Company: MYI
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198172
Chunk: 265

Company: BLACKROCK MUNIYIELD QUALITY FUND III, INC.
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 265
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filed on Form N-CSR on April 7, 2025.

The financial statements of MVF for the fiscal
year ended July 31, 2024 are incorporated by reference herein to MVF’s annual report filed on Form
N-CSR on October 3, 2024. The financial statements of MVF for the six-month period ended January
31, 2025 are incorporated by reference herein to MVF’s semi-annual report filed on Form N-CSR on
April 7, 2025.

159

SUPPLEMENTAL FINANCIAL STATEMENTS

A table showing the fees of the Acquiring Fund and each Target Fund, and the fees and expenses of the Acquiring Fund on a pro forma basis after giving effect
to the proposed Reorganization, is included in the section entitled “Expense Table for Common Shareholders” of the Joint Proxy Statement/Prospectus.

Each Reorganization will not result in a material change to each Target Fund’s investment portfolio due to the investment restrictions of the Acquiring
Fund. As a result, a schedule of investments of each Target Fund modified to show the effects of the change is not required and is not included. Notwithstanding the foregoing, changes may be made to a Target Fund’s portfolio in advance of the
Reorganization and/or the Acquiring Fund’s portfolio following the Reorganization.

There are no material differences in the accounting, taxation
and valuation policies of each Target Fund as compared to those of the Acquiring Fund.

160

CERTAIN PROVISIONS OF THE CHARTERS AND BYLAWS Certain Provisions in the Charter and Bylaws of MVT MVT’s charter includes provisions that could have the effect of limiting the ability of other entities or persons to acquire control of the Fund or to change the composition of its Board and could have the effect of depriving common shareholders of an opportunity to sell their shares at a premium over prevailing market prices by discouraging a third-party from seeking to obtain control of MVT. A Director may be removed from office with or without cause but only by vote of the holders of at least 66 2/3% of the shares entitled to vote in an election to fill that directorship. A director elected by all of the holders of capital stock may be removed only by action of such holders, and a director elected by the holders of preferred stock may be removed only by action of the holders of preferred stock. In addition, the charter requires the favorable vote of the holders of at least 66 2