-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, UCEKR9tBCnQ38U0o9R0YWeQbgMvVEGm/0gnzWQdsJc4xC0F8MMIuw7wNOugQM2D4 dsCpRdUCaXnNdxiQbAgiaQ== 0000860127-99-000002.txt : 19990302 0000860127-99-000002.hdr.sgml : 19990302 ACCESSION NUMBER: 0000860127-99-000002 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 7 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: EMERGING GERMANY FUND INC CENTRAL INDEX KEY: 0000860127 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 133560296 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: SEC FILE NUMBER: 811-06038 FILM NUMBER: 99553671 BUSINESS ADDRESS: STREET 1: FOUR EMBARCADERO CENTER CITY: SAN 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KLEIN TITLE ASSISTANT TREASURER EX-27 2
6 0000860127 THE EMERGING GERMANY FUND INC. 12-MOS DEC-31-1998 DEC-31-1998 16964632 215104597 1188296 15707986 0 232000879 0 0 40662813 40662813 0 142013476 14008334 14008334 (2619002) 0 6773115 0 45170477 191338066 3357500 191120 0 4214671 (666051) 50944544 13394579 63673072 0 2381417 46367585 0 0 0 0 14924070 0 0 0 0 1915266 0 4214671 213719038 12.59 (.05) 4.60 0.17 3.31 0 13.66 1.97 0 0
EX-99 3 TYPE: EX-99 SEQUENCE: The Emerging Germany Fund Inc. Form N-SAR For Period Ending 12/31/98 File Number (c) 811-6038 Attachment Per Item 77 Sub-Item 77Q.2. Information Called for by Item 405 of Regulation S-K Section 30(h) Beneficial Ownership Reporting Compliance Section 30(h) of the Investment Company Act of 1940 requires the Company's officers, directors and investment advisers, the affiliated persons of such investment advisers, and the beneficial owners of more than ten percent of the Company's Capital Stock to file initial reports of ownership and reports of changes in ownership of the Company's capital stock with the Securities and Exchange Commission and the American Stock Exchange, and to provide copies of such reports to the Company. Based solely on a review of the copies of such reports received by it and of written representations by reporting persons that no additional reports are due, the Company believes that all Section 30(h) filing requirements for 1998 were satisfied, except as follows: Dresdner RCM Global Investors US Holdings LLC, which owns 100% of Dresdner RCM Global Investors LLC, the Company's investment manager, failed to file on a timely basis an initial report of ownership on Form 3. This information was subsequently reported, as required, on Form 5 on February 12, 1999. nsarexh.doc Page 1 02/26/99 EX-99 4 N-SAR SUB-ITEM 77C THE EMERGING GERMANY FUND INC. STOCKHOLDER MEETINGS RESULTS (UNAUDITED) An annual meeting of Stockholders of The Emerging Germany Fund Inc. (the "Fund") was held on Tuesday, January 26, 1999 (the "Meeting"). The number of shares issued, outstanding and eligible to vote as of December 4, 1998 was 14,008,334. The matters voted upon by stockholders and the resulting votes for each matter are presented below: 1. Proposal No. 1(a). Expanding the Fund's investment objective from a predominantly German Investment Portfolio to a broader European Investment Portfolio. For: 11,199,176 Against: 101,134 Abstain: 24,062 2. Proposal No. 1(b). Amending the Fund's Articles of Incorporation to change the Fund's name from "The Emerging Germany Fund Inc." to "Dresdner RCM Europe Fund Inc." For: 10,373,621 Against: 603,366 Abstain: 42,583 3. Proposal No. 2(a). Changing the Fund's 1940 Act subclassification from a closed-end investment company to an open- end investment company and amending and restating the Fund's Articles of Incorporation. For: 11,134,179 Against: 140,467 Abstain: 25,924 4. Proposal No. 2(b). Modification and elimination of certain of the Fund's fundamental investment restrictions upon conversion of the Fund to an open-end investment company. For: 11,089,058 Against: 132,004 Abstain: 79,507 5. Proposal No. 2(c). Approval of the proposed investment management agreement between the Fund and Dresdner RCM Global Investors LLC upon the conversion of the Fund to an open-end investment company. For: 10,240,535 Against: 669,500 Abstain: 109,533 6. Proposal No. 2(d). Approval of a Rule 12b-1 distribution plan upon conversion of the Fund to an open-end investment company. For: 10,426,399 Against: 476,952 Abstain: 397,218 7. Proposal No. 3. Election of directors. For Withheld Robert J. Birnbaum 10,920,285 723,680 Carroll Brown 10,654,962 713,603 Theodore J. Coburn 10,652,013 716,552 George N. Fugelsang 10,651,275 717,920 Ronald G. Olin 953,201 244,400 Ralph W. Bradshaw 953,201 244,400 Gary A. Bentz 993,500 204,101 William A. Clark 677,801 244,400 Messrs. James E. Dowd, Alfred W. Fiore, Siegfried A. Kessler, Rolf Passow, Gottfried W. Perbix and Jacob Saliba continue in office as directors. 