SEC Info - Ibero-America Fund Inc - ‘DEF 14A’ for 8/24/95

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Ibero-America Fund Inc – ‘DEF 14A’ for 8/24/95

As of: Thursday, 7/27/95 · For: 8/24/95 · Accession #: 919574-95-262 · File #: 811-05189

  As Of                Filer                Filing    For·On·As Docs:Size              Issuer               Agent

 7/27/95  Ibero-America Fund Inc            DEF 14A     8/24/95    1:30K                                    Seward & Kissel LLP

Definitive Proxy Solicitation Material — Schedule 14A
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: DEF 14A     Definitive Proxy Solicitation Material                13     55K

Document Table of Contents

Page	(sequential)	\|	(alphabetic)	Top
			Alternative Formats (Word, et al.) Introduction Other Matters Reports to Stockholders Submission of Proposals for the Next Annual Meeting of Stockholders
1	1st Page - Filing Submission
3	Introduction
9	Submission of Proposals for the Next Annual Meeting of Stockholders
10	Other Matters
"	Reports to Stockholders

DEF 14A 1st Page of 13 TOC ↑Top Previous Next ↓Bottom Just 1st
 
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))                       
/X /     Definitive Proxy Statement                                             
/  /     Definitive Additional Materials                                        
/  /     Soliciting Material Pursuant to Section 240.14a-11(c) or Section       
240.14a-12                                                    

The Spain Fund, Inc.  
------------------------------------------------------------------------------- 
(Name of Registrant as Specified In Its Charter)  
------------------------------------------------------------------------------- 
(Name of Person(s) Filing Proxy Statement if other than the Registrant) 

Payment of Filing Fee (Check the appropriate box):                              
/X /     $125 per Exchange Act Rules 0-11(c)(1)(ii), 14a-6(i)(1), 14a-6(i)(2)or 
Item 22(a)(2) of Schedule 14A.                                
/  /     $500 per each party to the controversy pursuant to Exchange Act Rule   
14a-6(i)(3).                                                  
/  /     Fee computed on table below per Exchange Act Rule 14a-6(i)(4) and 0-11.

      (1)  Title of each class of securities to which transaction applies:
------------------------------------------------------------------------------- 
   (2)  Aggregate number of securities to which transaction applies:
------------------------------------------------------------------------------- 
       (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
filing fee is calculated and state how it was determined):    
------------------------------------------------------------------------------- 
(4)  Proposed maximum aggregate value of transaction:         
------------------------------------------------------------------------------- 
(5)  Total fee paid:                                          
------------------------------------------------------------------------------- 
/   /    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.

(1)  Amount Previously Paid:                                  
(2)  Form, Schedule or Registration Statement No.:            
(3)  Filing Party:                                            
(4)  Dated Filed:                                             

00250031/AW0                                                                    

DEF 14A 2nd Page of 13 TOC 1st Previous Next ↓Bottom Just 2nd
[LOGO OF ALLIANCE CAPITAL APPEARS HERE]                     THE SPAIN FUND, INC.
------------------------------------------------------------------------------- 

1345 Avenue of the Americas, New York, New York 10105                           
Toll Free (800) 221-5672                                                        
------------------------------------------------------------------------------- 

NOTICE OF ANNUAL MEETING OF STOCKHOLDERS  
AUGUST 24, 1995 

To the Stockholders of The Spain Fund, Inc.:                                    

Notice is hereby given that an Annual Meeting of Stockholders (the          
"Meeting") of The Spain Fund, Inc. (the "Fund") will be held at the offices of  
the Fund, 1345 Avenue of the Americas, 33rd Floor, New York, New York 10105,    
on Thursday, August 24, 1995 at 11:00 a.m., for the following purposes, all of  
which are more fully described in the accompanying Proxy Statement dated July   
24, 1995:                                                                       

1. To elect five Directors of the Fund, each to hold office for a term of   
three years and until his or her successor is duly elected and qualified;       

2. To ratify the selection of Price Waterhouse LLP as independent           
accountants of the Fund for its fiscal year ending November 30, 1995; and       

3. To transact such other business as may properly come before the Meeting. 

The Board of Directors has fixed the close of business on June 27, 1995 as  
the record date for the determination of stockholders entitled to notice of,    
and to vote at, the Meeting or any adjournment thereof. The enclosed proxy is   
being solicited on behalf of the Board of Directors.                            

                                 By order of the Board of Directors,

                   Edmund P. Bergan, Jr.
           Secretary

New York, New York                                                              
July 24, 1995                                                                   

------------------------------------------------------------------------------- 

YOUR VOTE IS IMPORTANT  
PLEASE INDICATE YOUR VOTING INSTRUCTIONS ON THE ENCLOSED PROXY CARD, SIGN   
AND DATE IT, AND RETURN IT IN THE ENVELOPE PROVIDED, WHICH NEEDS NO POSTAGE IF  
MAILED IN THE UNITED STATES. IN ORDER TO SAVE THE FUND ANY ADDITIONAL EXPENSE   
OF FURTHER SOLICITATION, PLEASE MAIL YOUR PROXY PROMPTLY.                       
------------------------------------------------------------------------------- 
(R)This registered service mark used under license from the owner, Alliance     
Capital Management L.P.                                                   

DEF 14A 3rd Page of 13 TOC 1st Previous Next ↓Bottom Just 3rd
PROXY STATEMENT 

THE SPAIN FUND, INC.  

1345 AVENUE OF THE AMERICAS 
NEW YORK, NEW YORK 10105  

----------------  

ANNUAL MEETING OF STOCKHOLDERS  

AUGUST 24, 1995 

----------------  

INTRODUCTION  

This Proxy Statement is furnished in connection with the solicitation of    
proxies on behalf of the Board of Directors of The Spain Fund, Inc., a          
Maryland corporation ("the Fund"), to be voted at the Annual Meeting of         
Stockholders of the Fund (the "Meeting"), to be held at the offices of the      
Fund, 1345 Avenue of the Americas, 33rd Floor, New York, New York 10105, on     
Thursday, August 24, 1995 at 11:00 a.m. The solicitation will be by mail and    
the cost will be borne by the Fund. The Notice of Meeting, Proxy Statement and  
Proxy Card are being mailed to stockholders on or about July 24, 1995.          

The Board of Directors has fixed the close of business on June 27, 1995 as  
the record date for the determination of stockholders entitled to notice of,    
and to vote at, the Meeting and at any adjournment thereof. The outstanding     
voting shares of the Fund as of June 27, 1995 consisted of 10,026,745 shares    
of common stock, each share being entitled to one vote. All properly executed   
proxies received prior to the Meeting will be voted at the Meeting in           
accordance with the instructions marked thereon or otherwise provided therein.  
Accordingly, unless instructions to the contrary are marked, proxies will be    
voted for the election of five Directors and for the ratification of the        
selection of Price Waterhouse LLP as the Fund's independent accountants for     
its fiscal year ending November 30, 1995. Any stockholder may revoke that       
stockholder's proxy at any time prior to exercise thereof by giving written     
notice to the Secretary of the Fund at 1345 Avenue of the Americas, New York,   
New York 10105, by signing another proxy of a later date or by personally       
voting at the Meeting.                                                          

A quorum for the Meeting will consist of a majority of the shares           
outstanding and entitled to vote. In the event that a quorum is not             
represented at the Meeting or, even if a quorum is so represented, in the       
event that sufficient votes in favor of any proposal set forth in the Notice    
of Meeting are not received by August 24, 1995, the persons named as proxies    
may propose and vote for one or more adjournments of the Meeting with no other  
notice than announcement at the Meeting, and further solicitation of proxies    
with respect to such proposal may be made. Shares represented by proxies        
indicating a vote against any proposal will be voted against adjournment.       

PROPOSAL ONE  

ELECTION OF DIRECTORS 

At the Meeting, five Directors will be elected to serve for terms of three  
years, and until their successors are elected and qualified. The affirmative    
vote of a plurality of the votes cast at the Meeting is required to elect a     
Director. It is the intention of the persons named in the enclosed proxy to     
nominate and vote in favor of the election of the persons in Class Three as     
described below.                                                                

1 

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Pursuant to the Articles of Incorporation and By-laws of the Fund, the Board
of Directors has been divided into three classes. The terms of office of the    
members of Class Three will expire as of the Meeting, the terms of office of    
the members of Class One will expire as of the annual meeting of stockholders   
to be held in 1996 and the terms of office of the members of Class Two will     
expire as of the annual meeting of stockholders to be held in 1997. Upon        
expiration of the terms of office of the members of a class as set forth        
above, those persons then elected as Directors in that class will serve until   
the third annual meeting of stockholders following their election. Mr. Angel    
Corcostegui, and Mses. Marilyn Perry and Reba White Williams are the members    
constituting Class One; Messrs. Enrique L. Fevre, Jose Luis Feito Higueruela    
and Carlos Delclaux Zulueta and H.R.H. Pilar de Borbon y Borbon, Duchess of     
Badajoz, are the members constituting Class Two; and Messrs. Dave H. Williams,  
Francisco Gomez Roldan and Juan Manuel Sainz de Vicuna, Dr. James M. Hester     
and Ms. Inmaculada de Habsburgo-Lorena are the members constituting Class       
Three.                                                                          

As a result of this system, only those Directors in a single class may be   
changed in any one year, and it would require two years to change a majority    
of the Board of Directors (although, under Maryland law, procedures are         
available for the removal of Directors even if they are not then standing for   
re-election and, under Securities and Exchange Commission regulations,          
procedures are available for including appropriate stockholder proposals in     
management's annual proxy statement). This system of electing Directors, which  
may be regarded as an anti-takeover provision, may make it more difficult for   
the Fund's stockholders to change the majority of Directors and, thus, have     
the effect of maintaining the continuity of management.                         

At the Meeting, the five Directors in Class Three are standing for re-      
election. Each nominee has consented to serve as a Director. The Board of       
Directors knows of no reason why any of these nominees would be unable to       
serve, but in the event of such inability, the proxies received will be voted   
for such substitute nominees as the Board of Directors may recommend.           

Certain of the Fund's Directors and officers are residents of Spain or the  
United Kingdom and substantially all of the assets of such persons may be       
located outside of the United States. As a result, it may be difficult for      
U.S. investors to effect service upon such Directors or officers within the     
United States, or to realize judgments of courts of the United States           
predicated upon civil liabilities of such Directors or officers under the       
federal securities laws of the United States. The Fund has been advised that    
there is substantial doubt as to the enforceability in Spain or in the United   
Kingdom of the civil remedies and criminal penalties afforded by the federal    
securities laws of the United States. Also it is unclear if extradition         
treaties now in effect between the United States and each of Spain and the      
United Kingdom would subject Directors and officers residing in these           
countries to effective enforcement of the criminal penalties of the federal     
securities laws.                                                                

Certain information concerning the Fund's Directors is set forth below. Mr. 
Williams, Dr. Hester, H.R.H. Pilar de Borbon y Borbon and Mses. de Habsburgo-   
Lorena and Williams are each a director or trustee of one or more other         
investment companies sponsored by Alliance Capital Management L.P., the Fund's  
investment adviser and administrator ("Alliance").                              

2 

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                                                                [Download Table]

                                                                NUMBER OF SHARES
      NAME, AGE, POSITIONS AND                                    BENEFICIALLY  
       OFFICES WITH THE FUND,                                    OWNED DIRECTLY 
       PRINCIPAL OCCUPATIONS          YEAR FIRST   YEAR TERM     OR INDIRECTLY  
     DURING THE PAST FIVE YEARS        BECAME A  AS A DIRECTOR       AS OF      
      AND OTHER DIRECTORSHIPS          DIRECTOR   WILL EXPIRE    JUNE 27, 1995  
     --------------------------       ---------- -------------  ----------------
                                                                                
