Franklin Ltd Duration Income Trust will hold its annual Shareholder meeting on October 1, with votes on Trustee nominees and a $250,000 ownership threshold for qualifying candidate recommendations. The proposal matters because shareholders can cast, change or revoke proxies before the vote, while signed blank proxies support the nominees.

Key Highlights

  • Qualifying shareholders must have owned fund shares with a net asset value of $250,000 during the required period to recommend candidates.
  • The annual meeting is scheduled for October 1 in Fort Lauderdale, Florida, where shareholders will vote on trustee nominees.
  • The trustees unanimously recommend voting FOR each nominee.
  • Shareholders of record on August 3 may vote by mail, internet, telephone or in person; proxy materials were first mailed August 24.

Franklin Ltd Duration Income Trust (AMEX: FTF) will ask shareholders to vote on trustee nominees at its annual meeting on October 1. The trustees unanimously recommend voting FOR each nominee.

Trustee Ballot Sets Nomination Terms

Shareholders will vote at the fund’s offices in Fort Lauderdale, Florida, on the election proposal and any other matters properly brought before the meeting. Each common share carries one vote, while fractional common shares carry a proportional vote. Shareholders of record on August 3 are entitled to attend and vote.

Proxy materials were first mailed on August 24. Investors may vote by mail, internet, telephone or in person. A signed proxy without a specified choice will be counted FOR the trustee nominees.

Proxy Rules Set Shareholder Options

A proxy can be revoked before it is voted by sending a written revocation or later-dated proxy received by the meeting, or by attending and voting in person. Investors whose shares are held through a broker may need a legal proxy to vote at the meeting.

The Nominating Committee considers educational background, professional experience and reputation when reviewing candidates.

Promptly returning proxy cards may help the fund avoid additional mailings and save money. The meeting could be postponed or its format changed, including to a virtual meeting, with notice provided through a press release and additional announcement.

Source(s)

  • https://www.sec.gov/Archives/edgar/data/1233087/000165558926001170/def14a.htm