Special Opportunities Fund Inc. (SPE) 2020年年度报告「NYSE」.pdf

1、 Special Opportunities Fund,Inc.(SPE)Annual ReportFor the year endedDecember 31,2020 1Special Opportunities Fund,Inc.Managed Distribution Plan(unaudited)On March 4,2019,the Special Opportunities Fund(the“Fund”)receivedauthorization from the SEC that permits the Fund to distribute long-term capitalga

2、ins to stockholders more than once per year.Accordingly,on April 1,2019,the Fund announced its Board of Directors formally approved the implementationof a Managed Distribution Plan(“MDP”)to make monthly cash distributionsto stockholders.In January 2020,the Fund began to make monthly distributions to

3、 commonstockholders at an annual rate of 7%,based on the NAV of the Funds commonshares as of the close of business on the last business day of the previous year.You should not draw any conclusions about the Funds investment performancefrom the amount of these distributions or from the terms of the M

4、DP.The MDPwill be subject to regular periodic review by the Funds Board of Directors.With each distribution,the Fund will issue a notice to stockholders which willprovide detailed information regarding the amount and composition of thedistribution and other information required by the Funds exemptiv

5、e order.TheFunds Board of Directors may amend or terminate the MDP at any time withoutprior notice to stockholders;however,at this time,there are no reasonablyforeseeable circumstances that might cause the termination of the MDP.For taxreporting purposes the actual composition of the total amount of

6、 distributions foreach year will continue to be provided on a Form 1099-DIV issued after the end ofthe year.The conversion price for each share of the Funds convertible preferred stock willdecrease by the amount of each distribution to common stockholders.Thecurrent conversion price as well as other