 *+ Dave H. Williams, Chairman, 62.      1988       1998++           3,514      
    Chairman of the Board of                     (Class Three)                  
    Alliance Capital Management                                                 
    Corporation ("ACMC")*** since                                               
    prior to 1990 and Director of                                               
    The Equitable Companies                                                     
    Incorporated and The Equitable                                              
    Life Assurance Society of the                                               
    United States.                                                              
**+ H.R.H. Pilar de Borbon y Borbon,     1991        1997              -0-      
    Duchess of Badajoz, 58. Director              (Class Two)                   
    of Cartier, France and Member of                                            
    the Advisory Board of Sotheby's                                             
    Holdings Inc.                                                               
**+ Angel Corcostegui, 43. Chief         1992        1996              -0-      
    Executive Officer of Banco                    (Class One)                   
    Central Hispanoamericano and                                                
    Member of the International                                                 
    Board of The Wharton School of                                              
    the University of Pennsylvania.                                             
  * Carlos Delclaux Zulueta, 38.         1994        1997              -0-      
    Managing Director of Privanza                 (Class Two)                   
    Banco Personal, S.A., Chairman                                              
    of Gestion de Activos                                                       
    Inmobiliarios (real estate fund                                             
    management), Vice-Chairman of                                               
    Vidrala, S.A. (glass packaging                                              
    production), Chairman of Arenas                                             
    de Arija, S.A. (industrial sand                                             
    production) and Vice-Chairman of                                            
    Ondargain, S.A. (private holding                                            
    company).                                                                   
 * Enrique L. Fevre, 51. Vice            1991        1997              -0-      
   President and Managing Director                (Class Two)                   
   of AXA Gestion de Seguros y                                                  
   Reaseguros, S.A., Managing                                                   
   Director of Aurora Polar Sociedad                                            
   Anonima de Seguros y Reaseguros,                                             
   President of Espacio Gestion                                                 
   Espana, S.A. and Director of                                                 
   Ahorro Familiar, S.A.; formerly                                              
   Finance Director of Peugeot                                                  
   Talbot Espana, S.A., Director of                                             
   Barcelona de Automocion and                                                  
   Managing Director of PSA Credit                                              
   S.A. and PSA Leasing Espana, S.A.                                            

--------                                                                        
* Interested person, as defined in the Investment Company Act of 1940 (the  
  "Act"), of the Fund because of affiliation with Alliance or Privanza Banco
Personal, S.A. ("Privanza").                                            
** Member of the Audit Committee.                                             
*** For purposes of this Proxy Statement, ACMC shall refer to Alliance Capital  
Management Corporation, the general partner of Alliance, and to the     
predecessor general partner of Alliance of the same name.               
+ Member of the Nominating Committee.                                       
++ If re-elected at the Meeting.                                              

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                                                                [Download Table]

                                                                NUMBER OF SHARES
      NAME, AGE, POSITIONS AND                                    BENEFICIALLY  
       OFFICES WITH THE FUND,                                    OWNED DIRECTLY 
       PRINCIPAL OCCUPATIONS          YEAR FIRST   YEAR TERM     OR INDIRECTLY  
     DURING THE PAST FIVE YEARS        BECAME A  AS A DIRECTOR       AS OF      
      AND OTHER DIRECTORSHIPS          DIRECTOR   WILL EXPIRE    JUNE 27, 1995  
     --------------------------       ---------- -------------  ----------------
                                                                                
**+ Inmaculada de Habsburgo-Lorena,      1988       1998++            -0-       
    49. Director of The Spanish                  (Class Three)                  
    Institute, Trustee of Samuel H.                                             
    Kress Foundation, Trustee of                                                
    Independent Curators                                                        
    Incorporated, Founder and                                                   
    Trustee of the King Juan Carlos                                             
    International Center of New York                                            
    University Foundation, Member of                                            
    the Board of World Monuments                                                
    Fund Espana, Member of the                                                  
    Advisory Council Focus Americas                                             
    and Member of the Committee of                                              
    Honour of the European Community                                            
    Chamber Orchestra.                                                          
**+ Dr. James M. Hester, 71.             1991       1998++            500       
    President of The Harry Frank                 (Class Three)                  
    Guggenheim Foundation and                                                   
    Director of Union Carbide                                                   
    Corporation; formerly President                                             
    of New York University and The                                              
    New York Botanical Garden and                                               
    Rector of the United Nations                                                
    University.                                                                 
**+ Jose Luis Feito Higueruela, 43.      1988        1997             -0-       
    Partner, Member of the Board and              (Class Two)                   
    Member of the Executive                                                     
    Committee of AB Asesores,                                                   
    Executive Director of the                                                   
    International Monetary Fund;                                                
    formerly Chief of Relations,                                                
    International Economic                                                      
    Organizations in the Bank of                                                
    Spain.                                                                      
**+ Marilyn Perry, 55. President of      1991        1996             -0-       
    Samuel H. Kress Foundation,                   (Class One)                   
    Chairman, World Monuments Fund                                              
    and Trustee of Art Restoration                                              
    for Cultural Heritage (ARCH),                                               
    the Burlington Magazine                                                     
    Foundation and the International                                            
    Research and Exchanges Board                                                
    (IREX).                                                                     
**+ Francisco Gomez Roldan, 40.          1989       1998++            -0-       
    General Manager of Argentaria,               (Class Three)                  
    Corporacion Bancaria de Espana;                                             
    formerly Deputy General Manager                                             
    of Banco Bilbao Vizcaya, S.A.,                                              
    the parent of the sub-adviser,                                              
    General Manager of BBV                                                      
    Interactivos, S.A. and General                                              
    Manager of Banca Catalana, S.A.                                             

