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Delaware Investments Dividend and Income Fund, Inc. Delaware Enhanced Global Dividend and Income Fund Delaware Investments Colorado Municipal Income Fund, Inc. Delaware Investments National Municipal Income Fund Delaware Investments Minnesota Municipal Income Fund II, Inc. |
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COMBINED PROXY STATEMENT
AND
NOTICE OF JOINT ANNUAL MEETING OF
SHAREHOLDERS
TO BE HELD ON AUGUST 19, 2015
Important notice
regarding the availability of proxy materials for the shareholder
meeting to
be held on August 19, 2015: this proxy statement is available at
delawareinvestments.com/ceproxy.
To the Shareholders of:
Delaware Investments
Dividend and Income Fund, Inc.
Delaware Enhanced Global Dividend and Income Fund
Delaware Investments Colorado Municipal Income Fund, Inc.
Delaware Investments
National Municipal Income Fund
Delaware Investments Minnesota Municipal Income
Fund II, Inc.
This is your official notice that the Joint Annual Meeting of Shareholders (Meeting) of each Delaware Investments closed-end registered investment company listed above (each, individually, a Fund and, collectively, the Funds) will be held at the offices of Stradley Ronon Stevens & Young, LLP, located at One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103 on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time. The purpose of the Meeting is:
1. | To elect a Board of Directors or Trustees for each Fund; and | ||
2. | To transact any other business that properly comes before the Meeting and any adjournments of the Meeting. |
Please vote and send in your proxy card(s) promptly to avoid the need for further mailings. Your vote is important.
Richard
Salus
Senior Vice President and
Chief Financial Officer
July 1, 2015
2005 Market
Street |
COMBINED PROXY STATEMENT
JOINT ANNUAL MEETING OF SHAREHOLDERS
TO BE HELD ON WEDNESDAY, AUGUST 19, 2015
Meeting Information. The Board of Directors or Trustees (each Board is hereinafter referred to as a Board and Board members are referred to as Directors) of each Fund listed on the accompanying Notice is soliciting your proxy to be voted at the Joint Annual Meeting of Shareholders to be held on Wednesday, August 19, 2015, at 4:00 p.m., Eastern time, at the offices of Stradley Ronon Stevens & Young, LLP located at One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103 and/or at any adjournments of the meeting (the Meeting). Participating in the Meeting are holders of common shares of beneficial interest or common stock, as applicable (the Common Shares), and the holders of preferred shares of beneficial interest or preferred stock, as applicable (the Preferred Shares), for those Funds with outstanding Preferred Shares.
General Voting Information. You may provide proxy instructions by returning the enclosed proxy card(s) (Proxy Card) by mail in the enclosed envelope. The persons designated on the Proxy Card(s) as proxies will vote your shares as you instruct on each Proxy Card. If you return a signed Proxy Card without any voting instructions, your shares will be voted FOR ALL of the Director nominees in accordance with the recommendation of the Board. The persons designated on the Proxy Card as proxies will also be authorized to vote (or to withhold their votes) in their discretion on any other matters which properly come before the Meeting. They may also vote in their discretion to adjourn the Meeting. If you sign and return a Proxy Card, you may still attend the Meeting to vote your shares in person. If your shares are held of record by a broker and you wish to vote in person at the Meeting, you should obtain a legal proxy from your broker and present it at the Meeting. You may revoke your proxy at any time before the Meeting (i) by notifying Delaware Investments in writing at 2005 Market Street, Philadelphia, PA 19103; (ii) by submitting a later signed Proxy Card; or (iii) by voting your shares in person at the Meeting. If your shares are held in the name of your broker, you will have to make arrangements with your broker to revoke any previously executed proxy.
Each shareholder may cast one vote for each full share, and a partial vote for each partial share, of a Fund that they owned of record on June 22, 2015 (the Record Date). Exhibit A shows the number of shares of each Fund that were outstanding on the Record Date and Exhibit B lists the shareholders who owned 5% or more of the outstanding shares of any class of any Fund on that date. It is expected that this Combined Proxy Statement and the accompanying Proxy Card(s) will be first mailed to shareholders on or about July 6, 2015.
This proxy solicitation is being made primarily by mail, but may also be made by officers or employees of the Funds or their investment manager or affiliates, through telephone, facsimile, or other communications. The Funds may, but do not currently expect to, also employ a professional proxy solicitation firm. If a proxy solicitor is used, the cost will be borne by the Funds. The Funds may reimburse banks, brokers or dealers for their reasonable expenses in forwarding soliciting materials to beneficial owners of the Funds shares.
All shareholders of a Fund vote together to elect Directors, regardless of whether the Fund has both common and preferred shareholders, with one exception. For Delaware Investments Colorado Municipal Income Fund, Inc., Delaware Investments National Municipal Income Fund, and Delaware Investments Minnesota Municipal Income Fund II, Inc. (each, a Municipal Fund and, collectively, the Municipal Funds), each of which has outstanding Preferred Shares, the holders of Preferred Shares have the exclusive right to separately elect two Directors (the Preferred Share Directors), in addition to the right to vote for the remaining Directors together with the holders of the Common Shares.
The presence in person or by proxy of holders of a majority of a Funds outstanding shares shall constitute a quorum for such Fund. With respect to the Municipal Funds, the presence in person or by proxy of holders of 33⅓% of the outstanding Preferred Shares entitled to vote at the Meeting shall constitute a quorum of the preferred share class of the respective Municipal Fund for purposes of electing the two Preferred Share Directors. In the event that a quorum is not present or if sufficient votes are not received consistent with the Boards recommendation regarding the proposal, management may propose an adjournment or adjournments of the Meeting for a Fund. Any adjournment would require a vote in favor of the adjournment by the holders of a majority of the shares present at the Meeting in person or by proxy. The persons named as proxies on the Proxy Card(s) may vote (or withhold their votes) in their discretion on any proposed adjournment.
Abstentions and Broker Non-Votes. Because the only proposal scheduled to be considered at the Meeting is for the election of Directors, the Funds do not expect to receive any abstentions or broker non-votes. In the unlikely event that they do, however, abstentions and broker non-votes will be included for purposes of determining whether a quorum is present for each Fund at the Meeting. They will be treated as votes present at the Meeting, but will not be treated as votes cast. Broker non-votes occur when a meeting has (1) a routine proposal, such as the election of directors, where the applicable stock exchange permits brokers to vote their clients shares in their discretion, and (2) a non-routine proposal, such as a change to a fundamental investment policy, where the applicable exchange does not permit brokers to vote their clients shares in their discretion. The shares that are
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considered to be present as a result of the broker discretionary vote on the routine proposal but that are not voted on the non-routine proposal are called broker non-votes. Because the only proposal to be presented at the Meeting is considered to be a routine voting item, the Funds do not expect to receive any broker non-votes.
Copies of each Funds most recent annual report and semi-annual report, including financial statements, have previously been delivered to shareholders. Copies of these reports are available upon request, at no charge, by writing the Funds at the address shown on the top of the first page of this Combined Proxy Statement, by calling toll-free (866) 437-0252, or through the Funds website at delawareinvestments.com.
THE PROPOSAL: TO ELECT A BOARD OF
DIRECTORS
FOR EACH FUND
You are being asked to reelect each of the current members of the Board of your Fund. The nominees are: Thomas L. Bennett, Ann D. Borowiec, Joseph W. Chow, John A. Fry, Lucinda S. Landreth, Frances A. Sevilla-Sacasa, Thomas K. Whitford, and Janet L. Yeomans. All of the nominees have previously been elected by Fund shareholders, with the exception of Ms. Borowiec.
If elected, these persons will serve as Directors until the next annual meeting of shareholders called for the purpose of electing Directors and/or until their successors have been elected and qualify for office. It is not expected that any nominee will withdraw or become unavailable for election, but in such a case, the power given by you in the Proxy Card may be used by the persons named as proxies to vote for a substitute nominee or nominees as recommended by the Board.
Each Municipal Fund issues Common Shares and Preferred Shares. The holders of Preferred Shares of each Municipal Fund exclusively are entitled to elect two of their respective Preferred Share Directors, and the remaining Directors are to be elected by the holders of the Preferred Shares and Common Shares voting together. The nominees for Preferred Share Directors of the Municipal Funds are Lucinda S. Landreth and Janet L. Yeomans.
