WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC. (HIO)
HIO 8-K filings, explained
Every material Form 8-K WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC. has filed with the SEC since November 16, 2015, 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.
The fund disclosed that Nisha Kumar was appointed a director effective January 1, 2019, and that directors Dr. Riordan Roett and Leslie H. Gelb retired effective December 31, 2018. The changes apply to the board of each closed-end fund advised by Legg Mason Partners Fund Advisors, LLC, and the filing describes them as board appointments and retirements rather than changes to fund management or strategy.
Nisha Kumar appointed director effective January 1, 2019; she will sit on the Audit, Nominating, Compensation, Pricing and Valuation Committees
Dr. Riordan Roett and Leslie H. Gelb retired as directors effective December 31, 2018
Kumar has been Managing Director, CFO and Chief Compliance Officer of Greenbriar Equity Group, LP since 2011
Announced in a press release dated January 2, 2019, filed as Exhibit 99.1
On August 14, 2017, KPMG resigned as the independent auditor of Western Asset High Income Opportunity Fund at the fund's request, and PricewaterhouseCoopers was engaged for the fiscal year ending September 30, 2017. The filing states that KPMG's reports on the fund's two most recent years contained no adverse opinion, disclaimer, or qualification, and that there were no disagreements or reportable events.
KPMG resigned on August 14, 2017, at the fund's request.
PwC was approved by the Board on August 10, 2017, effective August 14, 2017, for the fiscal year ending September 30, 2017.
The filing states the change does not reflect any disagreement or dissatisfaction with KPMG's performance.
KPMG's letter dated August 16, 2017 is filed as Exhibit 16.1.
The boards of Western Asset High Income Opportunity Fund (HIO) and Western Asset Managed High Income Fund (MHY) approved a proposal to merge MHY into HIO, subject to approval by stockholders of both funds. If approved, the merger is anticipated to occur during the second quarter of 2016, and MHY stockholders would receive HIO common stock based on each fund's net asset value per share.
Merger proposal approved by each fund's board; requires approval by stockholders of both funds
Anticipated completion: second quarter of 2016, if approved
As of September 30, 2015, MHY had total assets of approximately $253 million and HIO approximately $464 million
Boards cited identical investment objectives, economies of scale and enhanced market liquidity as reasons for the merger
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC. filing is on SEC EDGAR ↗. 8-K briefs of other companies →