NEW YORK--(BUSINESS WIRE)--The Latin American Discovery Fund, Inc. (NYSE:LDF) (the “Fund”) announced today that Class III Directors Frank L. Bowman, James F. Higgins and Manuel H. Johnson have resigned from the Board of Directors (the “Board”) of the Fund, effective July 26, 2016, as the Fund does not expect that they will receive the required vote to be re-elected by stockholders of the Fund at the adjourned Meeting. In addition, Michael E. Nugent and Fergus Reid have resigned as Class I Directors of the Fund, effective July 26, 2016, in order to realign the class structure of the Fund, and have been appointed by the Board as Class III Directors of the Fund, effective July 27, 2016.
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This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.
Investing involves risk and it is possible to lose money on any investment in the Fund.