BOSTON--(BUSINESS WIRE)--JPMorgan China Region Fund, Inc. (the ‘Fund’) announced today that, based on the preliminary vote count provided by its transfer agent following the Fund’s 2017 Annual Meeting of Stockholders, the Fund’s stockholders have voted to:
- Approve the election of Julian M.I. Reid as a Director for a term expiring in 2020; and
- Approve a proposal to liquidate and dissolve the Fund pursuant to a Plan of Liquidation and Dissolution.
Final voting results will be published once they are certified by the independent inspector of elections following the customary review period.
Subject to final confirmation, the stockholders have voted to approve the liquidation and dissolution of the Fund.
Additional details regarding the liquidation, including the day on which the books of the Fund will be closed with respect to stockholders and trading on the New York Stock Exchange will cease as well as the date on which the liquidating distribution is expected to occur, will be provided in one or more future press releases. The Fund currently anticipates that the liquidation and dissolution of the Fund will take place within 3 months (absent unforeseen circumstances). This date will depend upon, among other things, the time needed to establish a liquidation trust for certain assets held in the Fund, as described below.
As described in the proxy statement, Fund assets held through the Qualified Foreign Institutional Investor (‘QFII’) program may only be repatriated once approved by Chinese regulators, the timing of which is not known. As a result, stockholders will not receive the net asset value, less liquidation costs, for these assets in the liquidating distribution, and instead will receive an interest in a liquidating trust that is anticipated to make additional distributions to stockholders upon repatriation of amounts under the QFII program.
The Fund is a non-diversified, closed-end management investment company whose shares are traded on the New York Stock Exchange. The Fund trades under the symbol “JFC.”
The Fund seeks to achieve long-term capital appreciation through investments primarily in equity securities of companies with substantial assets in, or revenues derived from, the People's Republic of China, Hong Kong, Taiwan and Macau—collectively, the China Region.
Copies of the documents filed with the SEC by the Fund are available free of charge on the Fund’s internet website at http://www.jpmchinaregionfund.com
JPMorgan Fund Services, in Boston, MA is the Fund’s accounting and administrative agent.
This release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of Fund securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.
Investing involves risk and it is possible to lose money on any investment in the Fund. Past performance is no guarantee of future returns.