Form SC TO-C Delaware Enhanced Global Filed by: Delaware Enhanced Global Dividend & Income Fund
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MAY 19, 2022
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE TO
ISSUER TENDER OFFER STATEMENT
UNDER SECTION 13(e)(1) OF THE
SECURITIES EXCHANGE ACT OF 1934
DELAWARE ENHANCED GLOBAL DIVIDEND AND INCOME FUND
(Name of Subject Company)
DELAWARE ENHANCED GLOBAL DIVIDEND AND INCOME FUND
(Name of Filing Person (Issuer))
COMMON SHARES, NO PAR VALUE
(Title of Class of Securities)
246060107
(CUSIP Number of Class of Securities)
David F. Connor, Esq., Secretary
Delaware Enhanced Global Dividend and Income Fund
100 Independence, 610 Market Street
Philadelphia, Pennsylvania 19106-2354
800-523-1918
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications on Behalf of Filing Person)
CALCULATION OF FILING FEE
TRANSACTION VALUATION*
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AMOUNT OF FILING FEE
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None
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*Set forth the amount on which the filing fee is calculated and state how it was determined.
This filing relates solely to preliminary communications made before the commencement of a tender offer.
/ /
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Check box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
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Amount Previously Paid:
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Form or Registration No.:
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Filing Party:
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Date Filed:
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/X/
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Check the box if the filing relates solely to preliminary communications made before the commencement of a tender offer.
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Check the appropriate boxes below to designate any transactions to which the statement relates:
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/ /
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third-party tender offer subject to Rule 14d-1.
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/X/
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issuer tender offer subject to Rule 13e-4.
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/ /
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going-private transaction subject to Rule 13e-3.
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/ /
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amendment to Schedule 13D under Rule 13d-2.
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Check the following box if the filing is a final amendment reporting the results of the tender offer: / /
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Press release
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PHILADELPHIA, May 19, 2022
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For immediate release
Delaware Enhanced Global Dividend and Income Fund announces self-tender offer for up to five percent of its shares
Today, Delaware Enhanced Global Dividend and Income Fund (the “Fund”), a New York Stock Exchange–listed closed-end fund trading under the symbol “DEX,” announced that its Board of Trustees has authorized an issuer tender offer to purchase for
cash up to 558,998 of its common shares, representing five percent of its issued and outstanding common shares, without par value. The tender offer will commence on Wednesday, June 1, 2022, and will expire, unless extended, at 11:59 p.m., New York
City time, on Thursday, June 30, (1) purchases will be made at a price per share equal to 98% of the Fund’s net asset value per share as of the close of trading on the first business day after the expiration of the offer; and (2) if more shares are
tendered than the amount the Board has authorized to purchase, the Fund will purchase a number of shares equal to the offer amount on a prorated basis.
The Fund’s common shares have recently traded at a discount to their net asset value per share. During the pendency of the tender offer, the current net asset value per share will be available by telephone at 888 605-8334 or on the Fund’s
website at delawarefunds.com/closed-end.
The Fund’s primary investment objective is to seek current income, with a secondary objective of capital appreciation. The Fund invests globally in dividend-paying or income-generating securities across multiple asset classes, including but not
limited to: equity securities of large, well-established companies; securities issued by real estate companies (including real estate investment trusts and real estate industry operating companies); debt securities (such as 2022. Subject to various
terms and conditions described in offering materials to be distributed to shareholders: government bonds; investment grade and high risk, high yield corporate bonds; and convertible bonds); and emerging market securities. The Fund also uses
enhanced income strategies by engaging in dividend capture trading; option overwriting; and realization of gains on the sale of securities, dividend growth, and currency forwards. There is no assurance that the Fund will achieve its investment
objectives.
Under normal market conditions, the Fund will invest: (1) at most 60% of its net assets in securities of U.S. issuers; and (2) at least 40% of its net assets in securities of non-U.S. issuers, unless market conditions are not deemed favorable by
the Manager, in which case, the Fund would invest at least 30% of its net assets in securities of non-U.S. issuers; and 3) up to 25% of its net assets in securities issued by real estate companies (including real estate investment trusts and real
estate industry operating companies). In addition, the Fund utilizes leveraging techniques in an attempt to obtain higher return for the Fund.
The Fund has implemented a managed distribution policy. Under the policy, the Fund is managed with a goal of generating as much of the distribution as possible from net investment income and short-term capital gains.
The balance of the distribution will then come from long-term capital gains to the extent permitted, and if necessary, a return of capital. A return of capital may occur for example, when some or all of the money that you invested in the Fund
is paid back to you. A return of capital distribution does not necessarily reflect the Fund’s investment performance and should not be confused with ‘yield’ or ‘income’. Even though the Fund may realize current year capital gains, such gains may
be offset, in whole or in part, by the Fund’s capital loss carryovers from prior years.
Under the Fund’s managed distribution policy, the Fund makes monthly distributions to common shareholders at a targeted annual distribution rate of 7.0% of the Fund’s average NAV per share. The Fund will calculate the average NAV per share
from the previous three full months immediately prior to the distribution based on the number of business days in those three months on which the NAV is calculated. The distribution will be calculated as 7.0% of the prior three month’s average
NAV per share, divided by 12. The Fund will generally distribute amounts necessary to satisfy the Fund’s managed distribution policy and the requirements prescribed by excise tax rules and Subchapter M of the Internal Revenue Code. This
distribution methodology is intended to provide shareholders with a consistent, but not guaranteed, income stream and a targeted annual distribution rate and is intended to narrow any discount between the market price and the NAV of the Fund’s
common shares, but there is no assurance that the policy will be successful in doing so. The methodology for determining monthly distributions under the Fund’s managed distribution policy will be reviewed at least annually by the Fund’s Board of
Trustees, and the Fund will continue to evaluate its distribution in light of ongoing market conditions.
Shareholders are advised to read the offer to purchase when it is available, as it contains important information.
The offer to purchase and other documents filed by the Fund with the U.S. Securities and Exchange Commission (SEC), including the Fund’s annual report for the fiscal year ended November 30, 2021, are or will be
available without cost at the Commission’s website (sec.gov) or by calling the Fund’s Information Agent.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager that aims to deliver positive impact for everyone. Trusted by institutions, pension funds, governments, and individuals to manage more than $US545 billion in assets globally,1
we provide access to specialist investment expertise across a range of capabilities including fixed income, equities, multi-asset solutions, private credit, infrastructure, renewables, natural assets, real estate, and transportation finance.
Advisory services are provided by Delaware Management Company, a series of Macquarie Investment Management Business Trust, a registered investment advisor. Macquarie Asset Management is part of Macquarie Group, a diversified financial group
providing clients with asset management, finance, banking, advisory and risk and capital solutions across debt, equity, and commodities. Founded in 1969, Macquarie Group employs approximately 16,400 people in 31 markets and is listed on the
Australian Securities Exchange. For more information about Delaware Funds by Macquarie®, visit delawarefunds.com or call 800 523-1918.
Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this material is not an authorised deposit-taking institution for the purposes of the Banking Act 1959
(Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations
of these other Macquarie Group entities. In addition, if this document relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of
Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
1 As of December 31, 2021
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delawarefunds.com
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Contacts
Investors
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Media contacts
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Georgeson LLC (during pendency of the tender offer)
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Sarah Stein
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888 605-8334
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212 231-0323
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delawarefunds.com/closed-end
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Lee Lubarsky
347 302-3000
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© 2022 Macquarie Management Holdings, Inc.
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delawarefunds.com
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