Hamilton, Bermuda, December 15, 1999 -The Third Annual General Meeting of the $37.7 million The China Heartland Fund Limited, managed by Edinburgh-based Martin Currie, was held in Bermuda on 11 December.
In a letter to the Bermuda Stock Exchange (BSX) received earlier today, the company stated that at the meeting "the Directors had recommended that it was in the best interests of the company and its shareholders for the company to become an open-ended fund. The resolution was passed by 100% of the votes cast at the meeting. The amended byelaws of the company, which incorporated the necessary changes to open-end the fund, were approved and adopted.
The Directors has also recommended the introduction of a 0.5% redemption fee. At the same meeting, this resolution was passed."