8. Proposal No. 4. Selection of PricewaterhouseCoopers LLP as independent accountants of the Fund for fiscal year ending December 31, 1999. For: 11,975,798 Against: 50,732 Abstain: 539,636 9. Proposal No. 5. Stockholder proposal seeking termination of the investment management agreement between Dresdner RCM Global Investors LLC and the Fund. For: 1,270,997 Against: 9,430,690 Abstain: 315,880 10. Proposal No. 6(a). Floor proposal seeking resignation of Class II and Class III directors. For: 1,190,801 Against: 9,435,097 Abstain: 6,000 11. Proposal No. 6(b). Floor proposal seeking a tender offer at full net asset value for Fund shares. For: 480,301 Against: 9,679,497 Abstain: 0 12. Proposal No. 6(d). Floor proposal requesting an independent study to determine if the Fund should seek reimbursement from any person(s) for legal and other expenses incurred in the cancellation of the 1998 annual meeting of stockholders and related litigation. For: 204,901 Against: 9,679,497 Abstain: 275,400 13. Proposal No. 6(e). Floor proposal seeking repeal of Section 14 of the Fund's By-laws. For: 480,301 Against: 9,435,097 Abstain: 0 14. Proposal No. 7. Floor proposal seeking reimbursement from Dresdner RCM Global Investors LLC and other parties for legal and other expenses incurred by the Fund with respect to litigation which delayed the annual stockholders' meeting. For: 946,401 Against: 9,679,497 Abstain: 6,000 3 3 EX-99 5 REPORT OF INDEPENDENT ACCOUNTANTS To the Shareholders and Board of Directors of the Emerging Germany Fund, Inc.: In planning and performing our audit of the financial statements and financial highlights of Emerging Germany Fund, Inc. for the year ended December 31, 1998, we considered its internal control, including control activities for safeguarding securities, in order to determine our auditing procedures for the purpose of expressing our opinion on the financial statements and financial highlights and to comply with the requirements of Form N-SAR, not to provide assurance on internal control. The management of Emerging Germany Fund, Inc. is responsible for establishing and maintaining internal control. In fulfilling this responsibility, estimates and judgements by management are required to assess the expected benefits and related costs of controls. Generally, controls that are relevant to an audit pertain to the entity's objective of preparing financial statements and financial highlights for external purposes that are fairly presented in conformity with generally accepted accounting principles. Those controls include the safeguarding of assets against unauthorized acquisition, use or disposition. Because of inherent limitations in internal control, errors or fraud may occur and not be detected. Also, projection of any evaluation of internal control to future periods is subject to the risk that it may become inadequate because of changes in conditions or that the effectiveness of the design and operation may deteriorate. Our consideration of internal control would not necessarily disclose all matters in internal control that might be material weaknesses under standards established by the American Institute of Certified Public Accountants. A material weakness is a condition in which the design or operation of one or more of the internal control components does not reduce to a relatively low level the risk that errors or fraud in amounts that would be material in relation to the financial statements and financial highlights being audited may occur and not be detected within a timely period by employees in the normal course of performing their assigned functions. However, we noted no matters involving internal control and its operation, including controls over safeguarding securities, that we consider to be material weaknesses, as defined above, at December 31, 1998. This report is intended solely for the information and use of management, the Board of Directors of the Emerging Germany Fund, Inc., and the Securities and Exchange Commission. PricewaterhouseCoopers LLP Boston, Massachusetts February 22, 1999 EX-99 6 On April 8, 1998, the Fund filed a lawsuit in the United States District Court for the Southern District of New York against Phillip Goldstein, Ronald Olin and three affiliated entities captioned The Emerging Germany Fund Inc. v. Goldstein. The Fund alleges violations by the defendants of the proxy solicitation and beneficial ownership disclosure provisions of the federal securities laws in connection with the Funds annual meeting scheduled for April 1998. With respect to that meeting, Opportunity Partners, L.P. filed an action in the same court against the Fund and its directors on April 24, 1998 styled Opportunity Partners L.P. v. The Emerging Germany Fund Inc. alleging violations of the proxy antifraud rule of the federal securities laws and breach of fiduciary duty. The Fund, as nominal defendant, and each member of the Funds Board of Directors have been named as defendants in a derivative and purported class action suit captioned Steiner v. Fugelsang filed on May 28, 1998 in the same court. The class action allegations assert that the defendants violated the federal securities laws and Maryland corporate law and the derivative claims assert breach of fiduciary duty regarding the meeting. All issues in the actions have been resolved except as to entitlement to legal fees by the Goldstein and Steiner litigants, which issues are the subject of settlement discussions