Bexil Corporation Announces Transaction Agreement
09 Novembro 2010 - 7:48PM
Marketwired
Bexil Corporation (PINKSHEETS: BXLC) today announced that it has
entered into an agreement (the "Transaction Agreement") with
Chartwell Investment Partners ("Chartwell"), the investment adviser
to Chartwell Dividend & Income Fund (the "Fund"), to facilitate
the transfer of the investment management services and
responsibilities for the Fund, together with certain assets and
transitional services related thereto, to Bexil Advisers LLC
("Bexil Advisers"), a wholly owned subsidiary of Bexil.
The Board of Directors (the "Board") of the Fund today announced
that it had approved a new investment advisory agreement (the "New
Advisory Agreement") between the Fund and Bexil Advisers, subject
to stockholder approval and other conditions. The Board also
nominated a new slate of directors (the "Director Nominees") to be
elected by the stockholders of the Fund. Each of the Director
Nominees currently serves on the boards of various registered funds
advised by affiliates of Bexil Advisers. Chartwell will continue to
manage the Fund until, and will help facilitate the transition of
advisory services for the Fund to Bexil Advisers upon, receipt of
stockholder approval of both the New Advisory Agreement and
election of the Director Nominees, and satisfaction of the other
conditions of the Transaction Agreement with Bexil and Bexil
Advisers.
The Board called two special meetings of stockholders of the
Fund to be held on December 29, 2010. The first special meeting is
called to seek approval of the New Advisory Agreement. The second
special meeting is called for the election of the Director
Nominees. The Board has fixed the close of business on November 19,
2010 as the record date for each meeting and any adjournments or
postponements thereof. The Fund will not bear any of costs or
expenses associated with the preparation of the proxy statement or
the solicitation of stockholder votes.
This press release is neither an offer to sell,
nor a solicitation of an offer to buy, shares of the Fund, nor is
it a solicitation of any proxy.
Bexil Corporation (PINKSHEETS: BXLC) is a holding company. To
learn more, please visit www.bexil.com. Bexil Corporation is an
affiliate of Winmill & Co. Incorporated (PINKSHEETS: WNMLA),
which is engaged through subsidiaries in the investment management
of registered investment companies.
Chartwell is an employee-owned firm, founded in 1997, that is
dedicated solely to the investment advisory business. The firm is a
quality-based equity and fixed income manager with a disciplined,
team-oriented investment process. Chartwell maintains a firm-wide
commitment to fundamental research. For Fund stockholder related
questions, please contact Chartwell at 610.296.1400. You may also
visit http://www.chartwellip.com for more information about
Chartwell and its products and services.
The Fund is a closed-end diversified investment management
company whose objective is to seek high current income by
investing, under normal circumstances, at least 50% of its total
assets in income-generating equity securities, including dividend
paying common stocks, convertible securities, preferred stocks and
other equity-related securities. In addition, the Fund may invest
in non-convertible debt securities, consisting primarily of
corporate bonds. For more information about the Fund, please visit
http://www.chartwellip.com/cwf.html.
THE FUND, ITS DIRECTORS AND EXECUTIVE OFFICERS, AND THE DIRECTOR
NOMINEES, MAY BE DEEMED TO BE PARTICIPANTS IN THE FUND'S
SOLICITATION OF PROXIES FOR THE SPECIAL MEETINGS OF STOCKHOLDERS
(THE "MEETINGS") DESCRIBED ABOVE. INFORMATION REGARDING THE
INTERESTS OF THESE DIRECTORS AND EXECUTIVE OFFICERS, AND THE
DIRECTOR NOMINEES IN THE SOLICITATION WILL BE INCLUDED IN THE PROXY
STATEMENT FILED BY THE FUND WITH THE SECURITIES AND EXCHANGE
COMMISSION (THE "SEC") IN CONNECTION WITH THE MEETINGS.
THE FUND STRONGLY ADVISES ALL STOCKHOLDERS TO READ THE PROXY
STATEMENT AND OTHER PROXY MATERIALS AS THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION. PROXY MATERIALS
WILL BE AVAILABLE AT NO CHARGE ON THE SEC'S WEBSITE AT
HTTP://WWW.SEC.GOV.
Contact: Thomas Winmill President 1-212-785-0400, ext. 222 Email
Contact www.bexil.com
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