NEW YORK, Feb. 28, 2017 /PRNewswire/ -- The Taiwan
Fund, Inc. (TWN) (the "Fund"), announced today that it has put in
place arrangements for the repurchase of its shares under the
Fund's Discount Management Policy (the "Policy"). The Policy
was announced originally by the Fund on July
17, 2014 and supplemented on September 11, 2014. Pursuant to the
arrangements, repurchases will be made under circumstances where
stockholder value may be enhanced as a result of the repurchases.
The Fund's Share Repurchase Committee intends to monitor the
effectiveness of the repurchases and may make adjustments in the
repurchase arrangements from time to time. On the business day
following each day on which repurchases occur, the Fund will report
by press release the number of shares repurchased.
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 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.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/the-taiwan-fund-inc-announces-arrangements-for-share-repurchases-under-its-discount-management-policy-300415316.html
SOURCE The Taiwan Fund, Inc.