3
INFORMATION ON THE NOMINEES
Number | ||||||||||
of Funds | Other | |||||||||
Principal | in Fund | Directorships | ||||||||
Position(s) | Occupation(s) | Complex | Held by Trustee | |||||||
Name, Address, | Held with | Length of | During the Past | Overseen | During the Past | |||||
and Birthdate | the Trust | Time Served | Five Years | by Trustee | Five Years | |||||
Thomas L. Bennett | Chairman | Trustee since | Private Investor | 64 | Director Bryn Mawr | |||||
2005 Market Street | and Trustee | March 2005 | (March 2004 | Bank Corp. (BMTC) | ||||||
Philadelphia, | Present) | (20072011) | ||||||||
PA 19103 | Chairman | |||||||||
since March 1, | ||||||||||
October 1947 | 2015 | |||||||||
Ann D. Borowiec | Trustee | Since | CEO, Private | 64 | None | |||||
2005 Market Street | March 31, | Wealth | ||||||||
Philadelphia, | 2015 | Management | ||||||||
PA 19103 | (20112013) and | |||||||||
Market Manager, | ||||||||||
November 1958 | New Jersey | |||||||||
Private Bank | ||||||||||
(20052011) | ||||||||||
JP Morgan Chase | ||||||||||
& Co. | ||||||||||
Joseph W. Chow | Trustee | Since | Executive | 64 | Director and Audit | |||||
2005 Market Street | January 2013 | Vice President | Committee Member | |||||||
Philadelphia, | (Emerging | Hercules Technology | ||||||||
PA 19103 | Economies | Growth Capital, Inc. | ||||||||
Strategies, Risk | (20042014) | |||||||||
January 1953 | and Corporate | |||||||||
Administration) | ||||||||||
State Street | ||||||||||
Corporation | ||||||||||
(July 2004 | ||||||||||
March 2011) | ||||||||||
John A. Fry | Trustee | Since | President | 64 | Director Hershey | |||||
2005 Market Street | January 2001 | Drexel University | Trust Company | |||||||
Philadelphia, | (August 2010 | |||||||||
PA 19103 | Present) | Director, Audit | ||||||||
Committee, and | ||||||||||
May 1960 | President | Governance | ||||||||
Franklin & | Committee Member | |||||||||
Marshall College | Community Health | |||||||||
(July 2002 | Systems | |||||||||
July 2010) | ||||||||||
Director, Drexel | ||||||||||
Morgan & Co. |
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Number | ||||||||||
of Funds | Other | |||||||||
Principal | in Fund | Directorships | ||||||||
Position(s) | Occupation(s) | Complex | Held by Trustee | |||||||
Name, Address, | Held with | Length of | During the Past | Overseen | During the Past | |||||
and Birthdate | the Trust | Time Served | Five Years | by Trustee | Five Years | |||||
Lucinda S. Landreth | Trustee | Since | Private Investor | 64 | None | |||||
2005 Market Street | March 2005 | (2004Present) | ||||||||
Philadelphia, | ||||||||||
PA 19103 | ||||||||||
June 1947 | ||||||||||
Frances A. Sevilla- | Trustee | Since | Chief Executive | 64 | Trust Manager and | |||||
Sacasa | September | Officer Banco | Audit Committee | |||||||
2005 Market Street | 2011 | Itaú International | Member Camden | |||||||
Philadelphia, | (April 2012Present) | Property Trust | ||||||||
PA 19103 | ||||||||||
Executive Advisor | ||||||||||
January 1956 | to Dean | |||||||||
(August 2011 | ||||||||||
March 2012) and | ||||||||||
Interim Dean | ||||||||||
(January 2011 | ||||||||||
July 2011) | ||||||||||
University of | ||||||||||
Miami School | ||||||||||
of Business | ||||||||||
Administration | ||||||||||
President U.S. | ||||||||||
Trust, Bank | ||||||||||
of America | ||||||||||
Private Wealth | ||||||||||
Management | ||||||||||
(Private Banking) | ||||||||||
(July 2007 | ||||||||||
December 2008) | ||||||||||
Thomas K. Whitford | Trustee | Since | Vice Chairman | 64 | Director HSBC | |||||
2005 Market Street | January 2013 | (2010April 2013) | Finance Corporation | |||||||
Philadelphia, | Chief | and HSBC North | ||||||||
PA 19103 | Administrative | America Holdings Inc. | ||||||||
Officer | ||||||||||
March 1956 | (20082010) | Director, HSBC Bank | ||||||||
and Executive | ||||||||||
Vice President | ||||||||||
and Chief | ||||||||||
Administrative | ||||||||||
Officer | ||||||||||
(20072009) | ||||||||||
PNC Financial | ||||||||||
Services Group |
5
Number | ||||||||||
of Funds | Other | |||||||||
Principal | in Fund | Directorships | ||||||||
Position(s) | Occupation(s) | Complex | Held by Trustee | |||||||
Name, Address, | Held with | Length of | During the Past | Overseen | During the Past | |||||
and Birthdate | the Trust | Time Served | Five Years | by Trustee | Five Years | |||||
Janet L. Yeomans | Trustee | Since | Vice President and | 64 | Director, Audit | |||||
2005 Market Street | April 1999 | Treasurer | and Compliance | |||||||
Philadelphia, | (January 2006 | Committee Chair, | ||||||||
PA 19103 | July 2012) | Investment | ||||||||
Vice President | Committee Member | |||||||||
July 1948 | Mergers & | and Governance | ||||||||
Acquisitions | Committee Member | |||||||||
(January 2003 | Okabena Company | |||||||||
January 2006), and | ||||||||||
Vice President | Chair 3M | |||||||||
and Treasurer | Investment | |||||||||
(July 1995 | Management | |||||||||
January 2003) | Committee | |||||||||
3M Corporation | (20052012) |
The following table shows each Directors ownership of shares of each Fund and of all other Funds in the Delaware Investments® Family of Funds (the Fund Complex) as of March 31, 2015.
Aggregate Dollar Range of | ||||
Dollar Range of | Equity Securities in All Registered | |||
Equity Securities in | Investment Companies Overseen by | |||
Name of Director | a Fund | Director in Fund Complex | ||
Thomas L. Bennett | None | Over $100,000 | ||
Ann D. Borowiec | None | $10,001 $50,000 | ||
Joseph W. Chow | None | Over $100,000 | ||
John A. Fry | None | Over $100,000 | ||
Lucinda S. Landreth | None | Over $100,000 | ||
Frances A. Sevilla-Sacasa | None | Over $100,000 | ||
Thomas K. Whitford | None | Over $100,000 | ||
Janet L. Yeomans | None | Over $100,000 |
Board Leadership Structure and Functions.
Common Board of Directors. The business of each Fund is managed under the direction of its Board. The Directors also serve on the Boards of all the other investment companies that comprise the Fund Complex. The Directors believe that having a common Board for all funds in the complex is efficient and enhances the ability of the Board to address its responsibilities to each fund in the complex. The
6
Directors believe that the common board structure allows the Directors to leverage their individual expertise and that their judgment is enhanced by being Directors of all of the funds in the complex.
Board Chairman. As of March 1, 2015, Mr. Bennett serves as the Chairman of the Board. Among other reasons, the Board selected Mr. Bennett as Chairman because of his substantial financial industry experience and his tenure on the Board since March 2005. As the Chairman, Mr. Bennett, in consultation with Fund management, legal counsel, and the other Trustees, participates in developing Board agendas and ensures that appropriate and timely information is provided to the Board in connection with Board meetings. Mr. Bennett also conducts meetings of the Independent Trustees. He also generally serves as a liaison among outside Trustees, Fund officers, and legal counsel, and is an ex officio member of the Nominating and Corporate Governance Committee.
Size and Composition of Board. The Board is currently comprised of eight Directors. The Directors believe that the current size of the Board is conducive to Board interaction, dialogue, and debate, resulting in an effective decision-making body. The Board is comprised of Directors with a variety of professional backgrounds. The Board believes that the skill sets of its members are complementary and add to the overall effectiveness of the Board. The Directors regard diversity as an important consideration in the present composition of the Board and the selection of qualified candidates to fill vacancies on the Board.
Board Meetings. Each Municipal Fund held six Board meetings during their last fiscal year, ended March 31, 2015. Delaware Investments Dividend and Income Fund, Inc. (DDF) and Delaware Enhanced Global Dividend and Income Fund (DEX) held five Board meetings during their last fiscal year, ended November 30, 2014. Each Director attended at least 75% of the Board meetings described above and of the meetings of committees on which the Director served. Directors are encouraged to attend each annual meeting of shareholders either in person or by telephone, if possible. All Directors were present at the Funds annual meeting held on August 20, 2014.
