Updates from the Annual Meeting of Stockholders
Western Asset Managed Municipals Fund Inc. (NYSE: MMU) recently held its annual meeting of stockholders, discussing significant decisions made by the Fund’s investors. This meeting provided an essential opportunity for stockholders to engage with the Fund's management and influence future governance.
Election of Directors
During the meeting, Carol L. Colman was elected as a Class I Director by the holders of the Fund’s common and preferred shares, forming a unified voting class. She will serve until at least the next annual meeting, scheduled for 2027, unless a successor is elected or complications arise that necessitate her departure from the position.
Paolo M. Cucchi's Election
In addition, Paolo M. Cucchi secured a position as a Class I Director, specifically representing the holders of record of the Fund’s preferred stock. His term similarly extends until the next annual meeting in 2027, ensuring continuity in the Fund’s governance.
Approval of External Audit Firm
Moreover, stockholders ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accountants for the fiscal year concluding on May 31, 2025. This decision emphasizes the stockholders' commitment to maintaining rigorous financial oversight and transparency.
About the Fund
The Fund is classified as a non-diversified closed-end management investment company and is carefully managed by Franklin Templeton Fund Adviser, LLC, formerly known as Legg Mason Partners Fund Advisor, LLC. The management oversight is complemented by subadvisory services provided by Western Asset Management Company, LLC (WAMCo). Both FTFA and WAMCo are integral subsidiaries of Franklin Resources Inc., a globally recognized investment firm operating under the well-established Franklin Templeton name.
Contact and Additional Information
For any inquiries related to the Fund or for further information, stockholders can reach out by calling 1-888-777-0102. Alternatively, more details can be found on the Fund’s dedicated website, which offers an extensive range of information on the various closed-end funds available under the Franklin Templeton banner.
Frequently Asked Questions
What were the main outcomes of the annual meeting of stockholders?
The main outcomes included the election of new directors and the approval of external auditors for the upcoming fiscal year.
Who was elected as Class I Directors?
Carol L. Colman and Paolo M. Cucchi were elected to serve as Class I Directors for the Fund.
What is the duration of the directors' terms?
Both directors will serve until the annual meeting in 2027, barring any replacements or removals.
What firm was chosen for the independent audit?
PricewaterhouseCoopers LLP was ratified as the independent registered public accountants for the Fund.
How can investors contact the Fund for more information?
Investors can contact the Fund at 1-888-777-0102 for further inquiries.
