Saba Capita Submits a Shareholder Proposal to Clough Global Dividend and Income Fund
February 13, 2017 at 02:13 pm EST
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On February 10, 2017, Saba Capital Management, L.P. submitted to Clough Global Dividend and Income Fund a proposal pursuant to Rule 14a-8 promulgated under the Securities Exchange Act of 1934. Saba Capital stated that the proposal requests that the Board of Trustees of the Fund take all necessary steps in its power to declassify the Board so that all directors are elected on an annual basis starting at the next annual meeting of shareholders.
Clough Global Dividend and Income Fund (the Fund) is a closed-end management investment company. The Fund's investment objective is to provide a high level of total return. It seeks to invest at least 80% of its net assets, including any borrowings for investment purposes, in equity securities in both United States and non-United States markets. It invests in a managed mix of equity and debt securities. The Fund may not invest more than 33% of its total assets in securities (including equity and fixed income securities) of governments and companies in emerging markets. The Fund also invest a portion of its assets in real estate investment trusts (REITs). It may not invest more than 10% of its total assets in debt securities rated below investment grade. In addition to shorting to hedge equity risk, the Fund may utilize instruments including, exchange traded funds (ETFs), derivative positions and U.S. Treasury securities. Clough Capital Partners L.P. is the Fund's investment adviser.
CLOUGH GLOBAL DIVIDEND AND INCOME FUND 
