The Board has authorized the Tender Offer in an attempt to provide additional support to the Fund’s existing discount management program as well as to demonstrate its commitment to continuously review alternative options for narrowing the Fund’s discount. In addition, the Board believes that the Tender Offer may help to reduce what appears to be an oversupply in shares of emerging markets closed-end funds, such as the Fund, which appears to have contributed to relatively wide and persistent trading discounts experienced by these funds.
Additional terms and conditions of the Tender Offer will be set forth in the Fund’s offering materials, which are expected to be distributed to common stockholders on or about
In connection with the Tender Offer, the Fund will temporarily suspend its share repurchase program as of
This announcement is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of the Fund. The Fund has not yet commenced the Tender Offer described in this release. Any tender offer will be made only by an Offer to Purchase, a related letter of transmittal and other documents that will be filed with the
The Fund’s daily
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