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Steel Partners Holdings Declares Regular Quarterly Distribution On its Series A Preferred Units

NEW YORK–(BUSINESS WIRE)–
Steel Partners Holdings L.P. (NYSE: SPLP), a diversified global holding company, today announced that its board of directors has declared a regular quarterly cash distribution of $.375 per unit, payable December 15, 2020, to unitholders of record as of December 1, 2020, on its 6% Series A Preferred Units, no par value (“Series A Preferred”).

Any future determination to declare distributions on its units of Series A Preferred, and any determination to pay such distributions in cash or in kind, or a combination thereof, will remain at the discretion of Steel Partners’ board of directors and will be dependent upon a number of factors, including the company’s results of operations, cash flows, financial position, and capital requirements, among others.

About Steel Partners Holdings L.P.

Steel Partners Holdings L.P. (www.steelpartners.com) is a diversified global holding company that owns and operates businesses and has significant interests in various companies, including diversified industrial products, energy, defense, supply chain management and logistics, direct marketing, banking, and youth sports.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005225/en/

Jennifer Golembeske

212-520-2300

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Posted on November 17, 2020 8:03 am

New SVP Marketing, Jaime Prieto, Joins Ontrak from WPP

New SVP Marketing, Jaime Prieto, Joins Ontrak from WPP

WPP works with 348 clients of the Fortune Global 500, all 30 of the Dow Jones 30, and 70 of the Nasdaq 100.

SANTA MONICA, Calif.–(BUSINESS WIRE)–
Ontrak, Inc. (NASDAQ: OTRK) (“Ontrak” or the “Company”), a leading AI-powered and telehealth-enabled, virtualized healthcare company, today announced the appointment of Jaime Prieto as its SVP Marketing. In this new role, Mr. Prieto will lead Ontrak Corporate and Product Marketing, reporting to Curt Medeiros, Ontrak President and COO.

Mr. Prieto brings more than 25 years of WPP brand leadership experience to Ontrak. A data-driven business growth leader, he has deep experience in positioning technology, B2B, and healthcare brands for sustained growth. After the trailblazing merger of IMS Health and Quintiles, Mr. Prieto and his team partnered with IQVIA, a world leader in using data, technology, advanced analytics and contract research services, to promote “IQVIA,” their new corporate healthcare brand. Mr. Prieto also launched the brand platform that repositioned Royal Phillips from a manufacturer of household appliances into a technology-driven healthcare business selling to large hospital groups and municipalities.

Mr. Medeiros stated: “We are delighted to welcome such an accomplished marketing leader to Ontrak and look forward to building our brand awareness and traction nationwide, now that we have signed multiple national accounts. Jaime’s deep experience in digital marketing, public relations, social channels and building iconic brands will be immensely valuable as we pursue our growth initiatives.”

Mr. Prieto added, “I’m thrilled to be joining Ontrak at such an exciting time in the company and brand’s growth. I’m inspired not just by the company mission to save and improve the lives of as many members as possible, but also by the company’s dynamic group of leaders who bring so much experience and commitment to that goal. Ontrak has a world-class story to tell and our goal is to make Ontrak solutions as valuable as possible to all of our audiences.”

About Ontrak, Inc.

Ontrak, Inc. (f/k/a Catasys, Inc.) is a leading AI and telehealth enabled, virtualized healthcare company, whose mission is to help improve the health and save the lives of as many people as possible. The company’s PRE™ (Predict-Recommend-Engage) platform predicts people whose chronic disease will improve with behavior change, recommends effective care pathways that people are willing to follow, and engages people who are not getting the care they need. By combining predictive analytics with human engagement, Ontrak delivers improved member health and validated outcomes and savings to healthcare payers.

The company’s integrated, technology-enabled Ontrak™ programs, a critical component of the PRE platform, are designed to provide healthcare solutions to members with behavioral conditions that cause or exacerbate chronic medical conditions such as diabetes, hypertension, coronary artery disease, COPD, and congestive heart failure, which result in high medical costs.

Ontrak has a unique ability to engage these members, who do not otherwise seek behavioral healthcare, leveraging proprietary enrollment capabilities built on deep insights into the drivers of care avoidance.

Ontrak integrates evidence-based psychosocial and medical interventions delivered either in-person or via telehealth, along with care coaching and in-market Community Care Coordinators who address the social and environmental determinants of health, including loneliness. The company’s programs improve member health and deliver validated cost savings to healthcare payers of more than 50 percent for enrolled members. Ontrak solutions are available to members of leading national and regional health plans in 30 states and in Washington, D.C.

