PHILADELPHIA, March 30, 2017 /PRNewswire/ -- Aberdeen Indonesia Fund, Inc. (the "Fund") (NYSE MKT: IF) held its Annual Meeting of Shareholders (the "Meeting") on March 30, 2017. At the Meeting, shareholders of the Fund did not vote to re-elect one Class II Director nominated to serve on the Board of Directors.
As of the record date, February 6, 2017, there were 9,283,821 outstanding shares of the Fund. 79.50% of the outstanding shares were voted at the Meeting representing a quorum.
The description of the proposal and number of shares voted at the Meeting are as follows:
To elect one Class II Director to the Board of Directors:
Lawrence J. Fox
Pursuant to the Fund's corporate governance policy, because the votes against exceeded the votes for his election, Lawrence J. Fox is deemed to have tendered to the Board his resignation as a Director for consideration by the Board. The Board has accepted the resignation.
Directors whose term of office continues beyond the Meeting are as follows: Enrique R. Arzac, James J. Cattano and Steven N. Rappaport.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.
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