UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-8076
The Emerging Market Telecommunications Fund, Inc.
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(Exact name of registrant as specified in charter)
c/o Credit Suisse Asset Management, LLC
466 Lexington Avenue
New York, New York 10017
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(Address of principal executive offices) (Zip code)
Hal Liebes, Esq.
466 Lexington Avenue
New York, New York 10017
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(Name and address of agent for service)
Registrant's telephone number, including area code: (212) 875-3500
Date of fiscal year end: 11/30
Date of reporting period: July 1, 2003 - June 30, 2004
ITEM 1. PROXY VOTING RECORD
THE EMERGING MARKET TELECOMMUNICATIONS FUND, INC.
================ EMERGING MARKETS TELECOMMUNICATIONS FUND, INC. ================
ADVANCED INFO SERVICE PCL
Ticker: AVIFY Security ID: Y0014U183
Meeting Date: APR 23, 2004 Meeting Type: Annual
Record Date: APR 5, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Open Meeting None None Management
2 Approve Minutes of Previous AGM For For Management
3 Accept Report on Company Performance in For For Management
2003
4 Accept Financial Statements and Statutory For For Management
Reports
5 Elect Directors and Fix Their For For Management
Remuneration
6 Approve Auditors and Authorize Board to For For Management
Fix Their Remuneration
7 Approve Allocation of Income and For For Management
Dividends
8 Approve Issuance of Nine Million Units of For For Management
Warrants to Directors, Employees, and
Advisors of the Company Under the ESOP
Grant III
9 Approve the Issuance of Nine Million For For Management
Shares Reserved Exclusively for the
Conversion of Warrants Under the ESOP
Grant III
10 Approve Issuance of Warrants to For For Management
Directors, Employees and Advisors
Exceeding Five Percent of the Total
Issuance Under the ESOP Grant III
11 Approve Issuance of 125,591 Shares For For Management
Reserved Exclusively for the Conversion
of Warrants Under ESOP Grant I & II
12 Other Business For Against Management
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BHARTI TELE-VENTURES LTD
Ticker: Security ID: Y0885K108
Meeting Date: MAY 8, 2004 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Authorize Issuance of Convertible Bonds For Against Management
without Preemptive Rights
2 Approve Investment in Hexacom India Ltd. For Against Management
3 Approve Issuance of Equity or For Against Management
Equity-Linked Securities to Shareholders
to Hexacom India Ltd.
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CELULAR CRT PARTICIPACOES S.A.
Ticker: Security ID: P2195N129
Meeting Date: MAR 24, 2004 Meeting Type: Annual
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and Statutory For For Management
Reports
2 Approve Allocation of Income and For For Management
Dividends
3 Authorize Capitalization of 'Reserva de For For Management
Lucros para Expansao' Reserves
4 Approve 2004 Capital Budget For For Management
5 Elect Supervisory Board For For Management
6 Approve Aggregate Remuneration for For For Management
Directors and Individual Remuneration
for Supervisory Board Members
7 Ratify Text of Article 5 as Approved at For For Management
Board Meeting Held on 3-31-03 Re:
Increase in Capital Resulting from
Capitalization of Tax Benefit
8 Ratify Appointment of Two Board Members For For Management
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CHINA TELECOM CORP LTD
Ticker: Security ID: 169426103
Meeting Date: MAY 3, 2004 Meeting Type: Annual
Record Date: MAR 24, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 TO CONSIDER AND APPROVE THE CONSOLIDATED For For Management
FINANCIAL STATEMENTS OF THE COMPANY, THE
REPORT OF THE BOARD OF DIRECTORS, THE
REPORT OF THE SUPERVISORY COMMITTEE AND
THE REPORT OF THE INTERNATIONAL AUDITORS
FOR THE YEAR ENDED 31 DECEMBER 2003.
2 TO CONSIDER AND APPROVE THE PROFIT For For Management
DISTRIBUTION PROPOSAL AND DECLARATION OF
A FINAL DIVIDEND FOR YEAR ENDED 31
DECEMBER 2003.
3 TO CONSIDER AND APPROVE THE ANNUAL For For Management
REMUNERATION PROPOSAL FOR THE COMPANY S
DIRECTORS FOR THE YEAR ENDING 31 DECEMBER
2004.
4 Ratify Auditors For For Management
5 TO GRANT A GENERAL MANDATE TO THE BOARD For Against Management
OF DIRECTORS TO ISSUE, ALLOT AND DEAL
WITH ADDITIONAL SHARES IN THE COMPANY.
6 TO AUTHORISE THE BOARD OF DIRECTORS TO For Against Management
INCREASE THE REGISTERED CAPITAL AND AMEND
THE ARTICLES OF ASSOCIATION.