Learn more at www.ontrak-inc.com

Cautionary Note Regarding Forward-Looking Statements

Except for statements of historical fact, the matters discussed in this press release are forward-looking and made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond our control, which may cause actual results to differ materially from stated expectations. These risk factors include, among others, our dependence on key personnel, the loss of which could impact our ability to manage our business and our dependence on our ability to recruit, retain and develop a large and diverse workforce; changes in regulations or issuance of new regulations or interpretations; limited operating history; our inability to execute our business plan; increase our revenue and achieve profitability; lower than anticipated eligible members under our contracts; our inability to recognize revenue; lack of outcomes and statistically significant formal research studies; difficulty enrolling new members and maintaining existing members in our programs; the risk that treatment programs might not be effective; difficulty in developing, exploiting and protecting proprietary technologies; intense competition and substantial regulation in the health care industry; the risks associated with the adequacy of our existing cash resources and our ability to continue as a going concern; our ability to raise additional capital when needed and our liquidity. Forward looking statements many include statements such as statements regardingbuilding our brand awareness and traction nationwide and our goal to make Ontrak solutions as valuable as possible to all of our audiences. You are urged to consider statements that include the words “may,” “will,” “would,” “could,” “should,” “believes,” “estimates,” “projects,” “potential,” “expects,” “plan,” “anticipates,” “intends,” “continues,” “forecast,” “designed,” “goal,” or the negative of those words or other comparable words to be uncertain and forward-looking. For a further list and description of the risks and uncertainties we face, please refer to our most recent Securities and Exchange Commission filings which are available on its website at http://www.sec.gov. Such forward-looking statements are current only as of the date they are made, and we assume no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005483/en/

Investors:

Caroline Paul

Gilmartin Group

[email protected]

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Software Technology General Health Health

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Transcat, Inc. Increases Shelf Registration to $75 million

ROCHESTER, N.Y.–(BUSINESS WIRE)–Transcat, Inc. (Nasdaq: TRNS) (“Transcat” or the “Company”), a leading provider of accredited calibration, repair, inspection and laboratory instrument services and value-added distributor of professional grade handheld test, measurement and control instrumentation, announced that it has filed a new shelf registration statement on Form S-3 with the United States Securities and Exchange Commission (“SEC”) to replace its previous shelf registration statement, which expires on December 17, 2020. The registration statement was filed on November 17, 2020 and will become effective upon successful review by the SEC.

Lee Rudow, President and Chief Executive Officer, said, “We are successfully executing on our strategy for growth and believe that having the financial flexibility to efficiently access the capital markets when needed is an important element of that strategy. In fact, we increased the size of the registration by $25 million to reflect the growth we have achieved since our original filing in 2017.”

The new shelf registration statement provides Transcat the flexibility from time to time in one or more offerings to issue various types of securities including common stock, debt securities, warrants to purchase other securities, purchase contracts and units, or any combination thereof, up to a limit of $75 million in equity securities. The Company has no immediate plans to offer or sell any securities under this shelf registration statement to the public.

The shelf registration statement relating to these securities has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Any offering of the securities covered under the shelf registration statement will be made solely by means of a prospectus and an accompanying prospectus supplement relating to that offering. A copy of the prospectus included in the registration statement may be obtained on the SEC’s website at www.sec.gov.

After the shelf registration statement becomes effective, Transcat may offer and sell securities covered by the registration statement through one or more methods of distribution, subject to market conditions and Transcat’s capital desires or needs. The terms of any offering under the shelf registration statement will be established at the time of such offering and will be described in a prospectus supplement filed with the SEC prior to completion of the offering.

ABOUT TRANSCAT

Transcat, Inc. is a leading provider of accredited calibration, repair, inspection and laboratory instrument services. The Company is focused on providing best-in-class services and products to highly regulated industries, particularly the Life Science industry, which includes pharmaceutical, biotechnology, medical device and other FDA-regulated businesses; as well as aerospace and defense, and energy and utilities. Transcat provides periodic on-site services, mobile calibration services, pickup and delivery, in-house services at its 22 Calibration Service Centers strategically located across the United States, Puerto Rico and Canada, and services at 20 imbedded customer-site locations. The breadth and depth of measurement parameters addressed by Transcat’s ISO/IEC 17025 scopes of accreditation are believed to be the best in the industry.