Board Committees. The Board has established several committees, each of which focuses on a particular substantive area and provides reports and recommendations to the full Board. The committee structure enables the Board to manage efficiently and effectively the large volume of information relevant to the Boards oversight of the Funds. The committees benefit from the professional expertise of their members. At the same time, membership on a committee enhances the expertise of its members and benefits the overall effectiveness of the Board.
7
Each Fund has an Audit Committee that monitors accounting and financial reporting policies, practices and internal controls for the Fund. It also oversees the quality and objectivity of the Funds financial statements and the independent audit thereof, and acts as a liaison between the Funds independent registered public accounting firm and the full Board. The Audit Committee of each Fund consists of the following Independent Directors appointed by the Board: Joseph W. Chow, Chairperson; Ann D. Borowiec; Lucinda S. Landreth; and Frances A. Sevilla-Sacasa. Each Audit Committee member also meets the standard of independence for Audit Committee members set forth in the listing standards of the New York Stock Exchange (the NYSE) and NYSE MKT LLC (NYSE MKT) (formerly the NYSE Amex). Members of the Audit Committee serve for two-year terms or until their successors have been appointed and qualified. The Audit Committee held six meetings for DDF and DEX for the fiscal year ended November 30, 2014, and six meetings for the Municipal Funds for the fiscal year ended March 31, 2015. The Board of each Fund has adopted a written charter for the Funds Audit Committee, which is available on the Funds website at delawareinvestments.com.
Each Fund has an Independent Directors Committee that develops and recommends to the Board a set of corporate governance principles and oversees the evaluation of the Board, its committees and its activities. The committee is comprised of all of the Funds Independent Directors. The Independent Directors Committee held four meetings during the fiscal year ended November 30, 2014 for DDF and DEX, and four meetings for the Municipal Funds for the fiscal year ended March 31, 2015.
Each Fund has an Investments Committee. The primary purposes of the Investments Committee are to: (i) assist the Board at its request in its oversight of the investment advisory services provided to the Fund by the Funds investment adviser as well as any sub-advisers; (ii) review all proposed advisory and sub-advisory agreements for new funds or proposed amendments to existing agreements and to recommend what action the full Board and the Independent Directors should take regarding the approval of all such proposed agreements; and (iii) review reports supplied by the investment adviser regarding investment performance, portfolio risk and expenses and to suggest changes to such reports. The Investments Committee consists of the following Independent Directors: Janet L. Yeomans, Chairperson; Ann D. Borowiec; Joseph W. Chow; Lucinda S. Landreth; and Thomas K. Whitford. The Investments Committee held five meetings during the fiscal year ended November 30, 2014 for DDF and DEX, and five meetings for the Municipal Funds for the fiscal year ended March 31, 2015.
8
Each Funds Nominating and Corporate Governance Committee (the Nominating Committee) recommends Board nominees, fills Board vacancies that arise in between meetings of shareholders, and considers the qualifications and independence of Board members. The committee also monitors the performance of counsel for the Independent Directors. The Nominating Committee is comprised of the following five Independent Directors appointed by the Board: John A. Fry, Chairperson; Thomas L. Bennett (ex officio); Frances A. Sevilla-Sacasa; Thomas K. Whitford; and Janet L. Yeomans, all of whom meet the independence requirements set forth in the listing standards of the NYSE and NYSE MKT. The Nominating Committee recommends nominees for Independent Directors for consideration by the incumbent Independent Directors of each Fund, and the Nominating Committee recommends nominees for Interested Directors for consideration by the full Board of each Fund. The Nominating Committee held five meetings during the fiscal year ended November 30, 2014 for DDF and DEX, and five meetings for the Municipal Funds for the fiscal year ended March 31, 2015. Each Funds Board has adopted a formal charter for the Nominating Committee setting forth its responsibilities, which is available on the Funds website at delawareinvestments.com.
The Nominating Committee will consider shareholder recommendations for nomination to the Board only in the event that there is a vacancy on the Board. Shareholders who wish to submit recommendations for nominations to the Board to fill a vacancy must submit their recommendations in writing to the Nominating and Corporate Governance Committee, c/o Delaware Investments® Funds at 2005 Market Street, Philadelphia, Pennsylvania 19103-7094. Shareholders should include appropriate information on the background and qualifications of any person recommended (e.g., a resume), as well as the candidates contact information and a written consent from the candidate to serve if nominated and elected. Shareholder recommendations for nominations to the Board will be accepted on an ongoing basis and such recommendations will be kept on file for consideration when there is a vacancy on the Board.
In reaching its determination that an individual should serve or continue to serve as a Director of a Fund, the Nominating Committee considers, in light of the Funds business and structure, the individuals experience, qualifications, attributes and skills (the Selection Factors). No one Selection Factor is determinative, but some of the relevant factors that have been considered include: (i) the Directors business and professional experience and accomplishments, including prior experience in the financial services industry or on other boards; (ii) the ability to work effectively and collegially with other people; and (iii) how the Directors background and attributes contribute to the overall mix of skills and experience on the Board as a whole.
9
Director Qualifications.
In evaluating and selecting candidates for the Board, the Board intends to seek individuals who will serve the best interests of the Funds shareholders and whose attributes will, among other factors, also complement the experience, skills and diversity of the other Directors and add to the overall effectiveness of the Board. In the evaluation of such candidates, the Board believes that diversity with respect to factors such as background, education, experience, skills, differences of viewpoint, race, gender, national origin, and other factors that contribute to the Boards having an appropriate range of expertise, talents, experiences and viewpoints is an important consideration in the Boards composition. In addition to discussing diversity considerations in connection with the evaluation of each candidate for Board membership, the Board requests that the Nominating Committee discuss diversity considerations on a periodic basis in connection with the composition of the Board as a whole. Below is a brief summary of the Selection Factors that relate to each Director as of the date of this Combined Proxy Statement.
Thomas L. Bennett. Currently the Boards Chairman, Mr. Bennett has over 30 years of experience in the investment management industry, particularly with fixed income portfolio management and credit analysis. He has served in senior management for a number of money management firms. Mr. Bennett has also served as a board member of another investment company, an educational institution, nonprofit organizations and for-profit companies. He has an M.B.A. from the University of Cincinnati and is a Chartered Financial Analyst. Mr. Bennett has served on the Board since March 2005.
Ann D. Borowiec. Ms. Borowiec has over 25 years of experience in the banking and wealth management industry. Ms. Borowiec also serves as a board member on several nonprofit organizations. In nominating her to the Board in 2015, the Independent Trustees of the Trust found that her experience as a Chief Executive Officer in the private wealth management business at a leading global asset manager and private bank, including the restructuring of business lines and defining client recruitment strategies, complemented the skills of existing board members. Her experience would also provide additional oversight skill in the area of fund distribution. Ms. Borowiec holds a B.B.A. from Texas Christian University and an M.B.A. from Harvard University. Ms. Borowiec joined the Board in March 2015.
Joseph W. Chow. Mr. Chow has over 30 years of experience in the banking and financial services industry. In electing him in 2013, the Independent Directors of the Funds found that his extensive experience in business strategy in non-U.S. markets complemented the skills of existing Board members and also reflected the increasing importance of global financial markets in investment management. The Independent Directors also found that Mr. Chows management responsibilities
10
as a former Executive Vice President of a leading global asset servicing and investment management firm as well as his experience as Chief Risk and Corporate Administration Officer would add helpful oversight skills to the Boards expertise. Mr. Chow holds a B.A. degree from Brandeis and M.C.P. and M.S. in Management degree from MIT. Mr. Chow has served on the Board since January 2013.
John A. Fry. Mr. Fry has over 25 years of experience in higher education. He has served in senior management for three major institutions of higher learning. Mr. Fry has also served as a board member of many nonprofit organizations and several for-profit companies. Mr. Fry has extensive experience in overseeing areas such as finance, investments, risk-management, internal audit and information technology. He holds a B.A. degree in American Civilization from Lafayette College and an M.B.A. from New York University. Mr. Fry has served on the Board since January 2001.
Lucinda S. Landreth. Ms. Landreth has over 35 years of experience in the investment management industry, particularly with equity management and analysis. She has served as Chief Investment Officer for a variety of money management firms including a bank, a broker, and an insurance company. Ms. Landreth has advised mutual funds, pension funds, and family wealth managers and has served on the board and executive committees of her college, two foundations and several nonprofit institutions. In addition to her B.A., she is a Chartered Financial Analyst. Ms. Landreth has served on the Board since March 2005.