--------                                                                        
**Member of the Audit Committee.                                                
+Member of the Nominating Committee.                                          
++If re-elected at the Meeting.                                                 

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                                                                [Download Table]

                                                                NUMBER OF SHARES
      NAME, AGE, POSITIONS AND                                    BENEFICIALLY  
       OFFICES WITH THE FUND,                                    OWNED DIRECTLY 
        PRINCIPAL OCCUPATIONS          YEAR FIRST   YEAR TERM    OR INDIRECTLY  
     DURING THE PAST FIVE YEARS         BECAME A  AS A DIRECTOR      AS OF      
       AND OTHER DIRECTORSHIPS          DIRECTOR   WILL EXPIRE   JUNE 27, 1995  
     --------------------------        ---------- ------------- ----------------
                                                                                
**+ Juan Manual Sainz de Vicuna, 69.      1988       1998++           -0-       
    Chairman of Coca-Cola Espana,                 (Class Three)                 
    President of the Fundacion Coca-                                            
    Cola Espana, Director of Coca-                                              
    Cola Beverages S.A. (France) and                                            
    President of Perfumeria Gal,                                                
    S.A.; Member of the Fundacion de                                            
    Amigos del Museo del Prado, the                                             
    Fundacion para el Apoyo de la                                               
    Cultura, the Board of World                                                 
    Monuments Fund Espana, the                                                  
    Spanish chapter of the World Wild                                           
    Life Fund (Adena), the Notre Dame                                           
    University International Advisory                                           
    Council and the Spanish Olympic                                             
    Committee.                                                                  
  * Reba White Williams, 59. Director     1990        1996           10,073     
    of ACMC, Director of Special                   (Class One)                  
    Projects, ACMC; art historian and                                           
    writer; formerly a financial                                                
    writer and consultant,                                                      
    contributing editor to                                                      
    Institutional Investor, Vice                                                
    President and security analyst                                              
    for Mitchell Hutchins, Inc. and                                             
    an analyst for McKinsey &                                                   
    Company, Inc.                                                               

--------                                                                        
*Interested person, as defined in the Act, of the Fund because of affiliation 
with Alliance or Privanza.                                                  
**Member of the Audit Committee.                                                
+Member of the Nominating Committee.                                          
++If re-elected at the Meeting.                                                 

During the fiscal year ended November 30, 1994, the Board of Directors met  
four times, the Audit Committee met twice for the purposes described below in   
Proposal Two, and the Nominating Committee met once. The Nominating Committee   
was constituted for the purpose of selecting and nominating persons to fill     
any vacancies on the Board of Directors. The Nominating Committee of the Fund   
does not currently consider candidates proposed by stockholders for election    
as Directors.                                                                   

The Fund does not pay any fees to, or reimburse expenses of, its Directors  
who are considered "interested persons" of the Fund. The aggregate              
compensation paid by the Fund to each of the Directors during its fiscal year   
ended November 30, 1994, the aggregate compensation paid to each of the         
Directors during calendar year 1994 by all of the funds to which Alliance       
provides investment advisory services (collectively, the "Alliance Fund         
Complex") and the total number of funds in the Alliance Fund Complex with       
respect to which each of the Directors serves as a director or trustee, are     
set forth below. Neither the Fund nor any other fund in the Alliance Fund       
Complex provides compensation in the form of pension or retirement benefits to  
any of its directors or trustees.                                               

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                                                        [Enlarge/Download Table]

