The Asia Pacific Fund, Inc. Board to Submit Proposal for Liquidation of the Fund to Vote of Stockholders
ASIA PACIFIC FUND COMMON (APB)
US:NYSE Investor Relations:
asiapacificfund.com
Company Research
Source: GlobeNewswire
NEW YORK, May 23, 2018 (GLOBE NEWSWIRE) -- The Asia Pacific Fund, Inc. (NYSE:APB) (the “Fund”) announced today that the Board of Directors (‘Board’) of the Fund will submit a proposal to stockholders to liquidate the Fund at the Fund’s 2018 Annual Meeting of Stockholders, unless the Board identifies a viable merger partner by its next Board meeting. The Board has decided to submit the liquidation proposal to stockholders at the request of institutional stockholders. The Board believes that the Asia Pacific region remains a favorable investment opportunity for stockholders. In addition, the Board notes that as of March 31, 2018 (according to information provided by the Fund’s investment adviser and Thomson Reuters), the Fund’s price-to-earnings and price-to-book multiples and its yield compared very favorably to its benchmark index, which is the MSCI AC Asia ex-Japan Index: FundBenchmark Price to earnings8.9x12.5xPrice to book1.2x1.7xYield4.2%2.2% Accordingly, the Board will
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