Transcat also operates as a leading value-added distributor that markets, sells and rents new and used national and proprietary brand instruments to customers primarily in North America. The Company believes its combined Service and Distribution segment offerings, experience, technical expertise and integrity create a unique and compelling value proposition for its customers.

Transcat’s strategy is to leverage the complementary nature of its two operating segments, its comprehensive service capabilities, strong brand, enhanced e-commerce capabilities and leading distribution platform to drive organic sales growth. The Company will also look to expand its addressable calibration market through acquisitions and capability investments to further realize the inherent leverage of its business model.

More information about Transcat can be found at: Transcat.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact and thus are subject to risks, uncertainties and assumptions. Forward-looking statements are identified by words such as “expects,” “estimates,” “projects,” “anticipates,” “believes,” “could,” “plans,” “aims” and other similar words. All statements addressing operating performance, events or developments that Transcat, Inc. expects or anticipates will occur in the future, including but not limited to statements relating to anticipated revenue, profit margins, the Company’s response to the coronavirus (COVID-19) pandemic, the commercialization of software projects, sales operations, capital expenditures, cash flows, operating income, growth strategy, segment growth, potential acquisitions, integration of acquired businesses, market position, customer preferences, outlook and changes in market conditions in the industries in which Transcat operates are forward-looking statements. Forward-looking statements should be evaluated in light of important risk factors and uncertainties. These risk factors and uncertainties include those more fully described in Transcat’s Annual Report and Quarterly Reports filed with the Securities and Exchange Commission, including under the heading entitled “Risk Factors.” Should one or more of these risks or uncertainties materialize, or should any of the Company’s underlying assumptions prove incorrect, actual results may vary materially from those currently anticipated. In addition, undue reliance should not be placed on the Company’s forward-looking statements, which speak only as of the date they are made. Except as required by law, the Company disclaims any obligation to update, correct or publicly announce any revisions to any of the forward-looking statements contained in this news release, whether as the result of new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005493/en/

Deborah K. Pawlowski

Investor Relations

716-843-3908

[email protected]

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: General Health Health Other Technology Technology Software

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Zuora Appoints Former HPE, Daimler Executive as New Chief Information Officer

REDWOOD CITY, Calif.–(BUSINESS WIRE)–Zuora, Inc. (NYSE: ZUO), the leading cloud-based subscription management platform provider, today announced a new Chief Information Officer, Paul Heard. Heard joins Zuora with 20 years of corporate IT experience, having led the enterprise transformations of multi-billion dollar companies including Micro Focus, HPE and DaimlerChrysler.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201117005554/en/

“We are focused on building an enduring software company to help propel the growth of the Subscription Economy®. Paul’s deep knowledge of scaling enterprise-wide IT transformations for multi-billion dollar organizations will help our customers win in this new era of digital business, and advance Zuora’s next phase of growth with a bold technology strategy,” said Daisy Hernandez, SVP of Strategy and Operations at Zuora.

Heard has led enterprise-scale IT transformations a number of times throughout his career. Most recently he was Digital Transformation Leader and Head of Enterprise Architecture at Micro Focus, a $3 billion revenue business and one of the world’s largest software providers. At Micro Focus, upon merging with Hewlett Packard Enterprise’s (HPE’s) software division, Heard initiated and drove the strategy and delivery of the company’s $100 million digital transformation in record time, deploying an entirely new infrastructure by replacing legacy technology applications with an ecosystem of Software-as-a-Service (SaaS) solutions. As the company carried out its merger with HPE, Heard led the enablement of a fully integrated salesforce and common employee management experience.

Prior to his role at Micro Focus, Heard was the Finance and Administration CIO at HPE, where he developed a multi-year technology roadmap for the finance organization which ultimately served as the foundation for HPE’s transformation. While at HP Inc., a $120 billion revenue business at the time, Heard was responsible for enabling the successful IT separation of HPE and HP Inc., leading a team of approximately 800 employees.

Heard also served as CIO of multi-billion dollar automotive company DaimlerChrysler UK (now Mercedes-Benz UK), where he provided strategic technology counsel to the CEO and was responsible for all end-to-end systems and technology to support a $5 billion business with over 400 dealerships in the country.