                                              TOTAL         TOTAL NUMBER OF FUNDS IN 
                                           COMPENSATION    THE ALLIANCE FUND COMPLEX,
                            AGGREGATE   FROM THE ALLIANCE  INCLUDING THE FUND, AS TO 
    NAME OF DIRECTOR      COMPENSATION    FUND COMPLEX,      WHICH THE DIRECTOR IS   
      OF THE FUND         FROM THE FUND INCLUDING THE FUND   A DIRECTOR OR TRUSTEE   
    ----------------      ------------- ------------------ --------------------------
                                                                                     
Dave H. Williams             $     0         $      0                   6            
H.R.H. Pilar de Borbon y                                                             
 Borbon                      $ 9,500         $ 19,500                   2            
Angel Corcostegui            $ 9,500         $  9,500                   1            
Carlos Delclaux Zulueta      $     0         $      0                   1            
Enrique L. Fevre             $     0         $      0                   1            
Inmaculada de Habsburgo-                                                             
 Lorena                      $10,000         $ 21,000                   2            
Dr. James M. Hester          $ 9,500         $154,500                  32            
Jose Luis Feito                                                                      
 Higueruela                  $10,000         $ 10,000                   1            
Marilyn Perry                $10,000         $ 10,000                   1            
Francisco Gomez Roldan       $10,000         $ 10,000                   1            
Juan Manual Sainz de Vi-                                                             
 cuna                        $ 9,500         $  9,500                   1            
Reba White Williams          $     0         $      0                   3            

As of June 27, 1995, the Directors and officers of the Fund as a group owned    
less than 1% of the shares of the Fund.                                         

THE BOARD OF DIRECTORS RECOMMENDS THAT THE STOCKHOLDERS VOTE FOR THE        
ELECTION OF THE FOREGOING NOMINEES TO SERVE AS DIRECTORS OF THE FUND.           

PROPOSAL TWO  

RATIFICATION OF SELECTION 
OF INDEPENDENT ACCOUNTANTS  

The Board of Directors recommends that the stockholders of the Fund ratify  
the selection of Price Waterhouse LLP, independent accountants, to audit the    
accounts of the Fund for the fiscal year ending November 30, 1995. Their        
selection was approved by the vote, cast in person, of a majority of the Board  
of Directors, including a majority of the Directors who are not interested      
persons of the Fund as defined in the Act, at a meeting held on September 30,   
1994. The affirmative vote of a majority of the votes cast at the Meeting is    
required to ratify such selection. Price Waterhouse LLP has audited the         
accounts of the Fund since the Fund's commencement of operations and does not   
have any direct financial interest or any material indirect financial interest  
in the Fund. A representative of Price Waterhouse LLP is not expected to        
attend the Meeting.                                                             

The Audit Committee of the Board of Directors generally meets twice during  
each fiscal year with representatives of Price Waterhouse LLP to discuss the    
scope of the independent accountants' engagement and review the financial       
statements of the Fund and the results of their examination thereof.            

THE BOARD OF DIRECTORS RECOMMENDS THAT THE STOCKHOLDERS VOTE FOR THE        
RATIFICATION OF THE SELECTION OF PRICE WATERHOUSE LLP AS INDEPENDENT            
ACCOUNTANTS OF THE FUND.                                                        

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INFORMATION AS TO THE FUND'S PRINCIPAL OFFICERS, INVESTMENT 
ADVISER, SUB-ADVISER AND ADMINISTRATOR  

The principal officers of the Fund and their principal occupations during   
the past five years are set forth below.                                        

Dave H. Williams, Chairman (see Proposal One, Election of Directors, at page
3 for biographical information).                                                

Norman S. Bergel, Vice President, 45, a Vice President of ACMC since prior  
to 1990; Director and a Vice President of Alliance Capital Limited ("ACL").     

Mark H. Breedon, Vice President, 42, a Vice President of ACMC since prior to
1990; Director and a Vice President of ACL.                                     

Nicholas Crossland, Vice President, 24, an Assistant Vice President of ACL, 
with which he has been associated since 1991. Previously, he was a Trading      
Assistant with Brewin Dolphin.                                                  

Mark D. Gersten, Treasurer and Chief Financial Officer, 44, a Senior Vice   
President of Alliance Fund Services, Inc. ("AFS").                              

