The China Fund, Inc. Announces the Results of a Special Meeting of Stockholders
New York, New York, August 30, 2017 – The China Fund, Inc. (NYSE: CHN) (the “Fund”) announced today the results of a Special Meeting of Stockholders convened on June 20, 2017, adjourned and then reconvened on July 25, 2017 and adjourned and then reconvened on August 30, 2017 to approve by the required vote the proposed Investment Advisory and Management Agreement and the proposed Direct Investment Management Agreement, each between the Fund and Open Door Investment Management, Ltd. (“Open Door”). The results are as follows:
While there was strong stockholder support for this proposal with over 60% of the shares voting in favor of the selection of Open Door, the favorable votes failed to meet the required level for regulatory purposes (a majority of outstanding shares).
As a result, the Fund will continue to be advised by Allianz Global Advisors U.S. LLC (“AGI”) under the Fund's existing Amended and Restated Investment Advisory and Management Agreement and Amended and Restated Direct Investment Management Agreement, each with AGI.
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The Fund is a diversified closed-end investment company, which seeks long term capital appreciation primarily through investments in China companies. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol “CHN.”
For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL or visit the Fund's website at www.chinafundinc.com.
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