sec document
SCHEDULE 14A
(RULE 14a-101)
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. )
Filed by the Registrant | |
Filed by a Party other than the Registrant |X|
Check the appropriate box:
| | Preliminary Proxy Statement
| | Confidential, for Use of the Commission Only (as permitted by Rule
14a-6(e)(2))
| | Definitive Proxy Statement
|X| Definitive Additional Materials
| | Soliciting Material Under Rule 14a-12
PIONEER TAX ADVANTAGED BALANCED TRUST
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(Name of Registrant as Specified in Its Charter)
WESTERN INVESTMENT LLC
WESTERN INVESTMENT HEDGED PARTNERS L.P.
WESTERN INVESTMENT ACTIVISM PARTNERS LLC
WESTERN INVESTMENT TOTAL RETURN MASTER FUND LTD.
BENCHMARK PLUS INSTITUTIONAL PARTNERS, L.L.C.
BENCHMARK PLUS MANAGEMENT, L.L.C.
BENCHMARK PLUS PARTNERS, L.L.C.
ARTHUR D. LIPSON
SCOTT FRANZBLAU
ROBERT FERGUSON
MATTHEW S. CROUSE
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(Name of Persons(s) Filing Proxy Statement, if Other Than the Registrant)
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| | Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and
0-11.
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Fee paid previously with preliminary materials:
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paid previously. Identify the previous filing by registration statement number,
or the form or schedule and the date of its filing.
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Western Investment LLC ("Western"), together with the other with the other
participants named herein, is filing materials contained in this Schedule 14A
with the Securities and Exchange Commission (the "SEC") relating to the
definitive proxy statement (the "Proxy Statement") and accompanying proxy cards
filed with the SEC on May 10, 2007 and to be used in connection with the annual
meeting of stockholders of Pioneer Tax Advantaged Balanced Trust (the "Company")
scheduled to be held on June 8, 2007 (the "Annual Meeting"), to solicit votes in
support of the election of Western's slate of director nominees at the Annual
Meeting. Western urges stockholders to read the Proxy Statement because it
contains important information.
PRESS RELEASE
WESTERN INVESTMENT LLC NOMINEES RECEIVE BACKING OF MAJOR
PROXY ADVISORS IN BID FOR SEATS ON PIONEER TAX ADVANTAGED
BALANCED TRUST (NYSE:PBF) BOARD
NEW YORK (May 29, 2007) Western Investment today announced that both
Institutional Shareholder Services, Inc. and Glass, Lewis & Co., influential
providers of voting advisory services to mutual funds and other major
institutional investors, have recommended that clients vote their common shares
of Pioneer Tax Advantaged Balanced Trust (NYSE-PBF) on the GOLD proxy for
Western Investment's slate of director nominees at the PBF Annual Meeting of
Shareholders scheduled for June 8th.
In making its recommendation, ISS noted that 'the persistence of a double-digit
NAV discount for such a sustained period leads one to conclude that the NAV
discount is directly attributable to the market's view of the fund or
unwillingness of the Fund's board to address the discount to NAV.' ISS also
concluded that `Western's nominees may bring new insights to narrow the Fund's
discount more effectively than the other nominees proposed by management and Mr.
Bradshaw.'
Glass Lewis indicated that 'the participation of a significant long-term
shareholder on the board of trustees could be beneficial for shareholders' and,
citing Western Investment's 'track record of effecting positive change at other
closed end funds that were trading at substantial NAV discounts,' stated that
Western Investment's presence 'on the Fund's board will provide the shareholder
the opportunity to review with the other trustees all alternatives available to
the Fund to reduce the NAV discount associated with its shares.'
Art Lipson, Managing Member of Western Investment, commented: `We are gratified
that both ISS and Glass Lewis have recognized that a steep and persistent market
discount to NAV is a disservice to PBF shareholders. We believe that the
unanimous support of both ISS and Glass Lewis for our position is enormously
significant. If elected, we fully intend to work with our fellow board members
to improve PBF's performance and reduce or eliminate the market discount to NAV.
Since the Annual Meeting is only days away, we are urging PBF shareholders to
have their shares voted by following the internet or telephone voting
instructions on their GOLD proxy card. Both ISS and Glass Lewis, professional
organizations whose businesses are based on carefully analyzing these situations
and making recommendations that influence the voting of literally trillions of
dollars of equity capital, are advising their clients to vote their shares on
the GOLD proxy.'
'It is important for every shareholder to know that even if you have already
voted another proxy, you have every right to change your mind and vote the GOLD
card today. The LAST vote you send in is the only one that will count, so please
vote your shares today.'
CERTAIN INFORMATION CONCERNING WESTERN INVESTMENT
Western Investment LLC ("Western Investment"), together with the other
Participants (as defined below), has made a definitive filing with the SEC of a
proxy statement (the "Proxy Statement") and accompanying proxy cards to be used,
among other things, to solicit votes for the approval of certain matters at the
annual meeting (the "Annual Meeting") of the Pioneer Tax Advantaged Balanced
Trust (the "Trust") scheduled for June 8, 2007 and in support of the election of
the Participants' slate of director nominees at the Annual Meeting.
Western Investment advises all stockholders of the Company to read the Proxy
Statement and other proxy materials relating to the Annual Meeting as they
become available because they contain important information. Such proxy
materials are available at no charge on the SEC's web site at
http://www.sec.gov. In addition, the Participants in the solicitation will
provide copies of the proxy materials, without charge, upon request. Requests
for copies should be directed to the Participants' proxy solicitor, Innisfree
M&A Incorporated, at its toll-free number: (877) 825-8619.
The Participants in the proxy solicitation are Western Investment, Western
Investment LLC, Arthur D. Lipson, Western Investment Activism Partners LLC,
Western Investment Total Return Master Fund Ltd., Benchmark Plus Institutional
Partners, L.L.C., Benchmark Plus Partners, L.L.C., Benchmark Plus Management,
L.L.C., Scott Franzblau, Robert Ferguson and Matthew S. Crouse (the
"Participants"). Information regarding the Participants and their direct or
indirect interests is available in the Schedule 13D jointly filed with the SEC
on January 26, 2007, as subsequently amended on February 27, 2007 and March 19,
2007 and the Proxy Statement.
Contact:
INNISFREE M&A INCORPORATED
Michael Brinn
212-750-8253