Aberdeen Japan Equity Fund, Inc. Announces Results Of Annual Meeting Of Stockholders And Changes To Board Of Directors

Rhea-AI Summary

Aberdeen Japan Equity Fund, Inc. (NYSE: JEQ) held its Annual Meeting of Stockholders on May 27, 2021, where shareholders voted to elect Radhika Ajmera as a Class I Director and P. Gerald Malone as a Class III Director. A total of 91.17% of outstanding shares were voted, with Ajmera receiving 9,908,684 votes in favor and Malone receiving 10,215,461 votes. Additionally, Richard J. Herring retired from the board, and the board expressed gratitude for his contributions. The Fund had 13,408,535 shares of common stock outstanding as of the record date, April 12, 2021.

Positive

• High voter participation with 91.17% of outstanding shares voted.
• Election of Radhika Ajmera and P. Gerald Malone expected to bring new perspectives to the board.

Negative

• Retirement of Richard J. Herring may create continuity concerns.

PHILADELPHIA, May 27, 2021 /PRNewswire/ -- Aberdeen Japan Equity Fund, Inc. (the "Fund") (NYSE : JEQ) held its Annual Meeting of Stockholders (the "Meeting") on May 27, 2021.  At the Meeting, shareholders of the Fund voted to elect one Class I Director and one Class III Director to the Board of Directors.

As of the record date, April 12, 2021, the Fund had outstanding 13,408,535 shares of common stock. 91.17% 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 one Class I Director to the Board of Directors:

	Votes For	Votes Against	Votes Abstained
Radhika Ajmera	9,908,684	2,297,886	17,782

To elect one Class III Director to the Board of Directors:

	Votes For	Votes Against	Votes Abstained
P. Gerald Malone	10,215,461	1,990,854	18,037

Also effective at the shareholder meeting on May 27, 2021, Richard J. Herring retired from the Fund pursuant to the Fund's retirement policy. The Board would like to extend its sincere gratitude to Mr. Herring and acknowledge the invaluable contributions he has made to the Fund during his tenure and wish him the best of success in all his future endeavours.  Effective upon the retirement of Mr. Herring, the Board appointed P. Gerald Malone to serve as a Class III 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

aberdeenjeq.com

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SOURCE Aberdeen Japan Equity Fund, Inc.

FAQ

What were the results of the Aberdeen Japan Equity Fund's annual meeting on May 27, 2021?

The meeting resulted in the election of Radhika Ajmera as a Class I Director and P. Gerald Malone as a Class III Director.

How many shares were voted at the Aberdeen Japan Equity Fund meeting?

91.17% of the 13,408,535 outstanding shares were voted at the meeting.

Who retired from the Aberdeen Japan Equity Fund board during the annual meeting?

Richard J. Herring retired from the board pursuant to the Fund's retirement policy.

What is the stock symbol for Aberdeen Japan Equity Fund?

The stock symbol for Aberdeen Japan Equity Fund is JEQ.