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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
Schroder Asian Growth Fund, Inc.
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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)
Payment of Filing Fee (Check the appropriate box):
/x/ No fee required.
/ / Fee computed on table below per Exchange Act Rules 14a-6(i)(1)
and 0-11.
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(3) Per unit price or other underlying value of transaction computed
pursuant to Exchange Act Rule 0-11 (set forth the amount on which the
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/ / Fee paid previously with preliminary materials.
/ / Check box if any part of the fee is offset as provided by Exchange Act Rule
0-11(a)(2) and identify the filing for which the offsetting fee was paid
previously. Identify the previous filing by registration statement number,
or the Form or Schedule and the date of its filing.
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Schroder Asian Growth Fund, Inc.
787 Seventh Avenue, 34th Floor
New York, N.Y. 10019-6016
FOR IMMEDIATE RELEASE
Contact: Mary E. Kunkemueller
Catherine A. Mazza
Schroder Asian Growth Fund, Inc.
1-800-730-2932
SCHRODER ASIAN GROWTH FUND, INC.,
BASED ON POSITIVE SHAREHOLDER RESPONSE,
EXTENDS PERIOD FOR SHAREHOLDER ACTION
TO APPROVE OPEN-ENDING
New York, N.Y., September 17, 1997 -- Schroder Asian Growth Fund, Inc. (NYSE:
SHF) announced today that proxies representing more than 58% of the
holders of the Fund's outstanding shares have voted in favor of the proposal
to open-end the Fund. Approval of the proposal to open-end the Fund requires
the favorable vote of two-thirds of the outstanding shares. To provide time
to contact remaining stockholders entitled to vote in order to obtain the
additional votes required, the Special Meeting of Stockholders held today has
been adjourned until 8:30 a.m., October 1, 1997 at the offices of Debevoise &
Plimpton, counsel to the Fund, 875 Third Avenue, New York, New York.
Shareholder Communications Corporation, the Fund's proxy solicitation agent,
will continue its active efforts to reach all of the Fund's stockholders who
have not yet voted.
In announcing the adjournment, Mr. I. Peter Sedgwick, Chairman of the Fund,
stated, "We have made considerable progress toward the two-thirds required
vote to open-end the Fund. However, the Fund cannot be open-ended without
favorable votes from an additional 1,405,296 shares, or about 8.7% of the total
shares outstanding. The Board of Directors strongly recommends that
stockholders vote in favor of the proposal. Accordingly, we urge
stockholders who are in favor of open-ending the Fund and who have not yet
voted to vote promptly to help us achieve the two-thirds majority required
and avoid additional costs of further solicitation."
Stockholders of record at the close of business on July 18, 1997 are entitled
to vote at the Special Meeting or any adjournment thereof. Stockholders who
have questions or need information can call Shareholder Communications
Corporation toll free at 1-800-733-8481 extension 484.
The Fund is a non-diversified closed-end U.S. registered investment company.
The Fund, with current assets of approximately $192 million, invests
primarily in equity securities of Asian companies.
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SCHRODER ASIAN GROWTH FUND, INC.
787 Seventh Avenue
New York, New York 10019
NOTICE: SPECIAL MEETING OF STOCKHOLDERS
TO BE ADJOURNED TO OCTOBER 1, 1997
Dear Stockholder:
Recently you were mailed proxy material for the SEPTEMBER 17, 1997 Special
Meeting of Stockholders. Due to inadequate stockholder response, the meeting
has been adjourned to OCTOBER 1, 1997, in order to give you additional time
to register your vote. Contrary to many stockholders' belief, all votes are
vital no matter how many shares you hold and YOUR SHARES CANNOT BE
REPRESENTED UNLESS WE RECEIVE VOTING INSTRUCTIONS FROM YOU! In order for
your shares to be represented, you need to vote on or before WEDNESDAY,
OCTOBER 1, 1997.
The main objective of the Special Meeting is to consider a proposal by the
Board of Directors to convert the Fund from a closed-end investment company
to an open-end investment company (the "Conversion"). The Fund is presently
organized as a closed-end fund with shares listed for trading on the New York
Stock Exchange (the "NYSE"). If the Fund converts to an open-end structure,
stockholders will be able to realize the value of their shares by redeeming
them at net asset value ("NAV") so that there will not be any market price
discount to NAV.
THE BOARD OF DIRECTORS HAS UNANIMOUSLY APPROVED THE CONVERSION AND STRONGLY
RECOMMENDS THAT STOCKHOLDERS VOTE FOR THE APPROVAL OF THE OPEN-ENDING
PROPOSAL.
There are two easy methods by which you can vote at the Special Meeting of
Stockholders to be held on October 1, 1997.
1. BY PHONE: Simply dial 1-800-733-8481, EXTENSION "484" between the hours of
9:00 a.m. and 11:00 p.m. Eastern Time.
2. BY MAIL: Return your executed proxy in the enclosed postage paid envelope.
We urge you to act promptly in order to allow the Fund to obtain a sufficient
number of votes at the Special Meeting, avoiding any further adjournments in
order to continue gathering votes.
Thank you for acting promptly.
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