PHILADELPHIA, May 6, 2020 /PRNewswire/ -- Aberdeen
Australia Equity Fund, Inc. (the "Fund") (NYSE American:
IAF) held its Annual Meeting of Shareholders (the "Meeting")
on May 6, 2020. At the Meeting,
shareholders of the Fund voted to re-elect two Class II Directors
to the Board of Directors and to approve the continuation of the
term of two Directors under the Fund's Corporate Governance
Policies.
As of the record date, March 5,
2020, the Fund had outstanding 22,742,326 shares of common
stock. 82.7% of outstanding common stock were voted representing a
quorum.
The description of the proposal and number of shares voted at
the Meeting are as follows:
To elect two Class II Directors to the Board of Directors:
|
Votes For
|
Votes
Against/Withheld
|
Votes
Abstained
|
|
P. Gerald
Malone
|
17,085,477
|
1,718,845
|
518
|
|
Peter D.
Sacks
|
17,457,922
|
1,346,400
|
518
|
To approve the continuation of Term for two Directors under the
Corporate Governance Policies
|
Votes For
|
Votes
Against/Withheld
|
Votes
Abstained
|
|
Neville J.
Miles
|
17,053,866
|
1,749,248
|
1,726
|
|
Moritz
Sell
|
17,128,549
|
1,674,565
|
1,726
|
Directors whose term of office continued beyond the Meeting are
as follows: Martin Gilbert and
William J. Potter.
In the United States, Aberdeen
Standard Investments is the marketing name for the following
affiliated, registered investment advisers: Aberdeen Standard
Investments Inc., Aberdeen Asset Managers Ltd., Aberdeen Standard
Investments Australia Ltd., Aberdeen Standard Investments
(Asia) Ltd., Aberdeen Capital
Management, LLC, Aberdeen Standard Investments ETFs Advisors LLC
and Standard Life Investments (Corporate Funds) Ltd.
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.
If you wish to receive this information
electronically, please contact
InvestorRelations@aberdeenstandard.com
aberdeeniaf.com
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SOURCE Aberdeen Australia Equity Fund, Inc.