Aberdeen Indonesia Fund, Inc. Announcement Of A Special Cash
Election Distribution
PHILADELPHIA, Dec. 7, 2012 /PRNewswire/ -- Aberdeen
Indonesia Fund, Inc. (the "Fund") (NYSE MKT: IF), announced today
that the Fund's Board of Directors has declared a capital gain
distribution in the amount of $2.27950 per share. The capital gain portion of
the distribution is comprised of long-term capital gains
approximately equal to $2.16034 per
share and short-term capital gains approximately equal to
$0.0105 per share. The net investment
income portion of the distribution is approximately equal to
$0.10866 per share.
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The distribution will be payable on January 31, 2013 to stockholders of record on
December 21, 2012. The
distribution will be paid in shares of the Fund's common
stock. Stockholders may, however, request that their
distribution be paid in cash in lieu of common stock. The
Fund will limit the aggregate amount of cash to be paid out in the
distribution to all stockholders to 20% of the aggregate dollar
amount of the total distribution. If cash distribution
requests exceed this limit, the Fund will pro-rate the cash
distribution among all stockholders who have made such requests,
based on the amounts requested. Stockholders electing cash,
who do not receive 100% of their distribution in cash, will receive
the balance in shares of common stock of the Fund.
Stockholder requests to receive cash in lieu of stock must be
received by Computershare Trust Company, N.A., the Fund's transfer
agent, not later than 4 p.m.
(New York time) on January 22, 2013. All fractional shares will be
paid in cash.
The per share value of shares of the Fund's common stock to be
issued in the distribution will be determined on January 23, 2013. The per share value will
be the average trading price of the Fund's common shares on the
NYSE MKT as of the close of trading during a three-business day
period ending on January 23, 2013.
Although the distribution is payable in 2013, it will be treated as
having been paid by the Fund and received by shareholders as of
December 31, 2012.
The Board of Directors considered available options, including
an all-cash distribution or a cash election distribution with
higher caps or no cap on the cash component, and approved the
capped cash election distribution at the proposed 20% level for the
following reasons:
- The size and non-recurring nature of the gains.
- The adverse long-term impact on the Fund's total expense ratio
and investable capital if the distribution was paid entirely in
cash.
- The potential market impact of selling the Fund's portfolio
securities at a time when market conditions are less favorable to
shareholders' long-term interests and the transaction costs
associated with such disposals.
- The tax implications if further gains were generated as a
result of the sale of portfolio securities to raise cash to meet an
all-cash or high-cash distribution.
A written notice of the planned distribution will be sent to
stockholders. The written notice will include instructions on
how stockholders can request to receive cash in lieu of stock.
Shareholders who have questions regarding the distribution may
contact AST Fund Solutions, LLC at 1-866-406-2283.
The Fund is a closed-end management investment company that
seeks long-term capital appreciation as a primary objective and
income as a secondary objective by investing primarily in
Indonesian equity and debt securities.
Aberdeen Indonesia Fund, Inc. is listed on the NYSE MKT under
the ticker symbol "IF".
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. Past performance does not
guarantee future results.
If you wish to receive this information electronically, please
contact: InvestorRelations@aberdeen-asset.com
www.aberdeenif.com
SOURCE Aberdeen Indonesia Fund, Inc.