The Fund today announced an enhancement to its discount control mechanism, reinforcing the Board of Directors’ (the “Board”) commitment to narrowing the discount between the Fund’s share price and its net asset value (“NAV”) and further aligning shareholders’ returns with the Fund’s long-term investment performance.
As part of this ongoing commitment, the Board has approved a conditional tender offer under which the Fund will conduct a tender for 20 percent of the Fund’s then-issued and outstanding shares at a price equal to 98% of the Fund’s NAV (minus the costs and expenses related to the tender offer). The conditional tender offer will be triggered if either of the following conditions is met at the end of the three-year period commencing July 1, 2026 and ending on June 30, 2029 (the “Measurement Period”):
1.The Fund’s total return investment performance measured on a NAV basis is less than the total return investment performance of the Fund’s benchmark index, the Morgan Stanley Capital International (“MSCI”) Mexico Index; or
2.The Fund’s shares trade at an average price of 90% or lower below NAV over the last twelve months of the Measurement Period.