7 THE DIRECTORS OF THE COMPANY BE For For Management
AUTHORISED TO ISSUE AND ALLOT UP TO
8,317,560,515 NEW H SHARES (THE NEW H
SHARES ).
8 THE DIRECTORS OF THE COMPANY BE For For Management
AUTHORISED TO INCREASE THE REGISTERED
CAPITAL OF THE COMPANY.
9 SUBJECT TO THE PASSING OF SPECIAL For For Management
RESOLUTION (E1) SHAREHOLDERS HEREBY,
WAIVE PRE-EMPTIVE RIGHTS (IF ANY) OVER
THE NEW H SHARES.
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CHINA TELECOM CORP LTD
Ticker: Security ID: Y1505D102
Meeting Date: DEC 15, 2003 Meeting Type: Special
Record Date: NOV 14, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Acquisition of the Entire Issued For For Management
Capital of Anhui Telecom, Fujian Telecom,
Jiangxi Telecom, Guangxi Telecom,
Chongqing Telecom and Sichuan Telecom and
Certain Network Management, Research and
Development Facilities
2 Approve Connected Transaction with a For For Management
Related Party
3 Amend Articles Re: Update Service Areas For For Management
of the Company
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CHINA TELECOM CORP LTD
Ticker: Security ID: Y1505D102
Meeting Date: MAY 3, 2004 Meeting Type: Annual
Record Date: APR 2, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and Statutory For For Management
Reports
2 Approve Final Dividend of HK$0.065 Per For For Management
Share
3 Approve Remuneration of Directors for the For For Management
Year Ending Dec. 31, 2004
4 Reappoint KPMG as International Auditors For For Management
and KPMG Huazhen as Domestic Auditors and
Authorize Board to Fix Their Remuneration
5 Approve Issuance of Equity or For Against Management
Equity-Linked Securities without
Preemptive Rights
6 Approve Increase in Registered Capital For Against Management
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CHINA TELECOM CORP LTD
Ticker: Security ID: Y1505D102
Meeting Date: JUN 9, 2004 Meeting Type: Special
Record Date: MAY 7, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Acquisition Agreement Between For For Management
China Telecom Corp. Ltd. and China
Telecommunications Corp.
2 Approve Prospective Connected Transaction For For Management
with a Related Party
3 Amend Articles Re: Service Areas of the For For Management
Company
4 Amend Articles Re: Voting at General For For Management
Meetings, Nomination of Directors
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CHINA UNICOM
Ticker: Security ID: Y15125100
Meeting Date: DEC 22, 2003 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Acquisition of Unicom New World For For Management
(BVI) Ltd. for Approximately HK$3 Billion
2 Approve Prospective Cellular Connected For For Management
Transactions
3 Approve Sale of Guoxin Paging Corp. Ltd. For For Management
to China United Telecommunications Corp.
Ltd. for an Aggregate Consideration of
HK$2.6 Billion
4 Approve Prospective Guoxin Connected For For Management
Transactions
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KT FREETEL (FORMERLY KOREA TELECOM FREETEL)
Ticker: Security ID: Y4991F102
Meeting Date: MAR 25, 2004 Meeting Type: Annual
Record Date: DEC 31, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Appropriation of Income and For For Management
Dividends of KRW 500 Per Share
2 Amend Articles of Incorporation To For For Management
Eliminate Two Denominations of Share
Certificates
3 Approve Delisting from KOSDAQ Subject to For For Management
Approval of Listing on KSE
4 Elect Members of Audit Committee For For Management
5 Elect Directors For For Management
6 Approve Limit on Remuneration of For For Management
Directors
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LG ELECTRONICS INC
Ticker: Security ID: Y5275H177
Meeting Date: MAR 12, 2004 Meeting Type: Annual
Record Date: DEC 31, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Appropriation of Income and For For Management
Dividends of KRW 1250 Per Ordinary Share
2 Amend Articles of Incorporation For For Management
3 Elect Directors For For Management
4 Elect Members of Audit Committee For For Management
5 Approve Limit on Remuneration of For For Management
Directors
6 Approve Terms of Severance Payments to For Against Management
Executives
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MATAV RT
Ticker: Security ID: X5215H122
Meeting Date: APR 28, 2004 Meeting Type: Annual
Record Date: APR 20, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Directors' Report on Company For Did Not Management
Business Policy and Financial Situation Vote
in 2003
2 Approve Directors' Report on Business For Did Not Management
Operations in 2003, Supervisory Board's Vote
Report and Auditor's Report
3 Approve Allocation of Income Earned in For Did Not Management
