PHILADELPHIA, March 28, 2016 /PRNewswire/ -- Aberdeen Australia Equity Fund, Inc. (the "Fund") (NYSE: IAF) held its Annual Meeting of Shareholders (the "Meeting") on March 24, 2016. At the Meeting, shareholders of the Fund voted to re-elect two Class I Directors to the Board of Directors.
As of the record date, February 5, 2016, the Fund had outstanding 22,810,321 shares of common stock. 86.8% of outstanding common stock were voted representing a quorum.
The description of the proposal and number of shares voted at the Meeting are as follows:
To elect two Class I Directors to the Board of Directors:
Votes For |
Votes Against |
Votes Withheld |
|
Neville J. Miles |
16,961,243 |
2,390,608 |
456,732 |
Moritz Sell |
16,984,209 |
2,369,602 |
454,772 |
Directors whose term of office continued beyond the Meeting are as follows: P. Gerald Malone, William J. Potter, Peter D. Sacks, John T. Sheehy and Hugh Young.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.
If you wish to receive this information electronically, please contact [email protected]
aberdeeniaf.com
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SOURCE Aberdeen Australia Equity Fund, Inc.
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