|
|
For Immediate Release
Contact:
Ellen E. Terry, President
Telephone: 617-263-6400
www.newamerica-hyb.com
THE NEW AMERICA HIGH INCOME FUND, INC. ANNOUNCES ELECTION TO OPT IN TO MARYLAND CONTROL SHARE ACQUISITION ACT
Boston, Massachusetts, February 16, 2021 -- The board of directors (the "Board") of The New America High Income Fund, Inc. (the "Fund") announced that the Fund has elected to be subject to the Maryland Control Share Acquisition Act (the "MCSAA"), effective immediately.
The Board believes that electing to be subject to the MCSAA protects the interests of the Fund. Maryland lawmakers instituted the MCSAA to limit the ability of any single stockholder to exert undue influence in pursuit of short-term gains at the expense of long-term value for Fund stockholders and the Fund's ability to achieve its investment objective.
The election to become subject to the MCSAA limits the ability of holders of "control shares" to vote those shares above various threshold levels that start at 10%, unless the other stockholders of the Fund reinstate those voting rights at a meeting of stockholders as provided in the MCSAA. The by-laws for the Fund provide that the provisions of the MCSAA do not apply to the voting rights of any company that, in accordance with the Investment Company Act of 1940 or Securities and Exchange Commission ("SEC") exemptive order or other regulatory relief or guidance, votes Fund shares held by it in the same proportion as the vote of all other holders of Fund shares.
The above description of the MCSAA is only a high-level summary and does not purport to be complete. Investors should refer to the actual provisions of the MCSAA and the Fund's by-laws for more information, including definitions of key terms, various exclusions and exemptions from the statute's scope, and the procedures by which stockholders may approve the reinstatement of voting rights to holders of "control shares."
About the Fund
The Fund is a diversified, closed-end management investment company with a leveraged capital structure. The Fund's investment adviser is T. Rowe Price Associates, Inc. ("T. Rowe Price"). As of December 31, 2020, T. Rowe Price and its affiliates managed approximately $1.47 trillion of assets, including approximately $22 billion of "high yield" investments. T. Rowe Price has provided investment advisory services to investment companies since 1937.
The Fund has released updated portfolio data, which can be found on the Fund's website at www.newamerica-hyb.com. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC's website at www.sec.gov and on the Fund's website.
Forward-Looking Statements
Except for any historical information and discussions contained herein, statements contained in this news release constitute forward-looking statements. These statements may involve a number of risks, uncertainties and other factors that could cause actual results to differ materially, including the performance of financial markets, the investment performance of the Fund, general economic conditions, future acquisitions, competitive conditions and government regulations, including changes in tax laws. Readers should carefully consider such factors. Further, such forward-looking statements speak only on the date at which such statements are made. The Fund undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statement.
This material has been distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. No part of this material may be reproduced in any form, or referred to in any other publication, without express written permission.
View other press releases:
January 2, 2025
December 2, 2024
November 20, 2024
November 1, 2024
October 1, 2024
September 3, 2024
August 8, 2024
August 1, 2024
July 1, 2024
June 3, 2024
May 1, 2024
April 1, 2024
