The Taiwan Fund, Inc. Announces Additional Details Regarding Discount Management Policy
NEW YORK, Sept. 11, 2014 /PRNewswire/ -- The Taiwan Fund, Inc. (TWN) (the "Fund"), announced today additional details regarding the Discount Management Policy announced by the Fund on July 17, 2014. The additional details reflect actions taken by the Fund's Board of Directors at a recent meeting. Following these actions, the Fund's Discount Management Policy is as follows:
The Board has authorized management to make open market purchases in an aggregate amount up to 10% of the Fund's currently outstanding shares when the Fund's shares trade at a discount of more than 9% of net asset value and management reasonably believes that such repurchases may enhance shareholder value. Any repurchases will be disclosed in the Fund's stockholder reports for the relevant fiscal periods and updated in the Fund's monthly reports when repurchases are made.
The Board will regularly review the effectiveness of the Policy. Commencing one year after implementation of the Policy, the Board will formally review the Policy and in consultation with stockholders may consider other actions that, in its judgment, may be effective in addressing the discount.
The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in equity securities listed on the Taiwan Stock Exchange. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol "TWN."
For additional information on the Fund, including information on the Fund's holdings, visit the Fund's website at www.thetaiwanfund.com or call 1-877-864-5056.
SOURCE The Taiwan Fund, Inc.
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