Edmund P. Bergan, Jr., Secretary, 45, a Senior Vice President and the       
General Counsel of Alliance Fund Distributors, Inc. and AFS and a Vice          
President and an Assistant General Counsel of ACMC.                             

The address of Messrs. Williams and Bergan is c/o Alliance Capital          
Management L.P., 1345 Avenue of the Americas, New York, New York 10105. The     
address of Mr. Bergel is c/o Alliance Capital Management International, 6th     
Floor, Albermarie House, Albermarie Street, London, W1X 3HF. The address of     
Messrs. Breedon and Crossland is c/o Alliance Capital Limited, 155              
Bishopsgate, London, ECZM 3XS. The address of Mr. Gersten is c/o Alliance Fund  
Distributors, Inc., 500 Plaza Drive, Secaucus, New Jersey 07094.                

The investment adviser and administrator for the Fund is Alliance Capital   
Management L.P., with principal offices at 1345 Avenue of the Americas, New     
York, New York 10105. Privanza Banco Personal, S.A., with principal offices at  
17 Padilla, Madrid, Spain 28006, serves as the Fund's sub-adviser.              

Section 30(f) of the Act and the rules under Section 16 of the Securities   
Act of 1934 require that the Directors and officers of the Fund and the         
Directors of ACMC, among others, file with the Securities and Exchange          
Commission and the New York Stock Exchange initial reports of ownership of      
shares of the Fund. During 1994, required reports on Form 3 were not filed on   
a timely basis on behalf of Ms. Madelon Devoe Talley and Messrs. Brian O'Neil   
and Jerry M. de St. Paer, each a Director of ACMC.                              

SUBMISSION OF PROPOSALS FOR THE NEXT  
ANNUAL MEETING OF STOCKHOLDERS  

Proposals of stockholders intended to be presented at the next annual       
meeting of stockholders of the Fund must be received by the Fund by March 26,   
1996 for inclusion in the Fund's proxy statement and form of proxy relating to  
that meeting. The submission by a stockholder of a proposal for inclusion in    
the proxy statement does not guarantee that it will be included. Stockholder    
proposals are subject to certain regulations under federal securities laws.     

7 

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OTHER MATTERS 

Management of the Fund does not know of any matters to be presented at the  
Meeting other than those mentioned in this Proxy Statement. If any other        
matters properly come before the Meeting, the shares represented by proxies     
will be voted with respect thereto in accordance with the best judgment of the  
person or persons voting the proxies.                                           

REPORTS TO STOCKHOLDERS 

The Fund will furnish each person to whom the proxy statement is delivered  
with a copy of the Fund's latest annual report to stockholders upon request and 
without charge. To request a copy, please call Alliance Fund Services at (800)  
227-4618 or contact Nancy Davis at Alliance Capital Management L.P., 1345       
Avenue of the Americas, New York, New York 10105.                               

                                       By order of the Board of Directors,

                         Edmund P. Bergan, Jr.
             Secretary

July 24, 1995                                                                   
New York, New York                                                              

8 

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                                                                [Download Table]

TABLE OF CONTENTS                                                          PAGE
-------------------------------------------------------------------------------
                                                                               
Introduction..............................................................   1 
Proposal One: Election of Directors.......................................   1 
Proposal Two: Ratification of Selection of Independent Accountants........   6 
Information as to the Fund's Principal Officers, Investment Adviser, Sub-      
 adviser and Administrator................................................   7 
Submission of Proposals for the Next Annual Meeting of Stockholders.......   7 
Other Matters.............................................................   8 
Reports to Stockholders...................................................   8 

THE SPAIN FUND, INC.  

------------------------------------------------------------------------------- 
[LOGO OF ALLIANCE CAPITAL APPEARS HERE] 
Alliance Capital Management L.P.  
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NOTICE OF ANNUAL MEETING                                                        
OF STOCKHOLDERS                                                                 
AND PROXY STATEMENT                                                             
AUGUST 24, 1995                                                                 

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APPENDIX  

PROXY                                                                      PROXY

THE SPAIN FUND, INC.  

