JERSEY CITY, NJ, Jun. 7, 2010 (Marketwire) --
JERSEY CITY, NJ -- (Marketwire) -- 06/07/10 -- The Singapore Fund, Inc. (NYSE: SGF), a closed-end management investment company seeking long-term capital appreciation through investment primarily in Singapore equity securities, held its Annual Meeting of Stockholders (the "Meeting") June 2, 2010 at the New York City offices of Daiwa Capital Markets America Inc.
The holders of approximately 77.8% of the shares entitled to vote were present in person or represented by proxy at the Meeting, constituting a quorum.
Mr. David G. Harmer and Mr. Rahn K. Porter were elected as Class I directors of the Fund to serve for a term expiring on the date on which the Annual Meeting of Stockholders is held in the year 2013.
A non-binding shareholder proposal to adopt an interval fund structure, whereby the Fund would conduct periodic tender offers at least semiannually for at least 10% of its currently outstanding shares at a price of at least 98% of net asset value (NAV), received favorable votes from 39.3% of the outstanding shares. 9.4% of the outstanding shares voted against the proposal and the remainder of the outstanding shares abstained or failed to vote.
There were no other matters considered or voted upon at the Meeting.
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John J. O'Keefe
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