in part and further litigation in part. The Fund believes that a substantial portion of any fees payable to these litigants should be reimbursed under a contract of insurance which insures the Fund and its directors. Footnote continued from previous page Footnote continued on next page N-SAR Sub-Item 77E EX-99 7 NSAR SUB-ITEM 77Q-1 Exhibit (a) 1940 Act File No. 811-6038 U.S. SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 ________________ FORM N-2 REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 AMENDMENT NO. 6 THE EMERGING GERMANY FUND, INC. (Exact Name of Registrant as Specified in Charter) Four Embarcadero Center, San Francisco, California 94111-4189 (Address of Principal Executive Offices) (415) 954-5400 (Registrant's Telephone Number, including Area Code) Robert J. Goldstein The Emerging Germany Fund, Inc. Four Embarcadero Center San Francisco, California 94111-4189 (Name and Address of Agent for Service) PART C ITEM 24. FINANCIAL STATEMENTS AND EXHIBITS New Section 14 of Article II of the Registrant's Bylaws and restated Section 2 of Article II of Registrant's Bylaws, each as adopted on April 6, 1998, by the Registrant's Board of Directors, are filed herewith as Exhibit 2.b. SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this amendment to its registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of San Francisco and State of California, on the 17th day of April, 1998. THE EMERGING GERMANY FUND, INC. By /s/ ROBERT J. GOLDSTEIN --- - ------ - --------------- Robert J. Goldstein Secretary EXHIBIT INDEX Exhibit No. Description 2.b. Sections 2 and 14 of Article II of the Registrant's Bylaws Exhibit 2.b. Section 2. Annual Meeting. An annual meeting of the stockholders shall be held at such time and date as shall be designated by the board of directors for the election of directors and the transaction of such other business as may properly come before the meeting. Any business of the Corporation may be transacted at the annual meeting without being specifically designated in the notice except as otherwise provided by statute, by the Articles of Incorporation or by these Bylaws. Section 14. Advance Notice of Stockholder Nominees for Director and Other Stockholder Proposals. (a) The matters to be considered and brought before any annual or special meeting of stockholders of the Corporation shall be limited to only such matters, including the nomination and election of directors, as shall be brought properly before such meeting in compliance with the procedures set forth in this Section 14. (b) For any matter to be properly before any annual meeting of stockholders, the matter must be (i) specified in the notice of annual meeting given by or at the direction of the Board of Directors, (ii) otherwise brought before the annual meeting by or at the direction of the Board of Directors or(iii) brought before the annual meeting in the manner specified in this Section 14(b) by a stockholder of record or a stockholder (a "Nominee Holder") that holds voting securities entitled to vote at meetings of stockholders through a nominee or "street name" holder of record and can demonstrate to the Corporation such indirect ownership and such Nominee Holder's entitlement to vote such securities. In addition to any other requirements under applicable law and the Articles of Incorporation and Bylaws of the Corporation, persons nominated by stockholders for election as directors of the Corporation and any other proposals by stockholders shall be properly brought before the meeting only if notice of any such matter to be presented by a stockholder at such meeting of stockholders (the "Stockholder Notice") shall be delivered to the Secretary of the Corporation at the principal executive office of the Corporation not less than 60 nor more than 90 days prior to the first anniversary date of the annual meeting for the preceding year; provided, however, if and only if the annual meeting is not scheduled to be held within a period that commences 30 days before such anniversary date and ends 30 days after such anniversary date (an annual meeting date outside such period being referred to herein as an "Other Annual Meeting Date"), such Stockholder Notice shall be given in the manner provided herein by the later of the close of business on (i) the date 60 days prior to such Other Annual Meeting Date or (ii) the 10th day following the date such Other Annual Meeting Date is first publicly announced or disclosed; provided further, however, that with respect to stockholder proposals to be brought before the 1998 annual meeting, such Stockholder Notice shall be given no later than 14 days before the date of the 1998 annual meeting. Any stockholder desiring to nominate any person or persons (as the case may be) for election as a director or directors of the Corporation shall deliver, as part of such Stockholder Notice: (i) a statement in writing setting forth (A) the name of the person or persons to be nominated, (B) the number and class of all shares of each class of stock of the Corporation owned of record and beneficially