PHILADELPHIA, Sept. 23, 2015 /PRNewswire/ -- The India Fund, Inc. (NYSE: IFN) and The Asia Tigers Fund, Inc. (NYSE: GRR) (each a "Fund" and collectively, the "Funds"), each a closed-end equity fund, announced today that each Fund's Board of Directors (each a "Board" and collectively the "Boards") approved changes to its corporate governance practices.  Specifically, each Board approved an amendment to the Fund's By-Laws, to become effective on September 30, 2015, to provide for the election of directors by a majority of the votes cast at a meeting of stockholders at which a quorum is present, except in contested elections, where a director shall be elected by a plurality vote. Each Fund's By-laws previously provided that directors be elected by a plurality vote in all director elections.

At the same time, each Board also adopted certain corporate governance policies for the Fund to become effective on September 30, 2015.  The corporate governance policies include (i) a resignation policy, which generally provides that a director who does not receive a majority of votes "For" his or her election at a meeting of stockholders shall be deemed to have tendered his or her resignation, subject to the Board's acceptance or rejection of such resignation, which Board determination will be disclosed publicly to Fund stockholders; and (ii) a policy requiring that after an independent director has served on the Board for three consecutive three-year terms following the later of the appointment of the Fund's then-current investment manager and the initial election of the director by the Fund's stockholders, the director will be put forth for consideration by stockholders annually. The failure to obtain a majority of votes cast will trigger the resignation policy described above.  Although the charter of each Fund provides that the Board be classified into three classes with the directors in each class having a term of three years, under the new corporate governance policies, directors are agreeing to submit to annual elections once they have completed the three consecutive three-year terms noted above.

Closed-end funds are traded on the secondary market through one of the stock exchanges. Each 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. There is no assurance that each 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

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SOURCE The India Fund, Inc.; The Asia Tigers Fund, Inc.