JPMorgan China Region Fund, Inc. Board to Submit Proposal for Liquidation of the Fund to Vote of Stockholders at Next Annual ...
February 16 2017 - 1:37PM
Business Wire
JPMorgan China Region Fund, Inc. (‘JFC’ or the ‘Fund’) announced
today that the Board of Directors of the Fund has determined to
submit a proposal to liquidate the Fund to a vote of all
stockholders at the Fund’s next Annual Meeting of Stockholders,
which is scheduled to be held on May 11, 2017.
If Stockholders vote to approve the proposal, proceeds will be
paid to Stockholders pursuant to a plan of liquidation.
Stockholders should note that any proceeds attributable to the
Fund’s investments in China A-shares may only be repatriated under
certain conditions including clearance from the People's Republic
of China tax authorities and upon the approval of the Chinese State
Administration of Foreign Exchange. Such proceeds will only be
distributed to Stockholders upon such approvals being granted; the
timing of which is unclear. In the interests of expediting this
process the Fund has already commenced discussions with its tax
advisers in relation to the repatriation process.
Further information regarding the liquidation proposal will be
included in the proxy materials that will be mailed to Stockholders
in advance of the Stockholders meeting.
The Fund is a non-diversified, closed-end management investment
company whose shares are traded on the New York Stock Exchange. The
Fund trades under the symbol “JFC.”
The Fund seeks to achieve long-term capital appreciation through
investments primarily in equity securities of companies with
substantial assets in, or revenues derived from, the People's
Republic of China, Hong Kong, Taiwan and Macau—collectively, the
China Region.
Certain information discussed in this press release may
constitute forward-looking statements within the meaning of the
United States federal securities laws. Although the Fund believes
that the expectations reflected in such forward-looking statements
are based on reasonable assumptions, the Fund can give no assurance
that its expectations will be achieved. Forward-looking information
is subject to certain risks, trends and uncertainties that could
cause actual results to differ materially from those projected.
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.
Investing involves risk and it is possible to lose money on any
investment in the Fund. Past performance is no guarantee of future
returns.
Copies of the documents filed with the Securities & Exchange
Commission by the Fund are available free of charge on the Fund’s
internet website at http://www.jpmchinaregionfund.com
JPMorgan Fund Services, in Boston, MA is the Fund’s accounting
and administrative agent.
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JPMorgan China Region Fund, Inc.Simon Crinage, President and
Interested DirectorLucy Dina, SecretaryTelephone: +44 20 7742
4000Email: lucy.j.dina@jpmorgan.comWebsite:
http://www.jpmchinaregion.com
JPMorgan China Region Fund, Inc. (NYSE:JFC)
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