The European Equity Fund, Inc. (NYSE: EEA) announced today the outcomes of its Annual Meeting of Stockholders convened on June 27, 2024.
Both Class I Directors nominated by the Board of Directors, Ms. Hepsen Uzcan and Mr. Christian M. Zügel, were successfully elected to serve a three-year term until their successors are duly elected and qualified. Additionally, stockholders ratified the appointment of Ernst & Young LLP as the independent auditors for the Fund’s fiscal year 2024. Furthermore, stockholders approved a proposal requesting the Fund to take necessary steps to declassify the Board of Directors.
A copy of the portfolio manager’s presentation from the meeting is accessible on the Fund’s website at www.dws.com.
Important Information
The Fund maintains a diversified portfolio primarily focused on equity securities of European domiciled issuers, thereby increasing exposure to developments in the region. Investing in foreign securities entails risks such as currency fluctuations, political and economic changes, and market risks. Funds concentrating in specific market segments or geographical regions are generally more volatile compared to those with broader investments.
Closed-end funds, unlike open-end funds, are not continuously offered. They undergo a one-time public offering and are subsequently traded in the open market on stock exchanges. The market price of closed-end fund shares is influenced by various factors, many of which are beyond the fund’s control, leading to fluctuations in share prices relative to net asset value.
Global uncertainties including war, terrorism, sanctions, economic volatility, trade disputes, public health crises, and geopolitical events have historically disrupted global economies and markets, potentially increasing market volatility and adversely impacting the Fund and its investments.
The imposition of sanctions on Russia by the European Union, the United States, and other countries in response to Russian military actions has adversely affected Russian individuals, issuers, and the economy. Reciprocally, Russia has imposed sanctions affecting Western entities. These sanctions have significant adverse effects on the Russian economy and potentially on economies in Central and Eastern Europe. Continued sanctions or new sanctions could materially affect the value of the Fund’s portfolios.
This press release does not constitute an offer to sell or a solicitation to buy securities, nor is there any sale of securities in any jurisdiction where such offer, solicitation, or sale would be unlawful without prior registration or qualification under applicable laws.
Certain statements in this release may be forward-looking, using words like “expect,” “anticipate,” “believe,” “intend,” and similar expressions. These statements reflect current beliefs of management based on available information at the time, concerning plans and expectations. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those expressed or implied in such statements. Management undertakes no obligation to update or revise any forward-looking statements, whether due to new information, future events, or otherwise. Factors that could cause actual results to differ materially from forward-looking statements include adverse changes in market and economic conditions, legal and regulatory developments, and other risks and uncertainties, including public health crises, geopolitical events, war, terrorism, and trade disputes.”
