BOSTON--(BUSINESS WIRE)--On August 18, 2017, JPMorgan China Region Fund, Inc. (‘JFC’ or the ‘Fund’) filed its Form N-8F to notify the Securities and Exchange Commission of its intention to de-register under the Investment Company Act of 1940 (the ‘1940 Act’). It is expected that the Fund will be de-registered under the 1940 Act and dissolved under state law later this year.
As noted in previous announcements, on July 14, 2017, the Fund 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 were comprised of cash of $14.8840 per share of the Fund’s common stock plus equity interests in JPMorgan China Region Fund, Inc. Liquidation Trust (the ‘Liquidation Trust’) with a fair market value of $5.1182 per share of the Fund’s common stock. This Liquidating Distribution represented all of the Fund’s net assets, except for amounts set aside for reasonably ascertainable liabilities and obligations of the Fund and the Liquidation Trust.
The Liquidation Trust was established to protect stockholder’s interest in certain assets held through the Qualified Foreign Institutional Investor (‘QFII’) program which, as noted in previous announcements, may only be repatriated and paid to stockholders once approved by Chinese regulators, the timing of which is not known. As a result, in connection with the Liquidating Distribution, the Fund’s assets held through the QFII program, together with $562,941 in cash to pay for the estimated expenses of the Liquidation Trust, were transferred to the Liquidation Trust. Wilmington Trust, National Association (‘Wilmington’) will serve as the liquidation trustee to the Liquidation Trust and Wilmington is anticipated to make additional distributions to stockholders upon repatriation of amounts under the QFII program. Accordingly, stockholders should contact Wilmington with any further queries relating to this matter. Wilmington’s contact details are as follows:
Robert L. Reynolds
Wilmington Trust, N.A. – Global Capital Markets
Telephone Number: 203 453 1318
Address: 246 Goose Lane – Suite 105, Guilford, CT 06437
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.