“I’ve spent my career leading challenging, large-scale IT transformations, replacing legacy technologies and processes with SaaS-based solutions and operations – and have witnessed first hand the incredible foundation for agility and scale that SaaS can offer any company,” said Heard. “As Zuora’s CIO, not only will I use my expertise to continue to build the foundation for Zuora to scale, but will showcase to the world the agile IT infrastructure needed to win in today’s Subscription Economy.”

About Zuora, Inc.

Zuora provides the leading cloud-based subscription management platform that functions as a system of record for subscription businesses across all industries. Powering the Subscription Economy®, the Zuora platform was architected specifically for dynamic, recurring subscription business models and acts as an intelligent subscription management hub that automates and orchestrates the entire subscription order-to-revenue process seamlessly across billing and revenue recognition. Zuora serves more than 1,000 companies around the world, including Box, Ford, Penske Media Corporation, Schneider Electric, Siemens, Xplornet, and Zoom. Headquartered in Silicon Valley, Zuora also operates offices around the world in the U.S., EMEA and APAC. To learn more about the Zuora platform, please visit www.zuora.com.

© 2020 Zuora, Inc. All Rights Reserved. Zuora, Subscribed, Subscription Economy, Powering the Subscription Economy, and Subscription Economy Index are trademarks or registered trademarks of Zuora, Inc. Third-party trademarks mentioned above are owned by their respective companies. Nothing in this press release should be construed to the contrary, or as an approval, endorsement or sponsorship by any third parties of Zuora, Inc. or any aspect of this press release.

SOURCE: Zuora Financial

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005554/en/

Jayne Gonzalez

[email protected]

408-348-1087

KEYWORDS: California United States North America

INDUSTRY KEYWORDS: Internet Data Management Other Technology Technology Software

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Paul Heard, CIO, Zuora (Photo: Business Wire)

Advanced Energy Launches New Scholarship Program to Increase Gender, Racial and Ethnic Diversity in STEM

Diversity scholarships to cover tuition and provide internships and professional mentoring for students from University of Colorado, Colorado State University, Colorado School of Mines, University at Buffalo and Rochester Institute of Technology

DENVER, Colo.–(BUSINESS WIRE)–Advanced Energy Industries, Inc. (Nasdaq: AEIS) – a global leader in highly engineered, precision power conversion, measurement and control solutions – today announced the launch of the Advanced Energy STEM Diversity Scholarship Program, aimed at developing emerging talent and promoting greater ethnic, racial and gender diversity in STEM (science, technology, engineering and mathematics). The annual program will begin in the 2021 academic year and will accept applications from undergraduate and post-graduate students attending five leading institutions in the field of power technologies: the University of Colorado, Colorado State University, Colorado School of Mines, University at Buffalo and Rochester Institute of Technology.

“In order to grow a workforce prepared to meet the challenges of Industry 4.0, the global technology industry faces two significant challenges: meeting the demand for qualified engineers and ensuring a diverse workforce that brings new and differentiated perspectives,” said Yuval Wasserman, chief executive officer at Advanced Energy. “Our company is addressing these challenges head-on with a program that develops students into workforce-ready professionals by providing them with academic assistance, mentoring and hands-on professional experience.”

In addition to providing a $20,000 grant toward the cost of tuition, Advanced Energy’s STEM Diversity Scholarship will provide all recipients with professional mentoring, hands-on experience and the opportunity to work on real-world projects enabling customer innovation in complex power conversion applications.

“We are excited to start mentoring the first group of diverse and talented students seeking careers in electrical engineering, physics and material science,” added Isabel Yang, senior vice president and chief technology officer, Advanced Energy. “By partnering with these universities, we are not only identifying talent that will become the future technical leaders of Advanced Energy, but also building collaborative relationships that will create new growth opportunities for everyone involved and lead to technological innovations that could drive change for industries across the globe.”

The Advanced Energy STEM Diversity Scholarship program is open to undergraduate students entering their second year and post-graduate students seeking a master’s degree or Ph.D. Students interested in being selected for the program are required to submit a formal application by January 15, 2021.

