PHILADELPHIA, Nov. 7, 2016 /PRNewswire/ -- Aberdeen Greater China Fund, Inc. (NYSE: GCH) (the "Fund"), a closed-end equity fund, announced today that the Fund's Board of Directors has approved the renewal of the Fund's share repurchase program. The share repurchase program authorizes management to make open market purchases, from time to time, in a maximum aggregate amount of up to 5% of the Fund's outstanding shares, determined on October 31, 2016, over a one year period. Such purchases may be made opportunistically at certain discounts to net asset value per share ("NAV") when management reasonably believes that such repurchases may enhance shareholder value. Since the commencement of the repurchase program in November 2014 through October 31, 2016, the Fund has repurchased 286,657 shares.
There is no assurance that the Fund will repurchase any of its shares or that the share repurchase program will have an impact on the liquidity, discount, or value of the Fund or the price at which the Fund's shares trade on the NYSE. Share repurchase activity, if any, will continue to be disclosed in the Fund's stockholder reports for the relevant fiscal periods and updated on the Fund's website monthly.
Closed-end funds, such as the Fund, are traded on the secondary market through one of the stock exchanges. The Fund's investment return and net asset 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.
In the United States, Aberdeen Asset Management (AAM) is the marketing name for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Ltd, Aberdeen Asset Management Ltd, Aberdeen Asset Management Asia Ltd and Aberdeen Capital Management, LLC. Excluding Aberdeen Capital Management LLC, each of these advisers are wholly owned by Aberdeen Asset Management PLC. Aberdeen Capital Management LLC is a wholly-owned subsidiary of Aberdeen Asset Management Inc. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
If you wish to receive this information electronically, please contact: InvestorRelations@aberdeen-asset.com
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SOURCE Aberdeen Greater China Fund, Inc.