Frances A. Sevilla-Sacasa. Ms. Sevilla-Sacasa has over 30 years of experience in banking and wealth management. In electing her in 2011, the Independent Directors of the Board found that her extensive international wealth management experience, in particular, complemented the skills of existing Board members and also reflected the increasing importance of international investment management not only for dollar-denominated investors but also for investors outside the U.S. The Independent Directors also found that Ms. Sevilla-Sacasas management responsibilities as the former President and Chief Executive Officer of a major trust and wealth management company would add a helpful oversight skill to the Boards expertise, and her extensive nonprofit board experience gave them confidence that she would make a meaningful, experienced contribution to the Board. Finally, in electing Ms. Sevilla-Sacasa to the Board, the Independent Directors valued her perceived dedication to client service as a result of her overall career experience. Ms. Sevilla-Sacasa holds B.A. and M.B.A. degrees. Ms. Sevilla-Sacasa has served on the Board since September 2011.
Thomas K. Whitford. Mr. Whitford has over 25 years of experience in the banking and financial services industry, and served as Vice Chairman of a major banking, asset management, and residential mortgage banking institution. In electing him in 2013, the Independent Directors of the Funds found that Mr. Whitfords
11
senior management role in wealth management and experience in the mutual fund servicing business would provide valuable current management and financial industry insight, in particular, and complemented the skills of existing Board members. The Independent Directors also found that his senior management role in integrating company acquisitions, technology and operations and his past role as Chief Risk Officer would add a helpful oversight skill to the Boards expertise. Mr. Whitford holds a B.S. degree from the University of Massachusetts and an M.B.A. degree from the University of Pennsylvanias Wharton School. Mr. Whitford has served on the Board since January 2013.
Janet L. Yeomans. Ms. Yeomans has over 28 years of business experience with a large global diversified manufacturing company, including service as Treasurer for this company. In this role, Ms. Yeomans had significant broad-based financial experience, including global financial risk-management and mergers and acquisitions. She also serves as a board member of a for-profit company. She holds degrees in mathematics and physics from Connecticut College, an M.S. in mathematics from Illinois Institute of Technology, and an M.B.A. from the University of Chicago. Ms. Yeomans has served on the Board since April 1999.
Board Role in Risk Oversight. The Board performs a risk oversight function for the Funds consisting, among other things, of the following activities: (1) receiving and reviewing reports related to the performance and operations of the Funds; (2) reviewing, approving, or modifying, as applicable, the compliance policies and procedures of the Funds; (3) meeting with portfolio management teams to review investment strategies, techniques and the processes used to manage related risks; (4) addressing security valuation risk in connection with its review of fair valuation decisions made by Fund management pursuant to Board-approved procedures; (5) meeting with representatives of key service providers, including the Funds investment adviser, transfer agent, custodian and independent registered public accounting firm, to review and discuss the activities of the Funds and to provide direction with respect thereto; (6) engaging the services of the Funds Chief Compliance Officer to test the compliance procedures of the Fund and its service providers; and (7) requiring managements periodic presentations on specified risk topics.
The Directors perform this risk oversight function throughout the year in connection with each quarterly Board meeting. The Directors routinely discuss certain risk-management topics with Fund management at the Board level and also through the standing committees of the Board. In addition to these recurring risk-management discussions, Fund management raises other specific risk-management issues relating to the Funds with the Directors at Board and committee meetings. When discussing new product initiatives with the Board, Fund management also discusses risk either the risks associated with the new proposals or the risks that
12
the proposals are designed to mitigate. Fund management also provides periodic presentations to the Board to give the Directors a general overview of how the Funds investment adviser and its affiliates identify and manage risks pertinent to the Funds.
The Audit Committee looks at specific risk-management issues on an ongoing basis. The Audit Committee is responsible for certain aspects of risk oversight relating to financial statements, the valuation of Fund assets, and certain compliance matters. In addition, the Audit Committee meets with the investment advisers internal audit and risk-management personnel on a quarterly basis to review the reports on their examinations of functions and processes affecting the Funds.
The Boards other committees also play a role in assessing and managing risk. The Nominating Committee and the Independent Director Committee play a role in managing governance risk by developing and recommending to the Board corporate governance principles and, in the case of the Independent Director Committee, by overseeing the evaluation of the Board, its committees and its activities. The Investments Committee plays a significant role in assessing and managing risk through its oversight of investment performance, investment process, investment risk controls and Fund expenses.
Because risk is inherent in the operation of any business endeavor, and particularly in connection with the making of financial investments, there can be no assurance that the Boards approach to risk oversight will be able to minimize or even mitigate any particular risk. Each Fund is designed for investors that are prepared to accept investment risk, including the possibility that as yet unforeseen risks may emerge in the future.
Board Compensation. Each Independent Director receives compensation from each Fund of which he/she is a member of the Board. Each Independent Director currently receives a total annual retainer fee of $155,000 for serving as a Director of all 26 investment companies within the Fund Complex, plus $11,000 per meeting for attending each Board Meeting in person held on behalf of all investment companies in the complex. Each Director also receives a $2,500 fee for attending telephonic board meetings on behalf of the investment companies in the complex. Members of the Nominating Committee, Audit Committee, and Investments Committee receive additional compensation of $3,500 for each Committee meeting attended. The Directors may receive an additional fee if a committee meeting exceeds 4 hours. In addition, the chairperson for each of the Audit Committee, the Investments Committee, and the Nominating Committee receives an annual retainer of $25,000. The Board Chairman receives an additional annual retainer of $40,000.
13
The following table sets forth the compensation received by each Independent Director from each Fund and the total compensation received from the Fund Complex as a whole during the twelve months ended April 30, 2015.
Total Compensation | ||||||||||
Aggregate | from the Investment | |||||||||
Compensation from the | Companies in the Fund | |||||||||
Director | Funds | Complex | ||||||||
Thomas L. Bennett | $ | 3,915.65 | $ | 286,333.34 | ||||||
Ann D. Borowiec1 | $ | 637.93 | $ | 30,916.67 | ||||||
Joseph W. Chow | $ | 3,306.24 | $ | 242,166.68 | ||||||
John A. Fry | $ | 3,186.94 | $ | 233,500.04 | ||||||
Lucinda S. Landreth | $ | 3,197.74 | $ | 233,833.32 | ||||||
Frances A. Sevilla-Sacasa | $ | 3,197.74 | $ | 233,833.32 | ||||||
Thomas K. Whitford | $ | 3,108.01 | $ | 227,333.35 | ||||||
Janet L. Yeomans | $ | 3,432.90 | $ | 250,999.96 |
1 | Ms. Borowiec was appointed as a Director on Feb. 18, 2015. On Feb. 19, 2015, the Trustees approved a one-time $18,000 payment to Ms. Borowiec for her service on the Board and trustee training and education. |
Officers. The following individuals are executive officers of one or more of the Funds: Roger A. Early, David F. Connor, Daniel V. Geatens, and Richard Salus. Exhibit C includes certain information concerning these officers. The shares of each Fund that are owned by the executive officers as a group is less than one percent. In addition, to the knowledge of the Funds management, the Directors and officers of the Funds owned, as a group, less than one percent of the outstanding shares of each class of the Funds.
Section 16(a) Beneficial Ownership Reporting Compliance. Section 16 of the Securities Exchange Act of 1934, as amended (the 1934 Act), requires that Forms 3, 4, and 5 be filed with the SEC, the relevant securities exchange and the relevant Fund, by or on behalf of certain persons, including directors, certain officers, and certain affiliated persons of the investment adviser. The Funds believe that these requirements were met for each Funds last fiscal year.
Required Vote. All shareholders of a Fund vote together to elect Directors, except that the preferred shareholders of the Municipal Funds have the exclusive right to separately elect two Preferred Share Directors, in addition to the right to vote for the remaining Directors together with the holders of the Common Shares. The Preferred Share Director nominees are Lucinda S. Landreth and Janet L. Yeomans. Provided that a quorum is present at the Meeting, either in person or by proxy, the following votes are required to elect each Funds Board.
14
Proposal | ||
Election of Directors | ||
FUND | Bennett, Borowiec, Chow, Fry, | Landreth and Yeomans |
Sevilla-Sacasa, and Whitford | ||
DDF and DEX | Plurality of votes cast. | |
Municipal Funds | Plurality of Common and | Plurality of Preferred |
Preferred Share votes cast. | Share votes cast. |
THE BOARD
UNANIMOUSLY
RECOMMENDS THAT YOU VOTE FOR
EACH OF THE
NOMINEES
INDEPENDENT ACCOUNTANTS AND AUDIT COMMITTEE REPORT
The firm of PricewaterhouseCoopers LLP (PwC) has been selected as the independent registered public accounting firm (independent auditors) for Delaware Investments Dividend and Income Fund, Inc. (DDF), Delaware Enhanced Global Dividend and Income Fund (DEX), Delaware Investments National Municipal Income Fund (VFL), Delaware Investments Colorado Municipal Income Fund, Inc. (VCF), and Delaware Investments Minnesota Municipal Income Fund II, Inc. (VMM) (DDF, DEX, VFL, VCF and VMM are the Funds), for each Funds current fiscal year. In accordance with Public Company Accounting Oversight Board Rule 3526 (PCAOB Rule 3526), PwC has confirmed its independence to each Funds Audit Committee. PwC also acted as independent auditors of the Funds for their most recently completed fiscal years and has been appointed as independent auditors for the Funds current fiscal years.