To learn more about the submission and selection process, please visit:

AE website: https://www.advancedenergy.com/stemscholarship

Scholarship brochure: https://www.advancedenergy.com/globalassets/non-resource-library-assets/en-corp-stem-diversity-scholarship.pdf

About Advanced Energy

Advanced Energy (Nasdaq: AEIS) is a global leader in the design and manufacturing of highly engineered, precision power conversion, measurement and control solutions for mission-critical applications and processes. AE’s power solutions enable customer innovation in complex applications for a wide range of industries including semiconductor equipment, industrial, manufacturing, telecommunications, data center computing and healthcare. With engineering know-how and responsive service and support around the globe, the company builds collaborative partnerships to meet technology advances, propel growth for its customers and innovate the future of power. Advanced Energy has devoted more than three decades to perfecting power for its global customers and is headquartered in Denver, Colorado, USA. For more information, visit www.advancedenergy.com.

Advanced Energy | Precision. Power. Performance.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005562/en/

Lora Wilson / Valerie Christopherson

Global Results Communications for Advanced Energy Industries, Inc.

[email protected]

+1 949.306.0276

KEYWORDS: Colorado United States North America

INDUSTRY KEYWORDS: Other Consumer Other Energy Utilities Philanthropy Energy University Consumer Foundation Education

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Legg Mason Partners Fund Advisor, LLC Announces Distributions for the Months of December 2020, January and February 2021

NEW YORK–(BUSINESS WIRE)–
Legg Mason Partners Fund Advisor, LLC announced today

that certain closed end funds have declared their distributions for the months of December 2020, January, and February 2021.

The following dates apply to the distribution schedule below:

Month	Record Date	Ex-Dividend Date	Payable Date
December	12/23/2020	12/22/2020	12/31/2020
January	1/22/2021	1/21/2021	2/1/2021
February	2/19/2021	2/18/2021	3/1/2021

Ticker	Fund Name	Month	Amount		Type	Change from Previous Distribution
HIX	Western Asset High Income Fund II Inc.	December	$0.04900		Income	–
		January	$0.04900		Income
		February	$0.04900		Income
HIO	Western Asset High Income Opportunity Fund Inc.	December	$0.03250		Income	–
		January	$0.03250		Income
		February	$0.03250		Income
HYI	Western Asset High Yield Defined Opportunity Fund Inc.	December	$0.09450		Income	–
		January	$0.09450		Income
		February	$0.09450		Income
EHI	Western Asset Global High Income Fund Inc.	December	$0.06700		Income	–
		January	$0.06700		Income
		February	$0.06700		Income
GDO	Western Asset Global Corporate Defined Opportunity Fund Inc.	December	$0.10100		Income	–
		January	$0.10100		Income
		February	$0.10100		Income
IGI	Western Asset Investment Grade Defined Opportunity Trust Inc.	December	$0.06650		Income	–
		January	$0.06650		Income
		February	$0.06650		Income
DMO	Western Asset Mortgage Opportunity Fund Inc.	December	$0.11250		Income	–
		January	$0.11250		Income
		February	$0.11250		Income
SBI	Western Asset Intermediate Muni Fund Inc.	December	$0.02350		Income	–
		January	$0.02350		Income
		February	$0.02350		Income
MMU	Western Asset Managed Municipals Fund Inc.	December	$0.04500		Income	–
		January	$0.04500		Income
		February	$0.04500		Income
MHF	Western Asset Municipal High Income Fund Inc.	December	$0.02180		Income	–
		January	$0.02180		Income
		February	$0.02180		Income
MNP	Western Asset Municipal Partners Fund Inc.	December	$0.04750		Income	–
		January	$0.04750		Income
		February	$0.04750		Income
MTT	Western Asset Municipal Defined Opportunity Trust Inc.	December	$0.04900		Income	(0.0025)
		January	$0.04900		Income
		February	$0.04900		Income

This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the Board of Directors. In early 2021 and early 2022, after definitive information is available, each Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by each Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital).

On July 31, 2020, Franklin Resources, Inc. (“Franklin Resources”) acquired Legg Mason, Inc. (“Legg Mason”) in an all-cash transaction. As a result of the transaction, Legg Mason Partners Fund Advisor, LLC, previously a wholly-owned subsidiary of Legg Mason, became a wholly-owned subsidiary of Franklin Resources.

For more information about the Funds, please call 1-888-777-0102 or consult the Funds’ web site at www.lmcef.com. Hard copies of the Funds’ complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Funds.

