NEW YORK, March 9, 2012 /PRNewswire/ -- The China Fund, Inc. (the "Fund") (NYSE: CHN) announces that at the Annual Stockholders Meeting held on March 8, 2012, the proposal for the election of two Class I Directors for a term expiring on the date on which the annual meeting of stockholders is held in 2015 was approved. The proposal to approve the proposed Investment Advisory and Management Agreement and the proposed Direct Investment Management Agreement (the "Proposed Agreements") between the Fund and RCM Asia Pacific Limited was not approved.
The Proposed Agreements will be re-submitted to stockholders for approval at a Special Meeting of the stockholders of the Fund. The Board set April 5, 2012 as the date of the Fund's special stockholders meeting, with March 19, 2012 being the record date for that meeting. RCM Asia Pacific Limited will continue to manage the Fund under an interim Investment Advisory and Management Agreement and an interim Direct Investment Management Agreement pending stockholder approval of the Proposed Agreements.
The Fund is a closed-end management investment company with the investment objective of long-term capital appreciation which it seeks to achieve by investing primarily in equity securities (i) of companies for which the principal securities trading market is the People's Republic of China (" China"), (ii) of companies for which the principal securities trading market is outside of China, or constituting direct equity investments in companies organized outside of China, that in both cases derive at least 50% of their revenues from goods and services sold or produced, or have at least 50% of their assets, in China and (iii) constituting direct equity investments in companies organized in China. The China Fund, Inc. is 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
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV