New Commerce Split Fund announced that a special meeting of shareholders will be held on May 14, 2014. At the meeting, the company will also include a proposal to modify the dividend policy for the Class I Preferred shares and the Class II Preferred shares as follows of Class II Preferred shareholders would immediately be eligible to begin receiving monthly dividends at the stated 7.5% annual dividend rate based on a new minimum threshold of mid-month net asset value being above $10 (currently at $11.40) beginning June 30, 2014. Class I Preferred shareholders would continue to receive monthly dividends based on their current annual fixed cumulative dividend of 7.5% per Class I Preferred share until and including the November 30, 2014 monthly dividend.

Effective for the December 31, 2014 monthly dividend, the Class I Preferred share annual cumulative dividend rate would be adjusted to 6.0% and this rate would remain in effect for the initial extension term of 5 years to December 1, 2019.