Category: Distribution Related

Source: Franklin Templeton

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005628/en/

Investor Contact: Fund Investor Services 1-888-777-0102

 

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Posted on November 17, 2020 8:03 am

Western Asset Global High Income Fund Inc. Announces Preliminary Results of Issuer Tender Offer for Common Stock

Western Asset Global High Income Fund Inc. Announces Preliminary Results of Issuer Tender Offer for Common Stock

NEW YORK–(BUSINESS WIRE)–
Western Asset Global High Income Fund Inc. (NYSE: EHI) (the “Fund”) announced today the expiration and preliminary results for its issuer tender offer for up to 50% of the outstanding shares of common stock (“Shares”) of the Fund. The Fund’s tender offer expired on Monday, November 16, 2020 at 11:59 p.m., New York City time.

Based on current information, approximately 21,170,179 Shares were duly tendered and not withdrawn. The purchase price and final number of Shares validly tendered and accepted pursuant to the tender offer will be announced at a later date. The Fund expects to make cash payments for tendered and accepted Shares at a purchase price equal to 99.5% of the per Share net asset value as of the close of the regular trading session of the New York Stock Exchange on November 17, 2020. Payment for such Shares will be made on or about November 19, 2020. Shares that were not tendered will remain outstanding.

Any questions about the tender offer can be directed to Georgeson LLC, the information agent for the tender offer, toll free at (888) 607-9107.

About the Fund

Western Asset Global High Income Fund Inc., a non-diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, an indirect wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”), and is sub-advised by Western Asset Management Company, LLC, Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd., indirect wholly-owned subsidiaries of Franklin Resources and affiliates of the investment manager.

THIS PRESS RELEASE IS NOT A PROSPECTUS, CIRCULAR OR REPRESENTATION INTENDED FOR USE IN THE PURCHASE OR SALE OF FUND SHARES. THIS PRESS RELEASE MAY CONTAIN STATEMENTS REGARDING PLANS AND EXPECTATIONS FOR THE FUTURE THAT CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT ARE FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “ESTIMATE,” “BELIEVE,” “CONTINUE” OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON THE FUND’S CURRENT PLANS AND EXPECTATIONS, AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND UNCERTAINTIES ARE CONTAINED IN THE FUND’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION

Additional information regarding the matters addressed in the press release may be announced subsequently via press release, which can be accessed at www.lmcef.com. Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling Shares of the Fund.

For more information about the Fund, please call Investor Relations: 1-888-777-0102, or consult the Fund’s web site at www.lmcef.com. The information contained on the Fund’s web site is not part of this press release. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Category: Fund Announcement

Source: Franklin Templeton

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005639/en/

Media Contact: Fund Investor Services-1-888-777-0102

 

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Posted on November 17, 2020 8:03 am

Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribution Policy

Legg Mason Partners Fund Advisor, LLC Announces Distributions for Certain Closed End Funds Pursuant to their Managed Distribution Policy

NEW YORK–(BUSINESS WIRE)–
Legg Mason Partners Fund Advisor, LLC announced today that certain closed end funds have declared distributions pursuant to their managed distribution policy.

The following dates apply to the distribution schedule below:

Month	Record Date	Ex-Dividend Date	Payable Date
December	12/23/2020	12/22/2020	12/31/2020
January*	1/22/2021	1/21/2021	2/1/2021
February	2/19/2021	2/18/2021	3/1/2021

*BrandywineGLOBAL – Global Income Opportunities Fund Inc.’s (“BWG”) January 2021 distribution will have a record date of12/31/2020, an ex-dividend date of 12/30/2020 and a payable date of 1/29/2021.

Ticker	Fund Name	Month	Amount		Change from Previous Distribution
SCD	LMP Capital and Income Fund Inc.a	December	$0.26000	b	(0.050000)
BWG	BrandywineGLOBAL – Global Income Opportunities Fund Inc. a	December	$0.07500		0.005000
		January*	$0.07500
		February	$0.07500
EMD	Western Asset Emerging Markets Debt Fund Inc. a	December	$0.09000		(0.005000)
		January	$0.09000
		February	$0.09000

^(a) Please see table below for each Fund’s estimated source of distributions.

^(b) Quarterly paying distribution.

*^{BWG’s January 2021 distribution will have a record date of 12/31/2020, an ex-dividend date of 12/30/2020 and a payable date of 1/29/2021.}

Under the terms of each Fund’s managed distribution policy, the Fund seeks to maintain a consistent distribution level derived from the income and capital gains generated from the Fund’s investment portfolio. Shareholders should note that if the Fund’s aggregate net investment income and net realized capital gains are less than the amount of the distributions paid, the difference will be distributed from the Fund’s assets and may constitute a return of the shareholder’s capital. The Board of Directors may modify, terminate or suspend the managed distribution policy at any time. Any such modification, termination or suspension could have an adverse effect on the market price of the Fund’s shares.

