Aberdeen Japan Equity Fund, Inc. Announces Results Of Annual Meeting Of Stockholders And Retirement Of David Harmer As Director Of The Board

PHILADELPHIA, June 20, 2018 /PRNewswire/ -- Aberdeen Japan Equity Fund, Inc. (the "Fund") (NYSE: JEQ) held its Annual Meeting of Stockholders (the "Meeting") on June 20, 2018. At the Meeting, stockholders of the Fund voted to re-elect one Class I Director to the Board of Directors.

As of the record date, April 27, 2018, there were 13,389,072 outstanding shares of the Fund. 94.38 % of the outstanding shares were voted at the Meeting representing a quorum.

The description of the proposal and number of shares voted at the Meeting are as follows:

To re-elect one Class I Director to the Board of Directors:

Name: Radhika Ajmera Votes For: 11,129,918 Votes Against: 572,433 Abstained: 934,576

Additionally, the Fund announced today that Mr. David Harmer retired from the Fund effective June 12, 2018. Mr. Harmer served on the Fund since 1997. The Board would like to extend its sincere gratitude to Mr. Harmer and acknowledge the invaluable contribution he has made to the Fund during his tenure and wish him the best of success in all his future endeavours. In connection with Mr. Harmer's retirement, the Board reduced the size of the Board to four effective June 12, 2018.

Directors whose term of office continued beyond the Meeting are as follows: Rahn Porter, Richard Herring and Anthony Clark.

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 (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective.

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SOURCE Aberdeen Japan Equity Fund, Inc.