The Swiss Helvetia Fund, Inc. Announces Preliminary Results Of 2017 Annual Stockholder Meeting

NEW YORK, July 7, 2017 /PRNewswire/ -- The Swiss Helvetia Fund, Inc. (NYSE: SWZ), a non-diversified registered closed-end investment company, announced today that First Coast Results, Inc., the independent inspector of elections for the Fund's Annual Meeting of Stockholders held on June 27, 2017, has provided preliminary results for the votes regarding the proposals presented at the Annual Meeting.  There were 25,313,872 shares of the Fund's common stock outstanding and entitled to vote at the Annual Meeting.  Preliminary voting results are summarized below.

Director Elections

Based on the Fund's plurality voting standard for the election of directors, Mr. Sell and Ms. Hoysradt have been elected by stockholders to serve on the Fund's Board of Directors.  As previously announced, Mr. Dakos did not satisfy the director qualification requirements outlined in the Fund's By-Laws and, as a result, Mr. Dakos was not eligible to be nominated and, therefore, has not been seated as a Class II Director.  The Fund expects that its Board of Directors will meet, at an appropriate time, to consider Mr. Dakos' eligibility to serve on the Fund's Board of Directors.

Other Proposals

Stockholders approved the ratification of the selection of Tait, Weller & Baker, LLP as the Fund's independent registered public accounting firm for the year ending December 31, 2017:

Stockholders approved an amendment to the Fund's Certificate of Incorporation to eliminate the classification of the Fund's Board of Directors: 

Stockholders did not approve the non-binding stockholder proposal recommending that the Fund's Board of Directors authorize a self-tender offer for all of the outstanding common stock of the Fund:

The stockholder proposal to terminate the Fund's investment advisory contracts, which was predicated in part on the approval of the non-binding tender offer proposal, was withdrawn by its proponent at the Annual Meeting.  As a result, no votes were taken on that proposal.

Stockholders did not approve the non-binding stockholder proposals for the continuation of the 2002 amendments to the Fund's By-Laws that (i) established Director qualifications and (ii) required approval by holders of 75% of the Fund's outstanding shares to amend the Fund's By-Laws:

Director Qualifications Provision

75% Amendment Provision

The Fund's Board of Directors will consider the results of these other proposals in due course.

The Fund's proxy materials provide additional information about these proposals.  The Fund will announce any changes in the outcome of the proposals once it receives final voting results from First Coast Results, Inc.  The Fund also will post the final voting results on its website (www.swzfund.com) and will provide similar information in its Semi-Annual Report to Stockholders for the six-month period ended June 30, 2017.

About The Swiss Helvetia Fund, Inc.

The Fund (www.swzfund.com) is a non-diversified, closed-end investment company seeking long-term capital appreciation through investment in equity and equity-linked securities of Swiss companies.  Its shares are listed on the NYSE under the symbol "SWZ."  The Fund seeks to achieve its investment objective by investing generally in Swiss equity and equity-linked securities that are traded on a Swiss stock exchange, traded at the pre-bourse level of one or more Swiss stock exchanges, traded through a market maker or traded over the counter in Switzerland.  The Fund also may invest in Swiss equity and equity-linked securities of Swiss companies that are traded on other major European stock exchanges.

Closed-end funds, unlike open-end funds, are not continuously offered.  Typically, shares of closed-end funds are sold in the open market through a stock exchange.  Shares of closed-end funds frequently trade at a discount to net asset value.  The price of the Fund's shares is determined by a number of factors, several of which are beyond the control of the Fund.  Therefore, the Fund cannot predict whether its shares will trade at, below or above net asset value.

The Fund is managed by Schroder Investment Management North America Inc.

About Schroder Investment Management North America Inc.

Schroder Investment Management North America Inc. and Schroder Investment Management North America Limited, investment advisors registered with the U.S. SEC, are units of Schroders plc (SDR.L), a global asset management company with approximately $520.6 billion under management and administration as of March 31, 2017.  Schroder's clients include major financial institutions including banks and insurance companies, as well as local and public authorities, public and private pension funds, endowments and foundations, intermediaries and advisors, as well as high net worth individuals and retail investors.  The firm has built one of the largest networks of offices of any dedicated asset management company with more than 400 portfolio managers and analysts covering the world's investment markets, offering a comprehensive range of products and services.

Schroder Investment Management North America Inc. provides asset management products and services to clients in the U.S. and Canada.  Schroder Investment Management North America Inc. is an indirect, wholly-owned subsidiary of Schroders plc, a U.K. public company with shares listed on the London Stock Exchange.

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of the Fund's shares in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Contact:
Jennifer Brogadir
212-641-3863

SOURCE The Swiss Helvetia Fund, Inc.

Related Links

www.swzfund.com