EX-99.77C VOTES 4 votes.htm MATTERS SUBMITTED TO A VOTE OF SECURITY HOLDERS votes.htm
 
Sub-Item 77C:  Matters Submitted to a Vote of Security Holders

Annual meeting of shareholders held on December 7, 2011

The Fund held an annual meeting of shareholders (the “Meeting”) on December 7, 2011 to vote on the following matters:

(1)  
To elect six directors to serve until the annual meeting of stockholders in 2012 and until their successors are elected and qualify or until they resign or are otherwise removed;
(2)  
To instruct the Adviser to vote proxies received by the Fund from any closed-end investment company in the Fund’s portfolio on any proposal (including the election of directors) in a manner which the Adviser reasonably determines is likely to favorably impact the discount of such investment company’s market price as compared to its net asset value.

Quorum

The presence, in person or by proxy, of shareholders entitled to cast a majority of the votes entitled to be cast at the Meeting (i.e., the presence of a majority of the shares outstanding on the record date of October 21, 2011) was necessary to constitute a quorum for the transaction of business.  At the Meeting, the holders of approximately 93.16% of the common stock outstanding as of the record date were represented in person or by proxy (6,219,885 votes), thus constituting a quorum for the matters to be voted upon by all shareholders at the Meeting.

The actual voting results for the agenda items were as follows:

Proposal to elect James Chadwick as a director:

FOR
% of
Quorum
% of
O/S
  
WITHHELD
5,139,593
82.63%
76.98%
  
1,080,293

Proposal to elect Andrew Dakos as a director:

FOR
% of
Quorum
% of
O/S
  
WITHHELD
4,940,400
79.43%
74.00%
  
1,279,486

Proposal to elect Phillip Goldstein as a director:

FOR
% of
Quorum
% of
O/S
  
WITHHELD
5,826,128
93.67%
87.26%
  
393,758

Proposal to elect Ben Harris as a director:
 
 
 
 

FOR
% of
Quorum
% of
O/S
  
WITHHELD
6,033,016
97.00%
90.36%
  
186,870

Proposal to elect Gerald Hellerman as a director:

FOR
% of
Quorum
% of
O/S
  
WITHHELD
5,893,769
94.76%
88.28%
  
326,117

Proposal to elect Charles C. Walden as a director:

FOR
% of
Quorum
% of
O/S
  
WITHHELD
6,068,608
97.57%
90.90%
  
151,278


Proposal to instruct the Adviser to vote proxies received by the Fund from any closed-end investment company in the Fund’s portfolio on any proposal (including the election of directors) in a manner which the Adviser reasonably determines is likely to favorably impact the discount of such investment company’s market price as compared to its net asset value.

FOR
% of
Quorum
% of
O/S
  
WITHHELD
3,116,846
97.44%
46.68%
  
37,028


*O/S = outstanding shares