Each Fund’s distributions have been set based on the current level of income generated from the Fund’s investment portfolio and accumulated capital gains, if any. Based on the Funds’ tax accounting records, which also factors in currency fluctuations, each Fund’s estimated source of cumulative fiscal year-to-date distributions is presented in the table below:

Fund	Fiscal Year End		Income		Short-Term Capital Gains		Long-Term Capital Gains		Return of Capital
SCD	Nov 30		12.70%		–		–		87.3%	(a)
BWG	Oct 31		100.00%		–		–		–	(b)
EMD	Dec 31		100.00%		–		–		–	(c)

^(a) Sources of cumulative fiscal year-to-date distributions are estimated through December 31, 2020.

^(b) Sources of cumulative fiscal year-to-date distributions are estimated through February 28, 2021.

^(c) Sources of cumulative fiscal year-to-date distributions are estimated through February 28, 2021. Cumulative fiscal year-to-date distributions are estimated to be 91.65% sourced from income and 8.35% from a return of capital through December 31, 2020.

The updated estimated components of the distributions announced today will be provided to shareholders of record in a separate notice when the distributions are paid.

This press release is not for tax reporting purposes but is being provided to announce the amount of each Fund’s distributions that have been declared by the Board of Directors. In early 2021 and early 2022, after definitive information is available, each Fund will send shareholders a Form 1099-DIV, if applicable, specifying how the distributions paid by each Fund during the prior calendar year should be characterized for purposes of reporting the distributions on a shareholder’s tax return (e.g., ordinary income, long-term capital gain or return of capital).

On July 31, 2020, Franklin Resources, Inc. (“Franklin Resources”) acquired Legg Mason, Inc. (“Legg Mason”) in an all-cash transaction. As a result of the transaction, Legg Mason Partners Fund Advisor, LLC, previously a wholly-owned subsidiary of Legg Mason, became a wholly-owned subsidiary of Franklin Resources.

For more information about the Funds, please call 1-888-777-0102 or consult the Funds’ web site at www.lmcef.com. Hard copies of the Funds’ complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Funds.

Category: Distribution Related

Source: Franklin Templeton

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005640/en/

Investor Contact: Fund Investor Services 1-888-777-0102

KEYWORDS: New York United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Posted on November 17, 2020 8:03 am

Western Asset High Income Opportunity Fund Inc. Announces Preliminary Results of Issuer Tender Offer for Common Stock

Western Asset High Income Opportunity Fund Inc. Announces Preliminary Results of Issuer Tender Offer for Common Stock

NEW YORK–(BUSINESS WIRE)–
Western Asset High Income Opportunity Fund Inc. (NYSE: HIO) (the “Fund”) announced today the expiration and preliminary results for its issuer tender offer for up to 25% of the outstanding shares of common stock (“Shares”) of the Fund. The Fund’s tender offer expired on Monday, November 16, 2020 at 11:59 p.m., New York City time.

Based on current information, approximately 60,615,942 Shares were duly tendered and not withdrawn. Because the number of Shares tendered exceeds 31,699,738 Shares, the tender offer has been oversubscribed. Therefore, in accordance with the terms and conditions specified in the tender offer, the Fund will purchase Shares from all tendering stockholders on a pro rata basis, disregarding fractions. The purchase price and final number of Shares validly tendered and accepted pursuant to the tender offer will be announced at a later date. The Fund expects to make cash payments for tendered and accepted Shares at a purchase price equal to 99.5% of the per Share net asset value as of the close of the regular trading session of the New York Stock Exchange on November 17, 2020. Payment for such Shares will be made on or about November 19, 2020. Shares that were not tendered will remain outstanding.

Any questions about the tender offer can be directed to Georgeson LLC, the information agent for the tender offer, toll free at (888) 607-9107.

About the Fund

Western Asset High Income Opportunity Fund Inc., a diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, an indirect wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”), and is sub-advised by Western Asset Management Company, LLC and Western Asset Management Company Limited, indirect wholly-owned subsidiaries of Franklin Resources and affiliates of the investment manager.

