Franklin Templeton Investments Corp. announced today that the special meeting for unitholders of Templeton Emerging Markets Appreciation Fund has been adjourned until July 6, because the two-thirds quorum requirement for the meeting was not satisfied.

The purpose of the meeting is to consider merging the closed-end fund into the open-end Templeton Emerging Markets Fund. More than 60% of the units of the fund were represented at the meeting in person or by proxy.

Of the units represented at the meeting today by proxy, more than 99% are in favour of the merger. This adjournment will allow unitholders who have not yet voted to do so.

“Unitholders are overwhelmingly in favour of the merger proposal,” said Don Reed, President and CEO of Franklin Templeton Investments Corp. “The adjournment allows additional time to reach a quorum to approve the merger.”

Approval of the merger proposal requires approval by at least 75% of the votes cast at that meeting. Quorum for the meeting is two-thirds of the outstanding units.