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EXHIBIT 77C
FLAHERTY & CRUMRINE/CLAYMORE PREFERRED SECURITIES INCOME FUND INCORPORATED
(the "Fund")
On April 23, 2004, the Fund held its Annual Meeting of Shareholders (the "Meeting") to (1) elect six Directors of the Fund ("Proposal 1") and (2) approve an amendment to the Fund's Articles Supplementary Establishing and Fixing the Rights and Preferences of Auction Market Preferred Stock ("Proposal 2"). With respect to Proposal 2, the Meeting was adjourned and reconvened on May 25, 2004. Proposal 2 did not receive sufficient votes to pass. The results of each proposal are as follows:
Proposal 1: Election of Directors.
Name For Withheld
Common Stock
Martin Brody 32,495,070 373,528
Donald F. Crumrine 32,536,571 320,027
David Gale 32,538,531 330,067
Robert F. Wulf 32,525,211 343,387
Auction Market Preferred Stock ("AMPS")
Nicholas Dalmaso 13,471 12
Morgan Gust 13,471 12
Proposal 2: Approve an Amendment to the Fund's Articles Supplementary Establishing and Fixing the Rights and Preferences of Auction Market Preferred Stock
For Against Abstained
Common Stock and AMPS
(voting as a single class)
Voted 19,406,843 327,011 563,506
EXHIBIT 77Q1a
FLAHERTY & CRUMRINE/CLAYMORE PREFERRED SECURITIES INCOME FUND INCORPORATED
(the "Fund")
At the July 18, 2003 Meeting of the Board of Directors of the Fund, the Board approved changing the Fund's name from "F&C/Claymore Preferred Securities Income Fund Incorporated" to "Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated". The Articles of Amendment effectuating such change are set forth below:
ARTICLES OF AMENDMENT
OF
F&C/CLAYMORE PREFERRED SECURITIES INCOME FUND INCORPORATED
F&C/CLAYMORE PREFERRED SECURITIES INCOME FUND INCORPORATED, a Maryland corporation (hereinafter called the "Corporation"), hereby certifies to the State Department of Assessments and Taxation of Maryland that:
FIRST: The Articles of Amendment and Restatement (the "Articles of Incorporation") of the Corporation are hereby further amended to replace Article II with the following:
ARTICLE II
NAME
The name of the Corporation (the "Corporation") hereafter shall be "Flaherty & Crumrine/Claymore Preferred Securities Income Fund Incorporated."
SECOND: The above amendment to the Articles of Incorporation was duly approved by a majority of the Corporation's Board of Directors at a meeting held on July 18, 2003.
THIRD: The above amendment to the Articles of Incorporation is limited to a change expressly permitted by sub-section 2-605(a)(1) of the General Corporation Law of Maryland to be made without action by stockholders of the Corporation.
The President acknowledges these Articles of Amendment to be the corporate act of the Corporation and states that to the best of his knowledge, information and belief the matters and facts set forth in these Articles of Amendment with respect to the authorization and approval of the amendment of the Corporation's Articles of Incorporation are true in all material respects, and that this statement is made under the penalties of perjury.
IN WITNESS WHEREOF, F&C/CLAYMORE PREFERRED SECURITIES INCOME FUND INCORPORATED has caused this instrument to be executed in its name and on its behalf by its President, Robert M. Ettinger, and attested by its Vice President, Treasurer and Assistant Secretary, Peter C. Stimes on the 15th of November, 2003. These Articles of Amendment shall be effective as of 12:01 a.m. on November 15, 2003.
F&C/CLAYMORE PREFERRED SECURITIES
INCOME FUND INCORPORATED
By: /s/ Robert M. Ettinger
Robert M. Ettinger, President
ATTEST:
By: /s/ Peter C. Stimes
Peter C. Stimes, Vice President, Treasurer and Assistant Secretary
EXHIBIT 77Q1b
FLAHERTY & CRUMRINE/CLAYMORE PREFERRED SECURITIES INCOME FUND INCORPORATED
(the "Fund")
Change in the Percentage of Foreign Securities
The Fund may invest up to 30% of its total assets in the securities, other than money market securities, of companies organized or having their principal place of business outside the United States. All foreign securities held by the Fund will be denominated in U.S. dollars. The percentage limitation was raised from 10% by the Fund's Board of Directors at its regular board meeting on April 23, 2004.