The India Fund, Inc. Announces Results Of Annual Meeting Of Shareholders And Changes To Board Of Directors

Rhea-AI Summary

The India Fund, Inc. (NYSE: IFN) held its Annual Meeting of Shareholders on May 27, 2021. Shareholders voted to elect two Class I Directors, Alan Goodson and Jeswald Salacuse, while also approving the continuation of Luis Rubio's term under Corporate Governance Policies. Voting showed a quorum with 71.83% of 26,904,575 outstanding shares. Goodson received 16,526,131 votes for, while Salacuse garnered 16,330,116 votes for his position. Martin J. Gilbert's term expired, and the Board expressed gratitude for his contributions.

Positive

• Election of Alan Goodson and Jeswald Salacuse strengthens the board with fresh perspectives.
• Continuation of Luis Rubio's term ensures stability in governance.

Negative

• Departure of Martin J. Gilbert may pose a continuity concern for the board due to his experience.

PHILADELPHIA, May 27, 2021 /PRNewswire/ -- The India Fund, Inc. (the "Fund") (NYSE: IFN) held its Annual Meeting of Shareholders (the "Meeting") on May 27, 2021.  At the Meeting, shareholders of the Fund voted to elect two Class I Directors to the Board of Directors and to approve the continuation of the term of one Director under the Fund's Corporate Governance Policies.

As of the record date, April 12, 2021, the Fund had outstanding 26,904,575 shares of common stock. 71.83% 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 I Directors to the Board of Directors:

	Votes For	Votes Against	Votes Abstained
Alan Goodson	16,526,131	2,660,628	140,074
Jeswald Salacuse	16,330,116	2,854,373	142,346

To approve the continuation of Term for one Director under the Corporate Governance Policies:

	Votes For	Votes Against	Votes Abstained
Luis Rubio	16,591,151	2,582,018	153,667

Also effective at the shareholder meeting on May 27, 2021, the term of Martin J. Gilbert expired. The Board would like to extend its sincere gratitude to Mr. Gilbert and acknowledge the invaluable contributions that he made to the Fund during his tenure and wish him the best of success in all his future endeavours.  Also effective at the shareholder meeting, the Board appointed Alan Goodson to serve as a Class I Director.

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 Aberdeen Standard Alternative Funds Limited.

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

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SOURCE The India Fund, Inc.

FAQ

What were the results of The India Fund's Annual Meeting of Shareholders?

At the Annual Meeting on May 27, 2021, shareholders elected Alan Goodson and Jeswald Salacuse as Class I Directors and approved the continuation of Luis Rubio's term.

Who were elected as directors during the Annual Meeting?

Alan Goodson and Jeswald Salacuse were elected as Class I Directors during the meeting.

What is the total number of shares that were voted at the meeting for The India Fund?

A total of 71.83% of the outstanding 26,904,575 shares were voted, representing a quorum.

Who is no longer serving on The India Fund's Board of Directors?

Martin J. Gilbert's term expired at the Annual Meeting, and he is no longer serving on the Board.