Greater China Fund (GCH) Elects Two Directors, Terminates IAA Agreement with Baring
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The Greater China Fund, Inc. (NYSE: GCH) (the "Fund") announced today the results of its 2012 Annual Meeting of Stockholders. At the meeting, stockholders elected John A. Hawkins and Tak Lung Tsim, each as a Class III director for a term of three years.
Stockholders also voted on a proposal by City of London Management Company to terminate the Fund's Investment Advisory Agreement with Baring Asset Management (Asia) Ltd. ("Baring"), the Fund's Investment Manager. The proposal received the favorable vote of a majority of the Fund's outstanding shares and therefore was approved. As a result, the Fund's agreement with Baring will terminate in 60 days. The Fund's Board of Directors will meet in due course to consider an appropriate course of action.
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Stockholders also voted on a proposal by City of London Management Company to terminate the Fund's Investment Advisory Agreement with Baring Asset Management (Asia) Ltd. ("Baring"), the Fund's Investment Manager. The proposal received the favorable vote of a majority of the Fund's outstanding shares and therefore was approved. As a result, the Fund's agreement with Baring will terminate in 60 days. The Fund's Board of Directors will meet in due course to consider an appropriate course of action.
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