The Audit Committee must approve all audit and non-audit services provided to the Funds by their independent auditors, as well as non-audit services provided by their independent auditors to Delaware Management Company (DMC) and its affiliates that provide ongoing services to the Funds if such non-audit services relate to the operations or financial reporting of the Funds. The Audit Committee reviews any audit or non-audit services to determine whether they are appropriate and permissible under applicable law.
Each Funds Audit Committee has adopted policies and procedures to provide a framework for the Audit Committees consideration of audit and non-audit services by the independent auditors. These policies and procedures require that: (i) any audit and non-audit services to be provided by the independent auditors to a Fund, and (ii) non-audit services relating directly to the operations or financial reporting of the Funds that are provided by the Funds independent auditors to DMC or to any entity controlling, controlled by or under common control with DMC that provides
15
ongoing services to the Funds are subject to pre-approval by the Audit Committee or the Chairperson of the Audit Committee before such service is provided. The Audit Committee has pre-approved certain services with respect to the Funds, DMC and its affiliates up to certain specified fee limits.
As required by its charter, each Funds Audit Committee has reviewed and discussed with Fund management and representatives from PwC the audited financial statements for each Funds last fiscal year. The Audit Committee has discussed with PwC its judgments as to the quality, not just the acceptability, of the Funds accounting principles and such other matters required to be discussed with the Audit Committee by Statement on Auditing Standards No. 114 (The Auditors Communication With Those Charged With Governance). The Audit Committee also received the written disclosures and the letter from PwC required by PCAOB Rule 3526, and discussed with a representative of PwC the independent auditors independence. Each Funds Board considered fees received by PwC from DMC and its affiliates during the last fiscal year in connection with its consideration of the auditors independence. Based on the foregoing discussions with management and the independent auditors, each Funds Audit Committee unanimously recommended to the Funds Board that the aforementioned audited financial statements be included in each Funds annual report to shareholders for the last fiscal year.
All members of each Funds Audit Committee, including Joseph W. Chow, Ann D. Borowiec, Lucinda S. Landreth, Frances A. Sevilla-Sacasa, and Janet L. Yeomans, are not considered to be interested persons under the 1940 Act. Each Funds Board has adopted a formal charter for the Audit Committee setting forth its responsibilities. A copy of the Audit Committees charter is available at delawareinvestments.com.
Representatives of PwC are expected to attend the Meeting. The PwC representatives will have the opportunity to make a statement if they desire to do so and will be available to answer appropriate questions.
Audit and Other Fees. The Funds and Covered Entities (the investment adviser, excluding sub-advisers unaffiliated with the investment adviser, and any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Funds) were billed the amounts listed below by PwC during each Funds last two fiscal years. None of the fees in the table below were approved by the registrants Audit Committee pursuant to the de minimis exception from the pre-approval requirement in Rule 2-01(c)(7)(i)(C) of Regulation S-X.
16
Non-Audit Fees | |||||||||||||||||||
Audit | |||||||||||||||||||
Fiscal Year | Related | ||||||||||||||||||
Fund | End |
Audit Fees |
Fees(1) |
Tax Fees(2) |
All Other(3) | ||||||||||||||
Delaware Investments Dividend | 11/30/14 | $ | 31,960 | $ | | $ | 5,109 | $ | |||||||||||
and Income Fund,
Inc. |
11/30/13 | $ | 28,035 | $ | | $ | 4,850 | $ | |||||||||||
Delaware Enhanced Global Dividend | 11/30/14 | $ | 31,960 | $ | | $ | 5,109 | $ | |||||||||||
and Income
Fund |
11/30/13 | $ | 29,735 | $ | | $ | 4,850 | $ | |||||||||||
Delaware Investments Colorado | 3/31/15 | $ | 33,100 | $ | | $ | 4,214 | $ | |||||||||||
Municipal Income
Fund, Inc. |
3/31/14 | $ | 29,535 | $ | | $ | 4,000 | $ | |||||||||||
Delaware Investments National | 3/31/15 | $ | 33,100 | $ | | $ | 4,214 | $ | |||||||||||
Municipal Income
Fund |
3/31/14 | $ | 29,535 | $ | | $ | 4,000 | $ | |||||||||||
Delaware Investments Minnesota | 3/31/15 | $ | 33,100 | $ | | $ | 4,214 | $ | |||||||||||
Municipal Income
Fund II, Inc. |
3/31/14 | $ | 29,535 | $ | | $ | 4,000 | $ | |||||||||||
Covered Entities | 11/30/14 | $ | | $ | 618,000 | $ | | $ | |||||||||||
11/30/13 | $ | | $ | 618,000 | $ | | $ | ||||||||||||
3/31/15 | $ | | $ | 612,000 | $ | | $ | ||||||||||||
3/31/14 | $ | | $ | 618,000 | $ | | $ |
1 | Includes fees billed for year-end audit procedures, reporting up and subsidiary statutory. |
2 | Includes fees billed to the Funds for the review of income tax returns and annual excise distribution calculations. |
3 | Includes fees billed for the attest examination of managements assertion to the controls in place at the transfer agent to be in compliance with Rule 17Ad-13(a)(3) of the 1934 Act. |
Aggregate non-audit fees to the Funds, the investment adviser and service provider affiliates. The aggregate non-audit fees billed by the independent auditors for services rendered to VCF, VFL and VMM and to Covered Entities were $7,530,526 and $8,090,937 for the fiscal years ended March 31, 2015 and March 31, 2014, respectively. The aggregate non-audit fees billed by the independent auditors for services rendered to DDF and DEX, and to Covered Entities, were $5,653,375 and $7,732,970 for the fiscal years ended November 30, 2014 and November 30, 2013, respectively.
In connection with its selection of PwC, the Audit Committee has considered PwCs provision of non-audit services to the investment adviser and other service providers under common control with the investment adviser that were not required to be pre-approved pursuant to Rule 2-01(c)(7)(ii) of Regulation S-X. The Audit Committee has determined that the independent auditors provision of these services is compatible with maintaining the auditors independence.
17
COMMUNICATIONS TO THE BOARD
Shareholders who wish to communicate to the full Board may address correspondence to Thomas L. Bennett, Board Chairman for the Funds, c/o the Fund at 2005 Market Street, Philadelphia, Pennsylvania 19103. Shareholders may also send correspondence to any individual Director c/o the Fund at 2005 Market Street, Philadelphia, Pennsylvania 19103. Without opening any such correspondence, Fund management will promptly forward all such correspondence to the addressed recipient(s).
OTHER INFORMATION
Investment Adviser. DMC, a series of Delaware Management Business Trust, 2005 Market Street, Philadelphia, PA 19103, serves as investment adviser to each Fund.
Administrator. Delaware Investments Fund Services Company, 2005 Market St., Philadelphia, PA 19103, an affiliate of DMC, performs administrative and fund accounting oversight services for the Funds.
Independent Auditors. PwC serves as the Funds independent auditors. PwCs principal address is Two Commerce Square, Suite 1700, 2001 Market Street, Philadelphia, PA 19103-7042.
Proxy Solicitation. This proxy solicitation is being made by the Board for use at the Meeting. The cost of this proxy solicitation will be borne equally by the Funds. The Funds do not currently expect to engage a proxy solicitor with respect to the proposal. In addition to solicitation by mail, solicitations also may be made by advertisement, telephone, telegram, facsimile transmission or other electronic media, or personal contacts. The Funds will request broker-dealer firms, custodians, nominees and fiduciaries to forward proxy materials to the beneficial owners of the shares of record. The Funds may reimburse broker-dealer firms, custodians, nominees and fiduciaries for their reasonable expenses incurred in connection with such proxy solicitation. In addition to solicitations by mail, officers and employees of the Funds, Delaware Management Business Trust and their affiliates, without extra pay, may conduct additional solicitations by telephone, fax, email, and personal interviews.
