DEF: Western Asset High Income Opportunity Fund Inc. Announces Annual Meeting of Stockholders

Western Asset High Income Opportunity Fund Inc. will hold its annual meeting on April 14, 2025, to elect directors and ratify the selection of independent public accountants.

Summary

• Western Asset High Income Opportunity Fund Inc. is holding its Annual Meeting of Stockholders on April 14, 2025.
• The meeting will take place at 1 Madison Avenue, 17th Floor, New York, NY.
• Stockholders will vote on the election of two Class III Directors and the ratification of PricewaterhouseCoopers LLP (PwC) as the independent registered public accountants for the fiscal year ending September 30, 2025.
• The record date for determining stockholders eligible to vote is February 7, 2025.
• As of the record date, the Fund had 95,099,215 shares of Common Stock outstanding.
• The Board of Directors recommends voting FOR the election of the director nominees and FOR the ratification of PwC.
• The estimated cost of the proxy solicitation is $43,421.
• Stockholder proposals for the 2026 Annual Meeting must be received by November 7, 2025.

Sentiment

Score: 7

Explanation: The document is a standard proxy statement, which is generally neutral in tone. The information is presented in a factual and objective manner, with no significant positive or negative indicators.

Positives

• The document provides clear instructions for stockholders to vote by proxy, either online, by phone, or by mail.
• The Board of Directors is recommending a clear course of action for stockholders to follow.
• The Audit Committee has reviewed the Funds audited financial statements with management and PwC.
• The Audit Committee has received written confirmation from PwC that it is independent.

Risks

• If a quorum is not present, the meeting may be adjourned to permit further solicitation of proxies.
• If stockholders do not provide specific voting instructions, their shares may be voted in a manner they may not intend.
• The MCSAA may restrict the voting rights of holders of control shares.
• The Board acknowledges that not all risks can be identified or mitigated, and risk management oversight is subject to limitations.

Future Outlook

The document outlines the upcoming Annual Meeting and the matters to be voted on, but does not provide specific forward-looking statements regarding the Funds future performance or strategy.

Industry Context

This is a standard proxy statement for a registered investment company, covering routine matters such as director elections and auditor ratification. The document reflects standard corporate governance practices within the investment management industry.

Comparison to Industry Standards

• The director compensation levels appear to be within the typical range for closed-end funds of similar size and complexity.
• The audit and tax fees paid to PwC are consistent with those paid by other investment companies for similar services.
• The structure of the Board, with a majority of independent directors and various committees, aligns with industry best practices for corporate governance in investment companies.
• The disclosure of beneficial ownership by major stockholders is a standard requirement and provides transparency regarding the Funds ownership structure.

Management Changes

Stakeholder Impact

• Stockholders have the opportunity to vote on important matters related to the Funds governance and operations.
• The election of directors and ratification of the auditor can impact the Funds oversight and financial reporting.
• The Funds performance and management affect the value of stockholders investments.

Next Steps

• Stockholders should review the proxy materials and vote on the proposals.
• The Fund will hold its Annual Meeting on April 14, 2025.
• The Board will consider the outcome of the votes on the proposals.
• The Fund will prepare and distribute its annual report to stockholders.

Key Dates