Neuberger High Yield Strategies Fund Inc DEFA14A, filed Oct 22, 2020
Neuberger High Yield Strategies Fund Inc. (NHS)
DEFA14A
2020-10-22
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October 20, 2026
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
(Rule 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
Proxy Statement Pursuant to Section 14(a) of the
Securities Exchange Act of 1934 (Amendment No.)
Securities Exchange Act of 1934 (Amendment No.)
Filed by the Registrant [X]
Filed by a Party other than the Registrant [ ]
Check the appropriate box:
| [ ] | Preliminary Proxy Statement |
| [ ] | Confidential, For Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) |
| [ ] | Definitive Proxy Statement |
| [X] | Definitive Additional Materials |
| [ ] | Soliciting Material under Rule 14a-12 |
| Neuberger Berman High Yield Strategies Fund Inc. |
| (Name of Registrant as Specified In Its Charter) |
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| (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant) |
| [X] | No fee required. | |
| [ ] | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. | |
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Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): | |
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Proposed maximum aggregate value of transaction: | |
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Total fee paid:
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| [ ] | Fee paid previously with preliminary materials: | |
| [ ] | Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the form or schedule and the date of its filing. | |
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October 2020
STOCKHOLDERS OF
NEUBERGER BERMAN HIGH YIELD STRATEGIES FUND INC.
SABA CAPITAL MANAGEMENT, L.P. WITHDRAWS DIRECTOR NOMINATIONS
AND STOCKHOLDER PROPOSALS
Dear Stockholder:
Neuberger Berman High Yield Strategies Fund Inc. (NYSE American: NHS) (the “Fund”) wants to update you on some changes for the upcoming 2020 Annual Meeting of Stockholders
(the “Meeting”). First, the hedge fund managed by Saba Capital Management, L.P. has irrevocably withdrawn its director nominations and stockholder proposals and
terminated its pending proxy solicitation. As a result, the only proposal to be considered at the Meeting is the election of Directors.
The Meeting is still scheduled to take place on October 29, 2020 and your vote remains important. If you have not already done so, please take a few minutes today to vote your shares “FOR” the Fund’s incumbent Director nominees,
including by telephone or through the Internet, by following the instructions on the enclosed WHITE proxy card. If you have any questions, please contact
the Fund’s proxy solicitor, AST Fund Solutions, LLC (“AST”), toll-free at (866) 745-0265.
As previously announced via press release on October 21, 2020, in light of public health concerns regarding the coronavirus pandemic, the Fund has decided to hold the Meeting
in a virtual format only. The Meeting will be accessible solely by means of remote communication. If you held shares of the Fund through an intermediary (such as a broker-dealer) as of August 6, 2020, in order to participate in and vote at the
Meeting, you must first obtain a legal proxy from your intermediary reflecting the Fund’s name, the number of Fund shares you held as of August 6, 2020, and your name and email address. You may forward an email from your intermediary containing the
legal proxy or attach an image of the legal proxy, email it to AST at attendameeting@astfinancial.com and put “Legal Proxy” in the subject line. Requests for registration must be received by AST no later than 3:00 p.m. Eastern Time on Wednesday,
October 28, 2020. After receiving the appropriate information, AST will then email you the conference call dial-in information and instructions for voting during the Meeting.
If you were a record holder of Fund shares as of August 6, 2020 (i.e., you held shares of
the Fund directly in an account with the Fund’s transfer agent), you can participate in and vote at the Meeting or at any adjournments or postponements thereof. To do so, please email AST at attendameeting@astfinancial.com no later than 3:00 p.m.
Eastern Time on Wednesday, October 28, 2020. Please include the Fund’s name in the subject line and provide your name and address in the body of the e-mail. After receiving the appropriate information, AST will then email you the conference
call dial-in information and instructions for voting during the Meeting.
The following information is supplemental to the Fund’s Proxy Statement dated September 25, 2020, which was previously mailed to all
stockholders.
As of August 6, 2020, there are 16,619,912 shares of common stock entitled to vote and 7,600,000 shares of preferred stock entitled
to vote at the Meeting. As of August 6, 2020, the Fund is not aware of any person who owns beneficially more than 5% of its outstanding shares of common stock or preferred stock other than those listed below.
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Class
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Name and Address of Beneficial Owner
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Amount of
Beneficial
Ownership
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Percent of
Class
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Common
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Saba Capital Management, L.P.
Mr. Boaz R. Weinstein
405 Lexington Avenue, 58th Floor
New York, NY 10174
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4,874,870(1)
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24.95%(2)
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Common
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First Trust Portfolios L.P.
First Trust Advisors L.P.
The Charger Corporation
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
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1,197,093
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6.13%(3)
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Preferred
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Metropolitan Life Insurance Company
10 Park Avenue
P.O. Box 1902 Morristown, NJ 07962
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7,600,000
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100%
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| (1) |
Of this number of shares beneficially owned, 2,920,673 shares are deemed to be “control shares” under the Maryland Control Share Acquisition Act and currently have no voting rights at
the Meeting.
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Based on a Form 4 filed by Saba Capital Management, L.P. and Mr. Boaz R. Weinstein on May 28, 2020.
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Based on a Schedule 13G filed by First Trust Portfolios L.P., First Trust Advisors L.P. and The Charger Corporation on January 22, 2020.
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