Instructions to the Stockholders of The Spain Fund, Inc. (the "Corporation")  
in connection with the Annual Meeting of Stockholders 
to be held on August 24, 1995 

THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF DIRECTORS OF THE CORPORATION. 

  The undersigned hereby instructs Nancy E. Davis and Carol H. Rappa to vote
all shares of The Common Stock of the Corporation registered in the name of the 
undersigned at the Annual Meeting of Stockholders of the Corporation to be held 
at 11:00 a.m., Eastern Time, on August 24, 1995 at the offices of the           
Corporation, 1345 Avenue of the Americas, in the Audio-Visual Conference Room,  
33rd Floor, New York, New York  10105, and at all adjournments thereof.  The    
undersigned hereby acknowledges receipt of the Notice of Meeting and            
accompanying Proxy Statement and hereby instructs said proxies to vote said     
shares as indicated hereon.                                                     

 This proxy, if properly executed, will be voted in the manner directed by
the undersigned.  If no direction is made, this proxy will be voted FOR election
of the nominees as Directors and FOR any proposal for which no choice is        
indicated.                                                                      

Please refer to the Proxy Statement for a discussion of each of the Proposals.  

PLEASE VOTE AND SIGN ON OTHER SIDE AND RETURN PROMPTLY IN ENCLOSED ENVELOPE.  

Please sign this proxy exactly as your name appears on the books of the 
Corporation.  Joint owners should each sign personally.  Trustees and other     
fiduciaries should indicate the capacity in which they sign, and where more than
one name appears, a majority must sign.  If a corporation, this signature should
be that of an authorized officer who should state his or her title.             

HAS YOUR ADDRESSED CHANGED?            DO YOU HAVE ANY COMMENTS?                

--------------------------------       --------------------------------         

--------------------------------       --------------------------------         

--------------------------------       --------------------------------         

00250031/AW0                                                                    

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PLEASE MARK VOTES                                                       
/X/ AS IN THIS EXAMPLE                                                          
                         FOR              WITHHOLD          FOR ALL EXCEPT

1.  Election of Directors   /   /            /   /             /   /            

Class Three Directors (term expires in 1998)  
Dave H. Williams, Inmaculada de Habsburgo-Lorena, 
Dr. James M. Hester, Francisco Gomez Roldan,  
Juan Manuel Sainz de Vicuna 

If you do not wish your shares voted "For" any particular nominee, mark the "For
All Except" box and strike a line through that nominee's name.  Your shares will
be voted for the remaining nominees.                                            

2.  Ratification of the selection of Price Waterhouse LLP as the independent    
accountants for the Corporation for the fiscal year ending November 30, 
1995.                                                                   

      FOR          AGAINST         ABSTAIN
    /   /        /   /           /   /

3.  In their discretion, in such other matters as may properly come before the  
Annual Meeting or any adjournment thereof.                              

Please be sure to sign and date this Proxy.     Date___________________________ 

_____________________________________________                                   
Shareholder sign here     Co-owner sign here                                    

Mark box at right if comments or address change have been noted on the reverse  
side of this card.       /   /                                                  

RECORD DATE SHARES:                                                             

00250031/AW0

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Dates Referenced Herein and Documents Incorporated by Reference

		Referenced-On Page
This ‘DEF 14A’ Filing	Date	First	Last	Other Filings

	3/26/96	9
	11/30/95	2	13	N-30D, NSAR-B
For Period End:	8/24/95	2	12
Filed on:	7/27/95
	7/24/95	2	10
	6/27/95	2	8
	11/30/94	7		N-30B-2, N-30D, NSAR-B
	9/30/94	8
				List all Filings

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Filing Submission 0000919574-95-000262 – Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

Ibero-America Fund Inc – ‘DEF 14A’ for 8/24/95

As of: Thursday, 7/27/95 · For: 8/24/95 · Accession #: 919574-95-262 · File #: 811-05189

Previous ‘DEF 14A’: None · Next: ‘DEF 14A’ on 5/16/96 for 6/27/96 · Latest: ‘DEF 14A’ on 7/13/11 for 8/31/11

Definitive Proxy Solicitation Material — Schedule 14AFiling Table of Contents

Document Table of Contents

Dates Referenced Herein and Documents Incorporated by Reference

Definitive Proxy Solicitation Material — Schedule 14A
Filing Table of Contents