NEW YORK, April 19, 2017 /PRNewswire/ -- The Taiwan
Fund, Inc. (TWN) (the "Fund") announced today the results of its
Annual Stockholders Meeting held on April
18, 2017 (the "Meeting"). The Fund's stockholders elected
four individuals to the Board of Directors (the "Board").
William C. Kirby, Anthony Kai Yiu Lo, Shelley E. Rigger and Anthony S. Clark were elected by stockholders
for one-year terms, expiring in 2018. Michael F. Holland was not re-elected by
stockholders.
Director
|
Votes Cast
for
|
Votes
Against/Withheld
|
William C.
Kirby
|
7,214,316
|
157,823
|
Michael F.
Holland
|
3,292,494
|
4,079,645
|
Anthony Kai Yiu
Lo
|
3,720,043
|
3,652,096
|
Shelley E.
Rigger
|
7,127,817
|
244,322
|
Anthony S.
Clark
|
3,790,439
|
3,581,700
|
Pursuant to the Fund's by-laws, Michael
F. Holland is deemed to have tendered to the Board his
resignation as a Director, with such resignation to take effect 30
days after the date of the Meeting unless the Board unanimously
decides to reject that Director's tender of resignation, in which
case the Director shall continue in office until his death,
resignation or removal or until his successor shall have been
elected and shall have been qualified. Michael F. Holland has been designated as an
Audit Committee Financial Expert for the Fund. After
considering the implications of the failure of Michael F. Holland to be re-elected by
stockholders, the Board unanimously decided that, in view of the
need to identify a person having the qualifications to be
designated as an Audit Committee Financial Expert to replace Mr.
Holland, it would decline the deemed tender of resignation by Mr.
Holland with the understanding that Mr. Holland would tender his
resignation once the Board has designated another Board member as
an Audit Committee Financial Expert. The Board immediately
began the process of actively seeking to identify a Board candidate
who would have the qualifications to be designated as an Audit
Committee Financial Expert for the Fund. Any determinations made by
the Board as a result of this search will be communicated to
stockholders.
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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visit:http://www.prnewswire.com/news-releases/the-taiwan-fund-inc-announces-the-results-of-the-annual-stockholders-meeting-300441836.html
SOURCE The Taiwan Fund, Inc.