Key Developments: Korea Fund Inc (KF)

Korea Fund Inc. Announces New Share Repurchase Program
Monday, 31 Oct 2011 09:20am EDT 

Korea Fund Inc. announced a new share repurchase program under which the Fund will repurchase, commencing November 1, 2011, its common shares in the open market on any day that the Fund’s shares are trading at a discount of 8% or more from net asset value the prior day and there is a daily average discount of 8% or more from net asset value over the 5-day period ending the prior day. Under the program, the Fund is authorized to repurchase in each 12 month period ended October 31 up to 10% of its common shares outstanding as of October 31 the prior year. The new repurchase program replaces the Fund’s existing share repurchase program announced in March 2010, under which the Fund was authorized to repurchase from time to time in the open market up to 5% of its common shares outstanding as of February 22, 2010.  Full Article