Section 240.14a-101 Schedule 14A.
Information required in proxy statement.
SCHEDULE 14A INFORMATION
PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE SECURITIES
Exchange Act of 1934
(Amendment No. )
Filed by the Registrant [X]
Filed by a party other than the Registrant [_]
Check the appropriate box:
[_] Preliminary Proxy Statement
[_] Confidential, for Use of the Commission Only (as permitted
by Rule 14a-6(e)(2))
[_] Definitive Proxy Statement
[X] Definitive Additional Materials
[_] Soliciting Material Pursuant to Section 240.14a-11(c) or Section 240.14a-12
TAIWAN GREATER CHINA FUND
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(Name of Registrant as Specified In Its Charter)
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(Name of Person(s) Filing Proxy Statement, if other than the Registrant)
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CITIGATE
FINANCIAL
INTELLIGENCE
P R E S S R E L E A S E
FOR IMMEDIATE RELEASE
CONTACTS:
Steven R. Champion, Taiwan Greater
China Fund, 011-886-2-2715-2988
Patricia Baronowski
Citigate Financial Intelligence, 201-499-3500
Web site: http://www.taiwangreaterchinafund.com
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TAIWAN GREATER CHINA FUND
ANNOUNCES THAT ISS
RECOMMENDS SHAREHOLDERS VOTE WITH MANAGEMENT
(New York, New York, July 8, 2004) The Taiwan Greater China Fund (NYSE: TFC), a
diversified closed-end registered investment company listed on the New York
Stock Exchange, announced today Institutional Shareholder Services (ISS), the
most prominent adviser to institutional shareholders with regard to how to vote
their shares concerning proxy matters, has recommended that shareholders of the
Fund vote in accordance with the recommendations of the management of the Fund
at the Fund's 2004 Annual Meeting of Shareholders that is scheduled to take
place on July 21, 2004.
In particular, ISS has recommended that shareholders vote:
(1) FOR the election of the two trustees nominated by the Fund's
Board; and
(2) AGAINST the proposal, required by the Fund's Declaration of
Trust and By-laws to be presented for a shareholder vote, to
convert the Fund into an open-end investment company.
Robert Parker, chairman of the Fund's Board of Trustees, expressed the
appreciation of the Board when he noted, "ISS is a highly regarded and well
known independent organization, and the Board welcomes the recommendations made
by ISS. We believe that these recommendations reflect the recognition by ISS of
the fact that the Board has taken various actions this year to address concerns
expressed by our shareholders in a manner that the Board expects will increase
long-term shareholder value. We also continue to appreciate the support of City
of London Investment Management Group, which owns approximately 12.5% of the
Fund's outstanding shares, for the Board's recommendation that shareholders vote
against the proposal to convert the Fund into an open-end investment company."
-more-
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CITIGATE
FINANCIAL
INTELLIGENCE
-2-
Separately, the Fund announced that it had declared a dividend of US$.01 a
share, payable on July 30, 2004 to shareholders of record on July 12, 2004
(ex-date July 8, 2004).
The Taiwan Greater China Fund is listed and publicly traded in the United
States. The Fund is organized for investment in securities of Taiwan issuers by
non-Taiwan investors and follows an investment strategy of primarily investing
in Taiwan listed companies that derive or expect to derive a significant portion
of their revenues from operations in or exports to mainland China.
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