2003 and Dividend of HUF 70 per Share Vote
4 Approve Dematerialization of Shares For Did Not Management
Vote
5 Amend Articles of Association For Did Not Management
Vote
6 Elect Management Board For Did Not Management
Vote
7 Elect Supervisory Board For Did Not Management
Vote
8 Approve Remuneration of Management and For Did Not Management
Supervisory Board Members Vote
9 Approve Auditors and Fix Their For Did Not Management
Remuneration Vote
10 Approve Rules of Procedure of Supervisory For Did Not Management
Board Vote
11 Approve Amendments to Matav Stock Option Against Did Not Shareholder
Plan Vote
12 Other Business For Did Not Management
Vote
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MAXIS COMMUNICATIONS BHD
Ticker: Security ID: Y5903J108
Meeting Date: SEP 29, 2003 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Grant of an Option to MEASAT For For Management
Broadcast Network Systems to Subscribe
for Ordinary Shares of MYR1.00 Each in
Advanced Wireless Technologies, a
Wholly-Owned Subsidiary of Maxis
Communication Bhd
2 Implementation of Shareholders' Mandate For For Management
for Recurrent Related Party Transactions
with MEASAT Broadcast Network Systems Sdn
Bhd and Multimedia Interactive
Technologies Sdn Bhd
3 Implementation of Shareholders' Mandate For For Management
for Recurrent Related Party Transactions
with SRG Asia Pacific Sdn Bhd and UT
Projects Sdn Bhd
4 Implementation of Shareholders' Mandate For For Management
for Recurrent Related Party Transactions
with Binariang Satellite Systems Sdn Bhd
5 Implementation of Shareholders' Mandate For For Management
for Recurrent Related Party Transactions
with Tanjong Golden Village Sdn Bhd and
Tanjong City Centre Property Management
Sdn Bhd
6 Implementation of Shareholders' Mandate For For Management
for Recurrent Related Party Transactions
with Arena Johan Sdn Bhd
7 Implementation of Shareholders' Mandate For For Management
for Recurrent Related Party Transactions
with Oakwood, Arab Malaysian Property
Trust Management, MBf Property Holdings,
AmFinance, Resorts World, Genting
Highlands,Genting Golf Course & Genting
Property Management
8 Implementation of Shareholders' Mandate For For Management
for Recurrent Related Party Transactions
with HelTech Padu Bhd
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MTN GROUP LTD.(FORMERLY M-CELL)
Ticker: Security ID: S8039R108
Meeting Date: SEP 29, 2003 Meeting Type: Annual
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Company and Group Financial For For Management
Statements and Statutory Reports for Year
Ended Mar. 31, 2003
2 Approve Simultaneous Re-Appointment of For Against Management
Retiring Directors
3.1 Reelect D.D.B. Band as Director For For Management
3.2 Reelect R.S. Dabengwa as Director For For Management
3.3 Reelect P.L. Heinamann as Director For For Management
3.4 Reelect R.D. Nisbet as Director For For Management
4.1 Elect A.F. van Biljon as Director For For Management
4.2 Elect S.L. Botha as Director For For Management
5 Authorize Repurchase of Up to 20 Percent For For Management
of Issued Share Capital
6 Place Authorized But Unissued Shares For For Management
under Control of Directors
7 Waive Preemptive Rights for Share For For Management
Issuances
8 Approve Remuneration of Directors for For For Management
Year Ending Mar. 31, 2004
9 Approve Extension of Three Year Service For Against Management
Contract of P.F. Nhleko to Five Years
10 Amend Share Incentive Scheme Re: Pricing For For Management
of Options, Payment of Purchase Price,
and Exercise of Options
11 Authorize Board to Ratify and Execute For For Management
Approved Resolutions
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NCSOFT
Ticker: Security ID: Y6258Y104
Meeting Date: MAR 26, 2004 Meeting Type: Annual
Record Date: DEC 31, 2003
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Appropriation of Income, with No For For Management
Dividends
2 Amend Articles of Incorporation Re: For For Management
Business Objectives
3 Elect Directors For For Management
4 Appoint Auditor For For Management
5 Approve Limit on Remuneration of For For Management
Directors
6 Approve Limit on Remuneration of Auditors For For Management
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PT INDOSAT, INDONESIAN SATELLITE CORPORATION
Ticker: IIT Security ID: Y7130D110
Meeting Date: JUN 22, 2004 Meeting Type: Annual
Record Date: MAY 28, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Financial Statements and For For Management
Discharge Directors and Commissioners
2 Approve Allocation of Income For For Management
3 Approve Remuneration of Commissioners For For Management
4 Approve Ernst & Young as Auditors and For For Management