Householding. Unless you have instructed the Funds not to, only one copy of this proxy solicitation will be mailed to multiple Fund shareholders of record who share a mailing address (a Household). If you need additional copies of this proxy solicitation, please contact your participating broker-dealer firm or other financial intermediary or, if you hold Fund shares directly with the Funds, you may write to the Funds c/o Delaware Investments, 2005 Market Street, Philadelphia, PA 19103 or call toll-free (866) 437-0252. If you do not want the mailing of your proxy solicitation
18
materials to be combined with those of other members of your Household in the future, or if you are receiving multiple copies and would rather receive just one copy for your Household, please contact your participating broker-dealer firm or other financial intermediary or, if you hold Fund shares directly with the Funds, you may write to the Funds c/o Delaware Investments, 2005 Market Street, Philadelphia, PA 19103 or call toll-free (866) 437-0252.
Shareholder Proposals. For the Funds annual meeting of shareholders in 2016, shareholder proposals to be included in the Funds Combined Proxy Statement for that meeting must be received no later than March 8, 2016. Such proposals should be sent to the Fund, directed to the attention of its Secretary, at the address of its principal executive office printed on the first page of this Combined Proxy Statement. The inclusion and/or presentation of any such proposal is subject to the applicable requirements of the proxy rules under the 1934 Act, other applicable law and each Funds governing instruments. The persons designated as proxies will vote in their discretion on any matter if the Funds do not receive notice of such matter prior to May 22, 2016.
Fund Reports. Each Funds most recent annual report and semi-annual report were previously mailed to shareholders. Copies of these reports are available upon request, without charge, by writing the Funds c/o Delaware Investments, 2005 Market Street, Philadelphia, PA 19103, or by calling toll-free (866) 437-0252.
19
EXHIBIT A
OUTSTANDING SHARES AS OF RECORD DATE (JUNE 22, 2015)
Delaware Investments Dividend and Income Fund, Inc. | |
Common Shares | 8,967,090.1587 |
Delaware Enhanced Global Dividend and Income Fund | |
Common Shares | 15,863,615.6820 |
Delaware Investments Colorado Municipal Income Fund, Inc. | |
Common Shares | 4,837,100.0000 |
Preferred Shares | 300.0000 |
Delaware Investments National Municipal Income Fund | |
Common Shares | 4,528,443.5050 |
Preferred Shares | 300.0000 |
Delaware Investments Minnesota Municipal Income Fund II, Inc. | |
Common Shares | 11,504,975.0862 |
Preferred Shares | 750.0000 |
A-1
EXHIBIT B
SHAREHOLDERS OWNING 5% OR MORE OF A FUND
According to disclosure publicly filed with the SEC, as of June 22, 2015, the following accounts held of record 5% or more of the outstanding shares of the Funds listed below. Except as noted below, management does not have knowledge of beneficial owners.
Percent of | ||||||||||||
Number of | Outstanding | |||||||||||
Fund | Name and Address | Class of Shares | Shares | Shares | ||||||||
Delaware Enhanced
Global |
First Trust
Portfolios L.P., |
Common Shares |
2,279,445 |
14.37% |
||||||||
Delaware Enhanced
Global |
Advisors
Asset |
Common Shares |
1,498,008 |
9.44% |
||||||||
Delaware
Investments |
Wells Fargo
Bank, |
Preferred Shares |
300 |
100.00% |
||||||||
Delaware
Investments |
Wells Fargo
Bank, |
Preferred Shares |
300 |
100.00% |
||||||||
Delaware
Investments |
Wells Fargo
Bank, |
Preferred Shares |
750 |
100.00% |
B-1
EXHIBIT C
EXECUTIVE OFFICERS OF THE FUNDS
The Board and the senior management of each Fund appoint officers each year, and from time to time as necessary. Listed below are the executive officers, their years of birth and addresses, positions and length of service with the Funds, and principal occupations during the past five years. Each executive officer is also an officer of DMC, the investment adviser of each Fund, and considered to be an interested person of the Funds under the 1940 Act. No officer receives compensation from the Funds.
Name, Address, | Position(s) Held | Length of | Principal Occupation(s) | |||
and Birthdate | with the Funds | Time Served | During Past Five Years | |||
Roger A.
Early February 1954 |
President, |
President
and |
Roger A. Early has
served in various | |||
David F.
Connor December
1963 |
Senior
Vice |
Senior
Vice |
David F. Connor has
served in | |||
Daniel V.
Geatens October
1972 |
Vice President |
Treasurer
since |
Daniel V. Geatens has
served in | |||
Richard
Salus October 1963 |
Senior
Vice |
Chief
Financial |
Richard Salus has
served in various |
C-1
DELAWARE
INVESTMENTS
DIVIDEND DELAWARE
ENHANCED
GLOBAL DELAWARE
INVESTMENTS
COLORADO DELAWARE
INVESTMENTS
NATIONAL DELAWARE
INVESTMENTS
MINNESOTA | |
| |
AUGUST 19,
2015 | |
PROXY-CE 6/15 | |
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Please detach at perforation before
mailing.
PROXY | DELAWARE INVESTMENTS COLORADO MUNICIPAL INCOME FUND, INC. JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 19, 2015 |
PROXY |
The undersigned hereby revokes all previous proxies for his/her shares and appoints A.G. Ciavarelli, Deidre A. Downes, Michael E. Dresnin, and Kathryn R. Williams, or any of them, with the right of substitution, proxies of the undersigned at the joint annual meeting of shareholders of the Fund indicated above to be held at the offices of Stradley Ronon Stevens & Young, LLP, One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103, on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time, or at any postponements or adjournments thereof, with all the powers which the undersigned would possess if personally present, and instructs them to vote in their discretion upon any matters which may properly be acted upon at this joint annual meeting of shareholders and specifically as indicated on the reverse side of this proxy card. Please refer to the Proxy Statement for a discussion of these matters.
Note: PLEASE SIGN EXACTLY AS YOUR NAME(S) APPEAR(S) ON THIS PROXY CARD. When signing as custodian, attorney, executor, administrator, trustee, guardian, etc., please sign your title as such. | ||
Signature | ||
Signature | ||
Date | VCF_26783_062515_Pref |
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Joint Annual Shareholders Meeting to Be Held on August 19, 2015.
The Proxy Statement for this meeting is available at:
https://www.delawareinvestments.com/ceproxy
Please detach at perforation before mailing.
THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE FOR ALL THE NOMINEES BELOW.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK. Example: |
█ |
1. | To elect the following nominees as Directors of the Fund: | FOR ALL |
WITHHOLD ALL |
FOR ALL EXCEPT | |||||||||||||||
01. | Thomas L. Bennett | 02. | Ann D. Borowiec | 03. | Joseph W. Chow | ||||||||||||||
04. | John A. Fry | 05. | Frances A. Sevilla-Sacasa | 06. | Thomas K. Whitford | ☐ | ☐ | ☐ | |||||||||||
07. | Lucinda S. Landreth | 08. | Janet L. Yeomans | ||||||||||||||||
INSTRUCTIONS: To withhold authority to vote FOR any individual nominee(s), mark the For All Except box and write that nominee name(s) on the line provided below. |
|||||||||||||||||||
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT MARKED, TO VOTE FOR THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE JOINT ANNUAL MEETING OF SHAREHOLDERS. PLEASE COMPLETE AND MAIL THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
VCF_26783_062515_Pref
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Please detach at perforation before
mailing.
PROXY | DELAWARE INVESTMENTS NATIONAL MUNICIPAL INCOME FUND JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 19, 2015 |
PROXY |
The undersigned hereby revokes all previous proxies for his/her shares and appoints A.G. Ciavarelli, Deidre A. Downes, Michael E. Dresnin, and Kathryn R. Williams, or any of them, with the right of substitution, proxies of the undersigned at the joint annual meeting of shareholders of the Fund indicated above to be held at the offices of Stradley Ronon Stevens & Young, LLP, One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103, on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time, or at any postponements or adjournments thereof, with all the powers which the undersigned would possess if personally present, and instructs them to vote in their discretion upon any matters which may properly be acted upon at this joint annual meeting of shareholders and specifically as indicated on the reverse side of this proxy card. Please refer to the Proxy Statement for a discussion of these matters.
Note: PLEASE SIGN EXACTLY AS YOUR NAME(S) APPEAR(S) ON THIS PROXY CARD. When signing as custodian, attorney, executor, administrator, trustee, guardian, etc., please sign your title as such. | ||
Signature | ||
Signature | ||
Date | VFL_26783_062515_Pref |
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Joint Annual Shareholders Meeting to Be Held on August 19, 2015.
The Proxy Statement for this meeting is available at:
https://www.delawareinvestments.com/ceproxy
Please detach at perforation before mailing.
