Every material Form 8-K BLACKROCK VIRGINIA MUNICIPAL BOND TRUST filed with the SEC in 2011, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
On June 15, 2011, BlackRock Virginia Municipal Bond Trust and other BlackRock closed-end funds reached an agreement with Karpus Management and the Bulldog/Brooklyn Funds, which withdrew their director nominations and shareholder proposals for the 2011 annual meetings. The agreement includes a standstill on shareholder activism through 2014, a possible board seat tied to preferred share redemptions for the 2012 meeting, and reimbursement of up to $150,000 in fees and expenses for the Funds' 2011 proxy dispute and the Delaware litigation.
Karpus and the Bulldog/Brooklyn Funds withdrew their 2011 director nominations and shareholder proposals and agreed to vote in favor of board nominees at the 2011 and 2012 annual meetings.
Standstill restrictions run until the day after the Funds' 2014 annual meeting of shareholders.
If all auction rate preferred shares are not redeemed two weeks before the 2012 proxy mailing, Karpus or the Bulldog/Brooklyn Funds may designate one director nominee.
The Funds and other BlackRock funds will reimburse up to $150,000 in aggregate fees and expenses, and the Delaware Chancery Court litigation is to be dismissed without prejudice.
BlackRock Virginia Municipal Bond Trust (BHV) said its 2011 Annual Meeting of Shareholders is scheduled for July 28, 2011, and set deadlines for shareholder proposals and director nominations. The filing is administrative and does not report financial results or a change in the fund's operations.
2011 Annual Meeting of Shareholders scheduled for July 28, 2011
Rule 14a-8 shareholder proposals due at principal executive offices by February 28, 2011
Other stockholder nominations or proposals must be received by February 14, 2011 to be considered timely
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