I, 70 Series J, 109 Series K, and 566,669 Series L Preferred Shares outstanding.
  • Series H, I, J, and K Preferred Shares have a liquidation preference of $100,000.00 per share.
  • Series L Preferred Shares have a liquidation preference of $30.00 per share.
  • Common stockholders are entitled to one vote per share.
  • Preferred stockholders are entitled to one vote for every $30.00 of liquidation preference held.

Sentiment

Score: 7

Explanation: The document is a routine amendment to a proxy statement, clarifying details about preferred shares. It doesn't contain any significantly positive or negative news, but the increased transparency is generally viewed favorably.

Positives

  • The amendment provides greater clarity and transparency to shareholders regarding the voting rights associated with preferred shares.

Industry Context

This amendment ensures compliance with SEC regulations regarding proxy statement disclosures, particularly concerning the rights and preferences of different classes of shares. It is standard practice for investment funds to clarify such details to maintain investor confidence and facilitate informed voting decisions.

Key Dates

DateDescription
February 7, 2024Record date for determining stockholders entitled to notice of and to vote at the Meeting.
March 6, 2024Date the Definitive Proxy Statement was filed with the Securities and Exchange Commission.

Keywords

Proxy Statement, Preferred Shares, Liquidation Preference, Common Stock, Voting Rights, Amendment, ClearBridge Energy Midstream Opportunity Fund

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