PHILADELPHIA, Dec. 12, 2014 /PRNewswire/ -- Aberdeen Japan Equity Fund, Inc. (NYSE: JEQ) (the "Fund") announced today that the Fund's Board of Directors has approved a revision to the previously disclosed Discount Management Program announced on May 23, 2012. The revision is effective immediately and authorizes management to make open market purchases, from time to time, in a maximum aggregate amount during each twelve month period ended October 31 of up to 10% of the Fund's shares of stock outstanding as of October 31 of the prior year. Such purchases may be made opportunistically at certain discounts to net asset value per share when, in the reasonable judgment of management based on historical discount levels and current market conditions, such repurchases may enhance stockholder value.
There is no assurance the Fund will purchase any shares or that the Discount Management Program will have an impact on the liquidity or value of the Fund or the Fund's shares. Share repurchase activity will be disclosed in the Fund's stockholder reports for the relevant fiscal periods and updated on the Fund's website monthly.
Important Information
Aberdeen Japan Equity Fund, Inc. is a closed-end management investment company that seeks to outperform over the long term, on a total return basis (including appreciation and dividends), the Tokyo Stock Price Index, a composite market-capitalization weighted index of all common stocks listed on the First Section of the Tokyo Stock Exchange. The Fund's shares are traded on the New York Stock Exchange under the trading symbol "JEQ".
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 of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.
Aberdeen Asset Management is the marketing name in the United States for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Limited, Aberdeen Asset Management Ltd. and Aberdeen Asset Management Asia Limited (collectively, the "Aberdeen Advisers"). Each of the Aberdeen Advisers is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
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aberdeenjeq.com
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SOURCE Aberdeen Japan Equity Fund, Inc.
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