NEW YORK--(BUSINESS WIRE)--The Latin American Discovery Fund, Inc. (NYSE:LDF) (the “Fund”) announced today that Class I Directors Kathleen A. Dennis and Joseph J. Kearns and Class III Directors Michael E. Nugent and Fergus Reid have resigned from the Board of Directors (the “Board”) of the Fund, effective August 2, 2017, 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, Nancy C. Everett has resigned as a Class II Director of the Fund, effective August 2, 2017, in order to realign the class structure of the Fund, and has been appointed by the Board as a Class III Director of the Fund, effective August 3, 2017. Furthermore, as a result of Mr. Kearns’ resignation, Patricia Maleski has been appointed to the Audit Committee, effective August 3, 2017, and the Board has concluded that Jakki L. Haussler is an “audit committee financial expert” as defined by applicable Securities and Exchange Commission rules.
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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.