March 1, 2024
February 1, 2024
December 18, 2023
December 1, 2023
November 1, 2023
October 2, 2023
September 1, 2023
August 1, 2023
July 3, 2023
June 1, 2023
May 1, 2023
April 3, 2023
March 1, 2023
December 19, 2022
December 1, 2022
November 1, 2022
October 3, 2022
September 1, 2022
August 1, 2022
July 1, 2022
June 1, 2022
May 2, 2022
April 1, 2022
March 1, 2022
December 20, 2021
December 1, 2021
November 1, 2021
October 1, 2021
September 1, 2021
August 2, 2021
July 1, 2021
June 1, 2021
May 3, 2021
April 1, 2021
March 1, 2021
December 18, 2020
December 1, 2020
November 2, 2020
October 1, 2020
September 1, 2020
August 3, 2020
July 1, 2020
June 1, 2020
May 1, 2020
April 17, 2020
March 30, 2020
March 2, 2020
December 16, 2019
December 2, 2019
November 1, 2019
October 1, 2019
September 3, 2019
August 1, 2019
July 1, 2019
June 3, 2019
April 29, 2019
March 27, 2019
March 1, 2019
December 17, 2018
December 3, 2018
November 1, 2018
October 1, 2018
September 4, 2018
August 1, 2018
July 2, 2018
June 1, 2018
May 1, 2018
April 2, 2018
March 1, 2018
December 18, 2017
December 1, 2017
November 1, 2017
October 2, 2017
September 1, 2017
August 1, 2017
July 3, 2017
June 1, 2017
May 1, 2017
April 3, 2017
March 1, 2017
December 19, 2016
December 1, 2016
November 1, 2016
October 3, 2016
September 1, 2016
August 1, 2016
July 1, 2016
June 1, 2016
May 2, 2016
April 1, 2016
March 1, 2016
December 1, 2015
November 2, 2015
October 1, 2015
September 1, 2015
August 3, 2015
July 1, 2015
June 1, 2015
May 1, 2015
April 1, 2015
March 2, 2015
December 18, 2014
December 1, 2014
November 3, 2014
October 1, 2014
September 2, 2014
August 1, 2014
July 1, 2014
June 2, 2014
May 1, 2014
April 1, 2014
March 3, 2014
December 19, 2013
December 2, 2013
November 1, 2013
October 1, 2013
September 3, 2013
August 1, 2013
July 1, 2013
June 3, 2013
May 1, 2013
April 1, 2013
March 1, 2013
December 21, 2012
December 18, 2012
December 3, 2012
November 14, 2012
November 1, 2012
October 11, 2012
October 1, 2012
September 4, 2012
August 1, 2012
July 17, 2012
July 2, 2012
June 1, 2012
May 10, 2012
May 1, 2012
April 3, 2012
March 1, 2012
December 19, 2011
December 1, 2011
November 1, 2011
September 1, 2011
August 1, 2011
July 1, 2011
June 1, 2011
May 2, 2011
April 1, 2011
March 1, 2011
December 1, 2010
November 2, 2010
October 4, 2010
September 2, 2010
August 4, 2010
July 2, 2010
June 2, 2010
May 5, 2010
April 2, 2010
March 2, 2010
December 21, 2009
December 2, 2009
November 2, 2009
October 1, 2009
September 1, 2009
August 3, 2009
July 1, 2009
June 1, 2009
May 1, 2009
April 1, 2009
March 2, 2009
January 29, 2009
January 20, 2009
December 19, 2008
December 1, 2008
November 19, 2008
October 31, 2008
October 1, 2008
September 2, 2008
August 1, 2008
July 1, 2008
June 2, 2008
May 1, 2008
April 1, 2008
February 29, 2008
December 18, 2007
December 4, 2007
November 1, 2007
October 1, 2007
September 18, 2007
September 12, 2007
September 4, 2007
August 16, 2007
July 24, 2007
July 12, 2007
July 2, 2007
June 1, 2007
May 15, 2007
May 1, 2007
April 2, 2007
March 1, 2007
December 18, 2006
December 1, 2006
November 1, 2006
October 2, 2006
September 6, 2006
August 1, 2006
July 5, 2006
June 1, 2006
May 1, 2006
April 3, 2006
March 1, 2006
December 20, 2005
December 1, 2005
November 2, 2005
October 5, 2005
September 1, 2005
August 1, 2005
July 5, 2005
June 2, 2005
May 4, 2005
April 4, 2005
March 2, 2005
December 21, 2004
December 3, 2004
November 5, 2004
October 5, 2004
September 3, 2004
August 3, 2004
July 1, 2004
June 3, 2004
May 3, 2004
April 2, 2004
March 3, 2004
December 22, 2003
December 1, 2003
November 4, 2003
October 17, 2003
October 2, 2003
September 3, 2003
August 19, 2003
August 19, 2003
August 4, 2003
July 21, 2003
July 11, 2003
July 3, 2003
June 3, 2003
May 23, 2003
May 5, 2003
April 3, 2003
March 3, 2003
|