THIS PRESS RELEASE IS NOT A PROSPECTUS, CIRCULAR OR REPRESENTATION INTENDED FOR USE IN THE PURCHASE OR SALE OF FUND SHARES. THIS PRESS RELEASE MAY CONTAIN STATEMENTS REGARDING PLANS AND EXPECTATIONS FOR THE FUTURE THAT CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT ARE FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “ESTIMATE,” “BELIEVE,” “CONTINUE” OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON THE FUND’S CURRENT PLANS AND EXPECTATIONS, AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND UNCERTAINTIES ARE CONTAINED IN THE FUND’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION

Additional information regarding the matters addressed in the press release may be announced subsequently via press release, which can be accessed at www.lmcef.com. Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling Shares of the Fund.

For more information about the Fund, please call Investor Relations: 1-888-777-0102, or consult the Fund’s web site at www.lmcef.com. The information contained on the Fund’s web site is not part of this press release. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Category: Fund Announcement

Source: Franklin Templeton

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005652/en/

Media: Fund Investor Services-1-888-777-0102

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Banking Professional Services Finance

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Posted on November 17, 2020 8:03 am

Western Asset High Income Fund II Inc. Announces Preliminary Results of Issuer Tender Offer for Common Stock

Western Asset High Income Fund II Inc. Announces Preliminary Results of Issuer Tender Offer for Common Stock

NEW YORK–(BUSINESS WIRE)–
Western Asset High Income Fund II Inc. (NYSE: HIX) (the “Fund”) announced today the expiration and preliminary results for its issuer tender offer for up to 35% of the outstanding shares of common stock (“Shares”) of the Fund. The Fund’s tender offer expired on Monday, November 16, 2020 at 11:59 p.m., New York City time.

Based on current information, approximately 25,577,060 Shares were duly tendered and not withdrawn. The purchase price and final number of Shares validly tendered and accepted pursuant to the tender offer will be announced at a later date. The Fund expects to make cash payments for tendered and accepted Shares at a purchase price equal to 99.5% of the per Share net asset value as of the close of the regular trading session of the New York Stock Exchange on November 17, 2020. Payment for such Shares will be made on or about November 19, 2020. Shares that were not tendered will remain outstanding.

Any questions about the tender offer can be directed to Georgeson LLC, the information agent for the tender offer, toll free at (888) 607-9107.

About the Fund

Western Asset High Income Fund II Inc., a diversified, closed-end management investment company, is managed by Legg Mason Partners Fund Advisor, LLC, an indirect wholly-owned subsidiary of Franklin Resources, Inc. (“Franklin Resources”), and is sub-advised by Western Asset Management Company, LLC, Western Asset Management Company Limited and Western Asset Management Company Pte. Ltd., indirect wholly-owned subsidiaries of Franklin Resources and affiliates of the investment manager.

THIS PRESS RELEASE IS NOT A PROSPECTUS, CIRCULAR OR REPRESENTATION INTENDED FOR USE IN THE PURCHASE OR SALE OF FUND SHARES. THIS PRESS RELEASE MAY CONTAIN STATEMENTS REGARDING PLANS AND EXPECTATIONS FOR THE FUTURE THAT CONSTITUTE FORWARD-LOOKING STATEMENTS WITHIN THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. ALL STATEMENTS OTHER THAN STATEMENTS OF HISTORICAL FACT ARE FORWARD-LOOKING AND CAN BE IDENTIFIED BY THE USE OF WORDS SUCH AS “MAY,” “WILL,” “EXPECT,” “ANTICIPATE,” “ESTIMATE,” “BELIEVE,” “CONTINUE” OR OTHER SIMILAR WORDS. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON THE FUND’S CURRENT PLANS AND EXPECTATIONS, AND ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS. ADDITIONAL INFORMATION CONCERNING SUCH RISKS AND UNCERTAINTIES ARE CONTAINED IN THE FUND’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION

Additional information regarding the matters addressed in the press release may be announced subsequently via press release, which can be accessed at www.lmcef.com. Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling Shares of the Fund.

For more information about the Fund, please call Investor Relations: 1-888-777-0102, or consult the Fund’s web site at www.lmcef.com. The information contained on the Fund’s web site is not part of this press release. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Category: Fund Announcement

Source: Franklin Templeton

View source version on businesswire.com: https://www.businesswire.com/news/home/20201117005634/en/

Media Contact: Fund Investor Services-1-888-777-0102

 

KEYWORDS: New Mexico United States North America

INDUSTRY KEYWORDS: Banking Professional Services Finance

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