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:
|
Votes For
|
Votes
Against
|
Votes
Abstained
|
|
Eliminate
Policy
|
1,773,263
|
682,399
|
28,345
|
Important Information
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 InvestorRelations@aberdeen-asset.com
www.aberdeengrr.com
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SOURCE The Asia Tigers Fund, Inc.