The China Fund, Inc. Announces Appointment of a New Director and Declares Distributions
NEW YORK, December 08, 2014—The Board of Directors (the "Board") of The China Fund, Inc. (NYSE: CHN) (the "Fund") appointed Richard Shore as a Class I Director of the Fund, effective December 5, 2014. Mr. Shore is a founding director of Reneo LLC (since 2014), a strategic consulting firm, and a founding partner of Gilbert LLP (since 2001), a boutique law firm.
Also, the Board of the Fund has declared capital gain and net investment income distributions in the estimated aggregate amount of $3.7651 per share. The capital gain portion of the distributions is comprised of long-term capital gains estimated at $3.4669 per share. The net investment income portion of the distributions is estimated to be $0.2982 per share. The precise amount of the distributions will be determined on the ex-dividend date of the distributions, at which time the Fund will make a further announcement. The distributions will be payable on January 5, 2015 to stockholders of record on December 22, 2014 with an ex-dividend date of December 18, 2014.
The Fund has a Dividend Reinvestment and Cash Purchase Plan (the "Plan") that is open to all stockholders. If the Fund shares trade at a premium to the net asset value of the Fund, the dividend reinvestment provides you as a stockholder the ability to invest in the Fund at an amount less than market price per share. If the Fund is trading at a discount, Plan participants will receive shares of the Fund valued at market price per share. All stockholders may elect to participate in the Plan and may withdraw at any time within the limitations described in the Plan.
Stockholders who have questions regarding the distribution may contact AST Fund Solutions, LLC at 1 888 CHN CALL (246-2255). In addition, the Fund has posted on its website, www.chinafundinc.com, information regarding the distribution, including frequently asked questions.
The Fund is a closed-end management investment company seeking long-term capital appreciation primarily through investment in the equity securities of companies engaged in a substantial amount of business in the People's Republic of China.
The China Fund, Inc. is listed on the New York Stock Exchange under the ticker symbol "CHN".
# # #
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.
Back to Company Announcements