BOSTON, Oct. 22, 2015 /PRNewswire/ -- The Taiwan Fund,
Inc. (TWN) (the "Fund"), announced today that, following a review
by the Board of Directors of the Fund (the "Board") of the Fund's
Discount Management Policy (the "Policy"), including consultation
with the Fund's principal stockholders, the Board determined to
continue the Policy announced originally by the Fund on
July 17, 2014 and supplemented on
September 11, 2014. The Policy is as
follows:
The Board has authorized management to make open market
purchases in an aggregate amount up to 10% of the Fund's currently
outstanding shares when the Fund's shares trade at a discount of
more than 9% of net asset value and management reasonably believes
that such repurchases may enhance shareholder value. Any
repurchases will be disclosed in the Fund's stockholder reports for
the relevant fiscal periods and updated in the Fund's monthly
reports when repurchases are made.
The Board will regularly review the effectiveness of the Policy.
Commencing one year after implementation of the Policy, the Board
will formally review the Policy and in consultation with
stockholders may consider other actions that, in its judgment, may
be effective in addressing the discount.
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.
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SOURCE The Taiwan Fund, Inc.