Delaware Enhanced Global Dividend and Income Fund (NYSE:DEX) announces a share repurchase program. Under the program, the company will repurchase up to 3,186,291 shares, representing 30% of its issued share capital. The tender offer is contingent on the shareholder approval of Proposal 1, the reorganization of the Fund into arbdn Global Dynamic Dividend Fund. If more shares are tendered than the amount the Board has authorized to purchase, the Fund will purchase a number of shares equal to the tender offer amount on a pro-rated basis. The purchase price will equal be 98% of the net asset value per share (ôNAVö), as of the close of ordinary trading on the New York Stock Exchange on February 10, 2023. The tender offer will commence on January 12, 2023, and will expire, unless extended on February 10, 2023. As of May 26, 2022, the company had 11,179,968 shares issued and outstanding.
On December 12, 2022, the company received shareholder approval for the reorganization of the Fund into abrdn Global Dynamic Dividend Fund, hence the buyback will proceed.