Salomon Brothers Fund Conversion Meeting Adjourned (CEF: SBF)

The Salomon Brothers Fund (SBF) announced that they were not able to get enough votes to proceed with the plan to convert to an open end fund, so the meeting has been adjourned until May 1st.

This is a little surprising considering how much this fund has been in the news over the past few months. I would assume that almost all of the fund’s shareholders know what has been going on with SBF, and would be anxious to cast their votes. The press release did not give any details about how the vote is going so far, but it will be interesting to see how many shareholders are simply not voting, and how many are voting against the proposal.