THE BOARD OF TRUSTEES RECOMMENDS THAT YOU VOTE FOR ALL THE NOMINEES BELOW.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK. Example: |
█ |
1. | To elect the following nominees as Trustees of the Fund: | FOR ALL |
WITHHOLD ALL |
FOR ALL EXCEPT | |||||||||||||||
01. | Thomas L. Bennett | 02. | Ann D. Borowiec | 03. | Joseph W. Chow | ||||||||||||||
04. | John A. Fry | 05. | Frances A. Sevilla-Sacasa | 06. | Thomas K. Whitford | ☐ | ☐ | ☐ | |||||||||||
07. | Lucinda S. Landreth | 08. | Janet L. Yeomans | ||||||||||||||||
INSTRUCTIONS: To withhold authority to vote FOR any individual nominee(s), mark the For All Except box and write that nominee name(s) on the line provided below. |
|||||||||||||||||||
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT MARKED, TO VOTE FOR THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE JOINT ANNUAL MEETING OF SHAREHOLDERS. PLEASE COMPLETE AND MAIL THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
VFL_26783_062515_Pref
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Please detach at perforation before
mailing.
PROXY | DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC. JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 19, 2015 |
PROXY |
The undersigned hereby revokes all previous proxies for his/her shares and appoints A.G. Ciavarelli, Deidre A. Downes, Michael E. Dresnin, and Kathryn R. Williams, or any of them, with the right of substitution, proxies of the undersigned at the joint annual meeting of shareholders of the Fund indicated above to be held at the offices of Stradley Ronon Stevens & Young, LLP, One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103, on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time, or at any postponements or adjournments thereof, with all the powers which the undersigned would possess if personally present, and instructs them to vote in their discretion upon any matters which may properly be acted upon at this joint annual meeting of shareholders and specifically as indicated on the reverse side of this proxy card. Please refer to the Proxy Statement for a discussion of these matters.
Note: PLEASE SIGN EXACTLY AS YOUR NAME(S) APPEAR(S) ON THIS PROXY CARD. When signing as custodian, attorney, executor, administrator, trustee, guardian, etc., please sign your title as such. | ||
Signature | ||
Signature | ||
Date | VMM_26783_062515_Pref |
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Joint Annual Shareholders Meeting to Be Held on August 19, 2015.
The Proxy Statement for this meeting is available at:
https://www.delawareinvestments.com/ceproxy
Please detach at perforation before mailing.
THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE FOR ALL THE NOMINEES BELOW.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK. Example: |
█ |
1. | To elect the following nominees as Directors of the Fund: | FOR ALL |
WITHHOLD ALL |
FOR ALL EXCEPT | |||||||||||||||
01. | Thomas L. Bennett | 02. | Ann D. Borowiec | 03. | Joseph W. Chow | ||||||||||||||
04. | John A. Fry | 05. | Frances A. Sevilla-Sacasa | 06. | Thomas K. Whitford | ☐ | ☐ | ☐ | |||||||||||
07. | Lucinda S. Landreth | 08. | Janet L. Yeomans | ||||||||||||||||
INSTRUCTIONS: To withhold authority to vote FOR any individual nominee(s), mark the For All Except box and write that nominee name(s) on the line provided below. |
|||||||||||||||||||
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT MARKED, TO VOTE FOR THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE JOINT ANNUAL MEETING OF SHAREHOLDERS. PLEASE COMPLETE AND MAIL THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
VMM_26783_062515_Pref
EVERY SHAREHOLDERS VOTE IS IMPORTANT
EASY VOTING OPTIONS: | ||
VOTE ON THE INTERNET | ||
VOTE BY PHONE | ||
VOTE BY MAIL |
Please detach at perforation before
mailing.
PROXY | DELAWARE INVESTMENTS COLORADO MUNICIPAL INCOME FUND, INC. JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 19, 2015 |
PROXY |
The undersigned hereby revokes all previous proxies for his/her shares and appoints A.G. Ciavarelli, Deidre A. Downes, Michael E. Dresnin, and Kathryn R. Williams, or any of them, with the right of substitution, proxies of the undersigned at the joint annual meeting of shareholders of the Fund indicated above to be held at the offices of Stradley Ronon Stevens & Young, LLP, One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103, on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time, or at any postponements or adjournments thereof, with all the powers which the undersigned would possess if personally present, and instructs them to vote in their discretion upon any matters which may properly be acted upon at this joint annual meeting of shareholders and specifically as indicated on the reverse side of this proxy card. Please refer to the Proxy Statement for a discussion of these matters.
Note: PLEASE SIGN EXACTLY AS YOUR NAME(S) APPEAR(S) ON THIS PROXY CARD. When signing as custodian, attorney, executor, administrator, trustee, guardian, etc., please sign your title as such. | ||
Signature | ||
Signature | ||
Date | VCF_26783_062515 |
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Joint Annual Shareholders Meeting to Be Held on August 19, 2015.
The Proxy Statement for this meeting is available at:
https://www.delawareinvestments.com/ceproxy
Please detach at perforation before mailing.
THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE FOR ALL THE NOMINEES BELOW.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK. Example: |
█ |
1. | To elect the following nominees as Directors of the Fund: | FOR ALL |
WITHHOLD ALL |
FOR ALL EXCEPT | |||||||||||||||
01. | Thomas L. Bennett | 02. | Ann D. Borowiec | 03. | Joseph W. Chow | ||||||||||||||
04. | John A. Fry | 05. | Frances A. Sevilla-Sacasa | 06. | Thomas K. Whitford | ☐ | ☐ | ☐ | |||||||||||
INSTRUCTIONS: To withhold authority to vote FOR any individual nominee(s), mark the For All Except box and write that nominee name(s) on the line provided below. |
|||||||||||||||||||
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT MARKED, TO VOTE FOR THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE JOINT ANNUAL MEETING OF SHAREHOLDERS. PLEASE COMPLETE AND MAIL THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
VCF_26783_062515
EVERY SHAREHOLDERS VOTE IS IMPORTANT
EASY VOTING OPTIONS: | ||
VOTE ON THE INTERNET | ||
VOTE BY PHONE | ||
VOTE BY MAIL |
Please detach at perforation before
mailing.
PROXY | DELAWARE INVESTMENTS DIVIDEND AND INCOME FUND, INC. JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 19, 2015 |
PROXY |
The undersigned hereby revokes all previous proxies for his/her shares and appoints A.G. Ciavarelli, Deidre A. Downes, Michael E. Dresnin, and Kathryn R. Williams, or any of them, with the right of substitution, proxies of the undersigned at the joint annual meeting of shareholders of the Fund indicated above to be held at the offices of Stradley Ronon Stevens & Young, LLP, One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103, on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time, or at any postponements or adjournments thereof, with all the powers which the undersigned would possess if personally present, and instructs them to vote in their discretion upon any matters which may properly be acted upon at this joint annual meeting of shareholders and specifically as indicated on the reverse side of this proxy card. Please refer to the Proxy Statement for a discussion of these matters.
Note: PLEASE SIGN EXACTLY AS YOUR NAME(S) APPEAR(S) ON THIS PROXY CARD. When signing as custodian, attorney, executor, administrator, trustee, guardian, etc., please sign your title as such. | ||
Signature | ||
Signature | ||
Date | DDF_26783_062515 |
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Joint Annual Shareholders Meeting to Be Held on August 19, 2015.
The Proxy Statement for this meeting is available at:
https://www.delawareinvestments.com/ceproxy
Please detach at perforation before mailing.
THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE FOR ALL THE NOMINEES BELOW.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK. Example: |
█ |
1. | To elect the following nominees as Directors of the Fund: | FOR ALL |
WITHHOLD ALL |
FOR ALL EXCEPT | |||||||||||||||
01. | Thomas L. Bennett | 02. | Ann D. Borowiec | 03. | Joseph W. Chow | ||||||||||||||
04. | John A. Fry | 05. | Frances A. Sevilla-Sacasa | 06. | Thomas K. Whitford | ☐ | ☐ | ☐ | |||||||||||
07. | Lucinda S. Landreth | 08. | Janet L. Yeomans | ||||||||||||||||
INSTRUCTIONS: To withhold authority to vote FOR any individual nominee(s), mark the For All Except box and write that nominee name(s) on the line provided below. |
|||||||||||||||||||
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT MARKED, TO VOTE FOR THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE JOINT ANNUAL MEETING OF SHAREHOLDERS. PLEASE COMPLETE AND MAIL THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DDF_26783_062515
EVERY SHAREHOLDERS VOTE IS IMPORTANT
EASY VOTING OPTIONS: | ||
VOTE ON THE INTERNET | ||
VOTE BY PHONE | ||
VOTE BY MAIL |
Please detach at perforation before
mailing.
