BOSTON--(BUSINESS WIRE)--JPMorgan China Region Fund, Inc. (the “Fund”) today made a liquidating distribution pursuant to the plan of liquidation and dissolution approved by the Fund’s stockholders at the 2017 Annual Meeting of Stockholders (the “Liquidating Distribution”) in exchange for and redemption of all of the Fund’s issued and outstanding common stock. The gross proceeds of the Liquidating Distribution is to be comprised of cash of $14.8840 per share of the Fund’s common stock plus equity interests in JPMorgan China Region Fund, Inc. Liquidating Trust (the “Liquidating Trust”) with a fair market value of $5.1182 per share of the Fund’s common stock. This Liquidating Distribution represents all of the Fund’s net assets, except for amounts set aside for reasonably ascertainable liabilities and obligations of the Fund and the Liquidating Trust. Wilmington Trust, National Association will serve as the liquidation trustee to the Liquidating Trust. Further details about the shareholders’ interest in the Liquidating Trust accompany the Liquidating Distribution.
As a result of the aforementioned organizational action, Fund shareholders may recognize a gain or loss for U.S. tax purposes on the redemption of the shares of the Fund’s common stock. A Fund shareholder’s gain or loss will generally be measured as the difference between the Fund shareholder’s pro rata share of the gross proceeds of the Liquidating Distribution and the shareholder’s tax basis in the shares of the Fund’s common stock redeemed. Fund shareholders are urged to contact their tax advisers to address any additional questions regarding the tax impact of the Liquidating Distribution.
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.
JPMorgan Fund Services, in Boston, MA is the Fund’s accounting and administrative agent.