NEW YORK, July 29, 2013 /PRNewswire/ -- The Taiwan
Fund, Inc. (NYSE: TWN) (the "Fund"), announced today that the
Fund's Board of Directors has voted to discontinue the operation of
the Fund's Discount Management Program. Effective at the
close of business on July 30, 2013,
the Fund will cease repurchases of its common shares pursuant to
the Discount Management Program.
The Fund also announced that the Board of Directors has voted to
approve implementation of a managed distribution program for the
Fund with quarterly distributions payable at a target annual
distribution rate of 5% of market price. Implementation of
the program is subject to obtaining regulatory approvals, which may
take six months or more. The target distribution rate will be
reevaluated upon obtaining regulatory approvals and prior to the
implementation of the managed distribution program.
The Fund is a diversified closed-end investment company, which
seeks long term capital appreciation primarily through investments
in equity securities listed on the Taiwan Stock Exchange.
Shares of the Fund are listed on the New York Stock Exchange under
the ticker symbol "TWN."
For additional information on the Fund, including information on
the Fund's holdings, visit the Fund's website at
www.thetaiwanfund.com or call 1-877-864-5056.
SOURCE The Taiwan Fund, Inc.