by each such person, as reported to such stockholder by such nominee(s), (C) the information regarding each such person required by paragraphs (a), (e) and (f) of Item 401 of Regulation S-K or paragraph (b) of Item 22 of Rule 214a-101 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), adopted by the Securities and Exchange Commission (or the corresponding provisions of any regulation or rule subsequently adopted by the Securities and Exchange Commission applicable to the Corporation), (D) whether such stockholder believes any nominee will be an "interested person" of the Corporation (as defined in the Investment Company Act of 1940, as amended) and, if not an "interested person," information regarding each nominee that will be sufficient for the Corporation to make such determination, and (E) the number and class of all shares of each class of stock of the Corporation owned of record and beneficially by such stockholder; (ii) each such person's signed consent to serve as a director of the Corporation if elected; (iii) such stockholder's name and address; and, (iv) in the case of a Nominee Holder, evidence establishing such Nominee Holder's indirect ownership of, and entitlement to vote, securities at the meeting of stockholders. Any stockholder who gives a Stockholder Notice of any matter proposed to be brought before the meeting (not involving nominees for director) shall deliver, as part of such Stockholder Notice, the text of the proposal to be presented, a brief written statement of the reasons why such stockholder favors the proposal, such stockholder's name and address, the number and class of all shares of each class of stock of the Corporation owned of record and beneficially by such stockholder, any material interest of such stockholder in the matter proposed (other than as a stockholder) and, in the case of a Nominee Holder, evidence establishing such Nominee Holder's indirect ownership of, and entitlement to vote, securities at the meeting of stockholders. As used herein, shares "beneficially owned" shall mean all shares which such person is deemed to beneficially own pursuant to Rules 13d-3 and 13d-5 under the Exchange Act. Notwithstanding anything in this Section 14(b) to the contrary, in the event that the number of directors to be elected to the Board of Directors of the Corporation at a meeting of stockholders is increased and either all of the nominees for director or the size of the increased Board of Directors are not publicly announced or disclosed by the Corporation at least 70 days prior to the first anniversary of the preceding year's annual meeting, a Stockholder Notice shall also be considered timely hereunder, but only with respect to nominees for any new positions created by such increase, if it shall be delivered to the Secretary of the Corporation at the principal executive office of the Corporation not later than the close of business on the 10th day following the first date all of such nominees or the size of the increased Board of Directors shall have been publicly announced or disclosed. (c) Only such matters shall be properly brought before a special meeting of stockholders as shall have been brought before the meeting pursuant to the Corporation's notice of meeting. In the event the Corporation calls a special meeting of stockholders for the purpose of electing one or more directors to the Board of Directors, any stockholder may nominate a person or persons (as the case may be), for election to such position(s) as specified in the Corporation's notice of meeting, if the Stockholder Notice required by Section 14(b) hereof shall be delivered to the Secretary of the Corporation at the principal executive office of the Corporation not later than the close of business on the 10th day following the day on which the date of the special meeting and of the nominees proposed by the Board of Directors to be elected as such meeting is publicly announced or disclosed. (d) For purposes of this Section 14, a matter shall be deemed to have been "publicly announced or disclosed" if such matter is disclosed in a press release reported by the Dow Jones 4 News Service, Associated Press or comparable national news service or in a document publicly filed by the Corporation with the Securities and Exchange Commission. (e) In no event shall the adjournment of an annual meeting, or any announcement thereof, commence a new period for the giving of notice as provided in this Section 14. This Section 14 shall not apply to stockholder proposals made pursuant to Rule 14a-8 under the Exchange Act. (f) The person presiding at any meeting of stockholders, in addition to making any other determinations that may be appropriate to the conduct of the meeting, shall have the power and duty to determine whether notice of nominees and other matters proposed to be brought before a meeting has been duly given in the manner provided in this Section 14 and, if not so given, shall direct and declare at the meeting that such nominees and other matters shall not be considered. Page 1 -----END PRIVACY-ENHANCED MESSAGE-----