UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 14A
INFORMATION REQUIRED IN PROXY STATEMENT
SCHEDULE 14A INFORMATION
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the Securities Exchange Act of 1934 (Amendment No. )
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DWS GLOBAL COMMODITIES STOCK FUND, INC.
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October 2, 2008
Dear Shareholders of DWS Global Commodities Stock Fund, Inc.:
ISS RECOMMENDS THAT SHAREHOLDERS VOTE THE WHITE PROXY CARD
We are pleased to announce that ISS Governance Services, a division of
RiskMetrics Group ("RMG"), a leading independent proxy advisory firm, recommends
that shareholders vote in favor of Paul K. Freeman, William McClayton, William
N. Searcy, Jr., Robert Wadsworth and Rebecca W. Rimel as independent Directors
of the Fund.
Please vote today, as the Fund's annual meeting of shareholders will take place
Monday, October 13, 2008. We are pleased that ISS agrees that shareholders
should support the Fund's Directors, and we urge you to immediately VOTE THE
ENCLOSED WHITE PROXY CARD.
You may have received a yellow or gold proxy card from activist hedge fund
manager Western Investment, LLC, seeking board seats. We urge you to discard
their proxy card as we believe their interests are entirely self-motivated and
inconsistent with yours.
Here's what ISS/Riskmetrics had to say:
". . . since inception, the Fund has outperformed its peer group
on both a NAV total return basis and on a market total return
basis through August 31, 2008. The Fund's NAV has outperformed its
benchmark by 4.62% since inception on a cumulative return basis.
Furthermore, between July 31, 2007 and July 31, 2008, the Fund
outperformed its benchmark by 3.32%."
In commenting on Western's proposal, RMG observed:
"Given the costs and consequences of converting to an ETF, ETN or
open-end Fund, the board should only recommend this action in the
face of compelling circumstances, such as if there were serious
concerns about the continuing viability of the Fund as a suitable
longer-term investment for shareholders. RMG does not believe that
these circumstances are present in the case of the Fund."
"Despite the fund's current market price discount to NAV, RMG
believes that the Fund's performance, coupled with the board's
actions to narrow the discount and the complications of converting
the Fund to an ETF or ETN, justifies retaining the Fund's
closed-end structure as in the best interests of shareholders. RMG
believes that the presence of a discount should not, by itself,
necessitate the drastic step of converting the Fund into an ETF or
ETN. As such, RMG recommends that shareholders support the Fund's
nominees."
IF YOU VALUE STRONG PERFORMANCE AND A LONG-TERM APPROACH
INTENDED TO ENHANCE VALUE FOR ALL SHAREHOLDERS, VOTE THE
ENCLOSED WHITE PROXY CARD TODAY!
We urge you, as recommended by RMG, to support the Fund by completing, signing
and dating the enclosed White Proxy Card and promptly mailing it in the enclosed
postage-paid envelope. Alternatively, you may vote by telephone or internet by
following the instructions on the enclosed card. If you hold your shares in a
brokerage or bank account (in "street name"), your broker or bank cannot vote
your shares this year (as it has in past annual meetings) unless you complete,
sign, date and return the proxy voting form it will send you. Please do not sign
or vote any gold proxy card sent to you by Western or its associates. If you
have already returned a gold proxy card from Western and wish to vote according
to the recommendations of RMG and your Board of Directors, please return a
currently dated White Proxy Card. If you have already returned the White Proxy
Card, we thank you for your support.
We thank you for your continued support.
Sincerely,
The Directors of DWS Global Commodities Stock Fund, Inc.
John W. Ballantine William McClayton
Henry P. Becton, Jr. Rebecca W. Rimel
Dawn-Marie Driscoll Axel Schwarzer
Keith R. Fox William N. Searcy, Jr.
Paul K. Freeman Jean Gleason Stromberg
Kenneth C. Froewiss Robert H. Wadsworth
Richard J. Herring
If you have questions or need assistance in voting your shares, please call:
Georgeson Inc.
199 State Street, 26th Floor
New York, NY 10038
(800) 905-7281 (Toll Free)