|By PR Newswire||
|April 4, 2014 12:32 PM EDT||
PHILADELPHIA, April 4, 2014 /PRNewswire/ -- The Asia Tigers Fund, Inc. (the "Fund") (NYSE: GRR) held a Special Meeting of Stockholders (the "Meeting") today. At the Meeting, stockholders of the Fund voted to eliminate the interval fund structure, a fundamental policy of the Fund.
The Fund will eliminate its interval fund structure effective April 4, 2014. As noted in the Fund's proxy statement dated December 11, 2013, the Board of Directors of the Fund expects to extend a targeted discount policy whereby the Fund intends to buy back shares of common stock in the open market at times when the Fund's shares trade at a discount of 10% or more to NAV.
The description of the proposal and number of shares voted at the Meeting are as follows:
To eliminate the fundamental policy governing the Fund's semi-annual repurchase offers:
Closed-end funds have a one-time initial public offering and then are subsequently traded on the secondary market through one of the stock exchanges. The investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the NAV of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
International investing entails special risk considerations, including currency fluctuations, lower liquidity, economic and political risks, and differences in accounting methods; these risks are generally heightened for emerging market investments.
This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue" or other similar words. Such forward-looking statements are based on the Fund's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund's filings with the SEC.
In the United States, Aberdeen Asset Management (AAM) is the marketing name for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Limited, Aberdeen Asset Management Ltd. and Aberdeen Asset Management Asia Ltd., each of which is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
If you wish to receive this information electronically, please contact [email protected]
SOURCE The Asia Tigers Fund, Inc.
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