Every material Form 8-K ABERDEEN INTERMEDIATE INCOME FUND has filed with the SEC since December 28, 2007, 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 NYSE deemed the MFS Intermediate Income Trust (NYSE: MIN) non-compliant with its corporate governance listing standards because the fund did not hold its 2008 annual meeting to elect Trustees. The fund strongly disagrees, saying the meeting was convened on October 9, 2008, but adjourned for lack of a quorum after Karpus Investment Management did not attend or vote its solicited proxies.
NYSE determination dated November 4, 2008, based on failure to hold the 2008 annual meeting to elect Trustees
Approximately 41% of shares were represented when the meeting convened; over 50% was needed for a quorum
Incumbent Trustees received about 42 million FOR votes and fewer than 5 million WITHHOLD votes among represented shares
Trustees remain in office until successors are elected; the next annual meeting is expected in 2009
The trust's Board of Trustees approved changes to its investment objective and policies, effective December 21, 2007. The objective moves from preserving capital and providing current income to seeking high current income, with capital appreciation as a secondary consideration, and the filing lists looser limits on investments, derivatives and maturity.
Objective changed from "preserve capital and provide current income" to "high current income but may also consider capital appreciation", effective December 21, 2007.
Average portfolio maturity range of 3 to 7 years changed to average portfolio life of 3 to 10 years.
Beginning January 2008, the fund seeks a monthly distribution at a fixed rate of up to 8.50% per year.
Percentage limits on certain investments and some derivatives limits were removed.
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 ABERDEEN INTERMEDIATE INCOME FUND filing is on SEC EDGAR ↗. 8-K briefs of other companies →