PROXY | DELAWARE ENHANCED GLOBAL DIVIDEND AND INCOME FUND JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 19, 2015 |
PROXY |
The undersigned hereby revokes all previous proxies for his/her shares and appoints A.G. Ciavarelli, Deidre A. Downes, Michael E. Dresnin, and Kathryn R. Williams, or any of them, with the right of substitution, proxies of the undersigned at the joint annual meeting of shareholders of the Fund indicated above to be held at the offices of Stradley Ronon Stevens & Young, LLP, One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103, on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time, or at any postponements or adjournments thereof, with all the powers which the undersigned would possess if personally present, and instructs them to vote in their discretion upon any matters which may properly be acted upon at this joint annual meeting of shareholders and specifically as indicated on the reverse side of this proxy card. Please refer to the Proxy Statement for a discussion of these matters.
Note: PLEASE SIGN EXACTLY AS YOUR NAME(S) APPEAR(S) ON THIS PROXY CARD. When signing as custodian, attorney, executor, administrator, trustee, guardian, etc., please sign your title as such. | ||
Signature | ||
Signature | ||
Date | DEX_26783_062515 |
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Joint Annual Shareholders Meeting to Be Held on August 19, 2015.
The Proxy Statement for this meeting is available at:
https://www.delawareinvestments.com/ceproxy
Please detach at perforation before mailing.
THE BOARD OF TRUSTEES RECOMMENDS THAT YOU VOTE FOR ALL THE NOMINEES BELOW.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK. Example: |
█ |
1. | To elect the following nominees as Trustees of the Fund: | FOR ALL |
WITHHOLD ALL |
FOR ALL EXCEPT | |||||||||||||||
01. | Thomas L. Bennett | 02. | Ann D. Borowiec | 03. | Joseph W. Chow | ||||||||||||||
04. | John A. Fry | 05. | Frances A. Sevilla-Sacasa | 06. | Thomas K. Whitford | ☐ | ☐ | ☐ | |||||||||||
07. | Lucinda S. Landreth | 08. | Janet L. Yeomans | ||||||||||||||||
INSTRUCTIONS: To withhold authority to vote FOR any individual nominee(s), mark the For All Except box and write that nominee name(s) on the line provided below. |
|||||||||||||||||||
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT MARKED, TO VOTE FOR THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE JOINT ANNUAL MEETING OF SHAREHOLDERS. PLEASE COMPLETE AND MAIL THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
DEX_26783_062515
EVERY SHAREHOLDERS VOTE IS IMPORTANT
EASY VOTING OPTIONS: | ||
VOTE ON THE INTERNET | ||
VOTE BY PHONE | ||
VOTE BY MAIL |
Please detach at perforation before
mailing.
PROXY | DELAWARE INVESTMENTS NATIONAL MUNICIPAL INCOME FUND JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 19, 2015 |
PROXY |
The undersigned hereby revokes all previous proxies for his/her shares and appoints A.G. Ciavarelli, Deidre A. Downes, Michael E. Dresnin, and Kathryn R. Williams, or any of them, with the right of substitution, proxies of the undersigned at the joint annual meeting of shareholders of the Fund indicated above to be held at the offices of Stradley Ronon Stevens & Young, LLP, One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103, on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time, or at any postponements or adjournments thereof, with all the powers which the undersigned would possess if personally present, and instructs them to vote in their discretion upon any matters which may properly be acted upon at this joint annual meeting of shareholders and specifically as indicated on the reverse side of this proxy card. Please refer to the Proxy Statement for a discussion of these matters.
Note: PLEASE SIGN EXACTLY AS YOUR NAME(S) APPEAR(S) ON THIS PROXY CARD. When signing as custodian, attorney, executor, administrator, trustee, guardian, etc., please sign your title as such. | ||
Signature | ||
Signature | ||
Date | VFL_26783_062515 |
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Joint Annual Shareholders Meeting to Be Held on August 19, 2015.
The Proxy Statement for this meeting is available at:
https://www.delawareinvestments.com/ceproxy
Please detach at perforation before mailing.
THE BOARD OF TRUSTEES RECOMMENDS THAT YOU VOTE FOR ALL THE NOMINEES BELOW.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK. Example: |
█ |
1. | To elect the following nominees as Trustees of the Fund: | FOR ALL |
WITHHOLD ALL |
FOR ALL EXCEPT | |||||||||||||||
01. | Thomas L. Bennett | 02. | Ann D. Borowiec | 03. | Joseph W. Chow | ||||||||||||||
04. | John A. Fry | 05. | Frances A. Sevilla-Sacasa | 06. | Thomas K. Whitford | ☐ | ☐ | ☐ | |||||||||||
INSTRUCTIONS: To withhold authority to vote FOR any individual nominee(s), mark the For All Except box and write that nominee name(s) on the line provided below. |
|||||||||||||||||||
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT MARKED, TO VOTE FOR THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE JOINT ANNUAL MEETING OF SHAREHOLDERS. PLEASE COMPLETE AND MAIL THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
VFL_26783_062515
EVERY SHAREHOLDERS VOTE IS IMPORTANT
EASY VOTING OPTIONS: | ||
VOTE ON THE INTERNET | ||
VOTE BY PHONE | ||
VOTE BY MAIL |
Please detach at perforation before
mailing.
PROXY | DELAWARE INVESTMENTS MINNESOTA MUNICIPAL INCOME FUND II, INC. JOINT ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON AUGUST 19, 2015 |
PROXY |
The undersigned hereby revokes all previous proxies for his/her shares and appoints A.G. Ciavarelli, Deidre A. Downes, Michael E. Dresnin, and Kathryn R. Williams, or any of them, with the right of substitution, proxies of the undersigned at the joint annual meeting of shareholders of the Fund indicated above to be held at the offices of Stradley Ronon Stevens & Young, LLP, One Commerce Square, 2005 Market Street, 26th Floor, Philadelphia, Pennsylvania 19103, on Wednesday, August 19, 2015 at 4:00 p.m., Eastern time, or at any postponements or adjournments thereof, with all the powers which the undersigned would possess if personally present, and instructs them to vote in their discretion upon any matters which may properly be acted upon at this joint annual meeting of shareholders and specifically as indicated on the reverse side of this proxy card. Please refer to the Proxy Statement for a discussion of these matters.
Note: PLEASE SIGN EXACTLY AS YOUR NAME(S) APPEAR(S) ON THIS PROXY CARD. When signing as custodian, attorney, executor, administrator, trustee, guardian, etc., please sign your title as such. | ||
Signature | ||
Signature | ||
Date | VMM_26783_062515 |
PLEASE MARK, SIGN, DATE AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.
EVERY SHAREHOLDERS VOTE IS IMPORTANT
Important Notice Regarding the Availability of Proxy Materials for the
Joint Annual Shareholders Meeting to Be Held on August 19, 2015.
The Proxy Statement for this meeting is available at:
https://www.delawareinvestments.com/ceproxy
Please detach at perforation before mailing.
THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE FOR ALL THE NOMINEES BELOW.
TO VOTE, MARK BLOCKS BELOW IN BLUE OR BLACK INK. Example: |
█ |
1. | To elect the following nominees as Directors of the Fund: | FOR ALL |
WITHHOLD ALL |
FOR ALL EXCEPT | |||||||||||||||
01. | Thomas L. Bennett | 02. | Ann D. Borowiec | 03. | Joseph W. Chow | ||||||||||||||
04. | John A. Fry | 05. | Frances A. Sevilla-Sacasa | 06. | Thomas K. Whitford | ☐ | ☐ | ☐ | |||||||||||
INSTRUCTIONS: To withhold authority to vote FOR any individual nominee(s), mark the For All Except box and write that nominee name(s) on the line provided below. |
|||||||||||||||||||
BY SIGNING AND DATING THIS PROXY CARD, YOU AUTHORIZE THE PROXIES TO VOTE ON THE PROPOSAL DESCRIBED IN THE ACCOMPANYING PROXY STATEMENT AS MARKED, OR IF NOT MARKED, TO VOTE FOR THE PROPOSAL, AND TO USE THEIR DISCRETION TO VOTE ON ANY OTHER MATTER THAT MAY PROPERLY COME BEFORE THE JOINT ANNUAL MEETING OF SHAREHOLDERS. PLEASE COMPLETE AND MAIL THIS PROXY CARD AT ONCE IN THE ENCLOSED ENVELOPE.
VMM_26783_062515