EX-99.77.C 2 ex-77c.txt SHAREHOLDERS' MEETING RESULT Exhibit 77(c) A special meeting of shareholders of the Pilgrim Funds (listed below) was held in Phoenix, Arizona on August 18,2000. A brief description of each matter voted upon as well as the results are outlined below:
SHARES SHARES VOTED AGAINST SHARES BROKER VOTED FOR OR WITHHELD ABSTAINED NON-VOTE TOTAL --------- ----------- --------- -------- ---------- 1. To approve new Investment Management Agreements between the Funds and Pilgrim Investments, Inc. ("Pilgrim"), to reflect the acquisition of Pilgrim by ING Groep N.V. ("ING"), with no change in the advisory fees payable to Pilgrim; Pilgrim Balanced Fund 5,852,446 244,621 -- -- 6,097,067 Pilgrim Bank and Thrift Fund 17,395,838 722,384 -- -- 18,118,222 Pilgrim Convertible Fund 14,114,046 320,397 -- -- 14,434,443 Pilgrim Government Securities Income Fund 7,930,229 550,166 -- -- 8,480,395 Pilgrim High Yield Fund 48,691,093 1,967,797 -- -- 50,658,890 Pilgrim High Yield Fund II 15,876,094 456,032 -- -- 16,332,126 Pilgrim LargeCap Growth Fund 13,427,843 254,416 -- -- 13,682,259 Pilgrim LargeCap Leaders Fund 1,934,352 45,755 -- -- 1,980,107 Pilgrim MagnaCap Fund 16,148,978 792,273 -- -- 16,941,251 Pilgrim MidCap Growth Fund 16,788,788 344,196 -- -- 17,132,984 Pilgrim MidCap Value Fund 1,626,116 37,455 -- -- 1,663,571 Pilgrim Money Market Fund 58,049,711 255,420 -- -- 58,305,131 Pilgrim SmallCap Growth Fund 23,486,117 435,892 -- -- 23,922,009 Pilgrim Strategic Income Fund 701,286 16,777 -- -- 718,063 2. For shareholders of Pilgrim Convertible Fund and Pilgrim LargeCap Growth Fund to approve a new Sub-Advisory Agreement between Pilgrim and Nicholas-Applegate Capital Management ("NACM") to reflect the acquisition of Pilgrim by ING, with no change in the sub-advisory fees payable to NACM. Pilgrim Convertible Fund 14,115,264 319,179 -- -- 14,434,443 Pilgrim LargeCap Growth Fund 13,429,517 252,742 -- -- 13,682,259