The Malaysia Fund, Inc. Announces Amendment to Discount Management Policy
April 07 2011 - 6:30PM
Business Wire
The Board of Directors of The Malaysia Fund, Inc. (NYSE: MAY)
(the “Fund”) approved an amendment to the Fund’s Discount
Management Policy, which is designed to attempt to narrow the
trading discounts for the Fund (the “Policy”). The Policy, as
amended, requires the Fund to conduct up to four consecutive,
semi-annual tender offers, each to purchase up to 5 percent of the
Fund’s outstanding shares of common stock for cash at a price equal
to 98 percent of its net asset value per share as of the close of
trading on the New York Stock Exchange on the day after the date on
which the tender offer expires, if the Fund’s shares trade at an
average discount of at least 10 percent over a 12-week period. The
amended Policy no longer includes a condition relating to the
Fund’s average trailing 18-month premium/discount. The amended
Policy is intended to be responsive to the concerns of Fund
stockholders. The first 12-week measurement period under the
amended Policy will commence April 11, 2011. For the 12-week period
ended April 1, 2011, the Fund’s average discount was 9.81
percent.
The Board of the Fund will continue to periodically monitor
whether any additional action with respect to the Fund's trading
discount is necessary and in the best interests of the Fund and its
stockholders.
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investment advisory affiliates, has more than 700 investment
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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.
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