DEFA14A 1 d849192ddefa14a.htm WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC. Western Asset High Income Opportunity Fund Inc.

 

 

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WESTERN ASSET HIGH INCOME OPPORTUNITY FUND INC.

(Name of Registrant as Specified in Its Charter)

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  LOGO   

LOGO      

 

May 6, 2020        

 

           Vote Today for the Fund that is Delivering Monthly Distributions to You           
  Ahead of the Western Asset High Income Opportunity Fund Inc. (the “Fund”) Special Meeting of Shareholders on June 5, 2020, you are being asked to vote to approve new agreements1 between the Fund and its investment manager and subadvisers that will enable the Fund to continue to operate and deliver the returns you rely on.  

 

 

 

    
          

 

Why Should I Vote to Renew the Agreements with the Fund’s Investment Manager and Subadvisers?

 

   
  LOGO   Approving these agreements will enable the Fund to continue to operate and deliver the returns and distributions you have come to expect from the Fund    
 

 

   
 
  LOGO   The investment manager and subadvisers have developed and implemented the Fund’s strategy that has enhanced shareholder value    
 

 

   
 
     LOGO   Importantly, the new management and subadvisory agreements will be identical to the current agreements, except for the dates of execution, effectiveness and termination    
           

 

  

 

What Happens If I Don’t Vote to Approve the New Agreements?

 

          

If these new agreements are not approved, the Fund may be forced to liquidate, which could result in serious negative implications for long-term shareholders such as...

 

 
   LOGO   A significant loss of shareholder value, including the discontinuation of the Fund’s distributions  

 

 
   LOGO  

Negative tax consequences

 
   
   
   

 

 
       
          

 

Protect the Value of Your Investment —

Vote the WHITE Proxy Card Today

 

The Fund’s Board of Directors unanimously recommends that you vote on the WHITE Proxy Card “FOR” the approval of the new management agreement for the Fund’s investment manager and the new subadvisory agreement for the Fund’s subadvisers to ensure shareholders receive uninterrupted value.

 

  


                                                                                  

 

     
LOGO     

Your Vote is Important, No Matter How

Many or How Few Shares You Own

   
   

 

   
   
    You can vote by internet, telephone or by signing and dating the WHITE proxy card and mailing it in the envelope provided.    
   
   

If you have any questions about how to vote your shares or need additional assistance, please contact:

 

      
   

 

   
   
    Innisfree M&A        LOGO    Shareholders Call Toll Free: (877) 825-8621    
    Incorporated    Banks and Brokers Call: (212) 750-5833    
   
       
   

 

   
   

LOGO

 

 

REMEMBER

 

We urge you NOT to vote using any other colored proxy card as doing so will revoke your vote on the WHITE proxy card.

 

   

 

 

 

Notes

 

1  Due to the “change of control” resulting from the pending combination of Legg Mason Inc. (“Legg Mason”), the parent company of the Fund’s investment manager and subadvisers, and Franklin Resources, Inc., a global investment management organization operating as Franklin Templeton.

 

Forward Looking Statement

 

Past performance is no guarantee of future results. The information provided is not intended to be a forecast of future events, a guarantee of future results or investment advice.

 

All investments are subject to risk including the possible loss of principal. All benchmark performance reflects no deduction for fees, expenses or taxes. Please note that an investor cannot invest directly in a benchmark.