Authorize Board to Fix Their Remuneration
5 Approve Second Phase Exercise Price of For Against Management
Options Pursuant to Employee Stock Option
Program
6 Elect Directors and Commissioners For For Management
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PT INDOSAT, INDONESIAN SATELLITE CORPORATION
Ticker: IIT Security ID: Y7130D102
Meeting Date: MAR 8, 2004 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve 5-for-1 Stock Split For For Management
2 Approve Remuneration of Directors For For Management
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PT TELEKOMUNIKASI INDONESIA
Ticker: TLK Security ID: Y71474129
Meeting Date: MAR 10, 2004 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Replacement of Annual Report and For Against Management
Consolidated Financial Statements for FY
2002
2 Approve Annual Report 2002 and For Against Management
Ratification of Consolidated Financial
Statement 2002
3 Ratify Restated Consolidated Financial For Against Management
Statement for FY 2000 and FY 2001
4 Approve Restatement of Net Income For Against Management
Allocation for FY 2000, FY 2001 and FY
2002
5 Elect Directors and Commissioners For For Management
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TELE NORTE LESTE PARTICIPACOES (TELEMAR)
Ticker: Security ID: P9036X117
Meeting Date: MAY 24, 2004 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Cancel 2.3 Billion Ordinary Shares and For For Management
4.6 Billion Preference Company's Treasury
Shares Without Reduction in Capital
2 Approve 1000:1 Reverse Stock Split For For Management
3 Grant Authority to Executive Officer For For Management
Board to Ratify and Execute Resolutions
Proposed in Items 1 and 2
4 Amend Articles Re: Changes in Capital, For For Management
Share Capital, Creation of Two New
Directorship Positions, and Executive
Officer Board Absence and Limitation
Policy
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TELE NORTE LESTE PARTICIPACOES (TELEMAR)
Ticker: Security ID: P9036X117
Meeting Date: MAY 13, 2004 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Cancel 2.3 Billion Ordinary Shares and For For Management
4.6 Billion Preference Company's Treasury
Shares Without Reduction in Capital
2 Approve 1000:1 Reverse Stock Split For For Management
3 Grant Authority to Executive Officer For For Management
Board to Ratify and Execute Resolutions
Proposed in Items 1 and 2
4 Amend Articles Re: Changes in Capital, For For Management
Share Capital, Creation of Two New
Directorship Positions, and Executive
Officer Board Absence and Limitation
Policy
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TELECOM ARGENTINA STET - FRANCE SA
Ticker: Security ID: 879273209
Meeting Date: APR 29, 2004 Meeting Type: Annual
Record Date: APR 6, 2004
# Proposal Mgt Rec Vote Cast Sponsor
1 APPOINTMENT OF TWO SHAREHOLDERS TO For For Management
APPROVE AND SIGN THE MINUTES.
2 CONSIDERATION OF THE DOCUMENTS PROVIDED For For Management
FOR IN SECTION 234, SUBSECTION 1, OF LAW
19,550, THE RULES OF THE COMISION
NACIONAL DE VALORES.
3 CONSIDERATION OF THE RESULTS OF THE YEAR For For Management
AND TO CARRY OVER THE FULL NEGATIVE
BALANCE FROM UNAPPROPRIATED RETAINED
EARNINGS.
4 CONSIDERATION OF THE PERFORMANCE OF THE For For Management
BOARD AND SUPERVISORY COMMITTEE ACTING
DURING THE FIFTEENTH FISCAL YEAR.
5 CONSIDERATION OF THE COMPENSATION TO THE For For Management
BOARD CORRESPONDING TO THE FISCAL YEAR
ENDED DECEMBER 31, 2003.
6 AUTHORIZATION OF THE BOARD OF DIRECTORS For For Management
TO MAKE ADVANCES OF FEES ESTABLISHED BY
THE SHAREHOLDERS MEETING TO THE
DIRECTORS.
7 FEES OF THE SUPERVISORY COMMITTEE. For For Management
8 DETERMINATION OF THE NUMBER OF DIRECTORS For For Management
AND ALTERNATE DIRECTORS TO HOLD OFFICE
DURING THE SIXTEENTH FISCAL YEAR.
9 APPOINTMENT OF DIRECTORS AND ALTERNATE For For Management
DIRECTORS TO HOLD OFFICE DURING THE
SIXTEENTH FISCAL YEAR.
10 APPOINTMENT OF MEMBERS AND ALTERNATE For For Management
MEMBERS OF THE SUPERVISORY COMMITTEE FOR
THE SIXTEENTH FISCAL YEAR.
11 Ratify Auditors For For Management
12 CONSIDERATION OF THE BUDGET FOR THE AUDIT For For Management
COMMITTEE FOR THE FISCAL YEAR 2004.
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TELEKOM MALAYSIA BERHAD
Ticker: Security ID: Y8578H118
Meeting Date: MAY 18, 2004 Meeting Type: Annual
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and Statutory For For Management
Reports for the Financial Year Ended Dec.
31, 2003
2 Approve Final and Special Dividend of For For Management
MYR0.10 Per Share Less 28 Percent
Malaysian Income Tax for the Financial
Year Ended Dec. 31, 2003
3 Elect Ir. Muhammad Radzi bin Haji Mansor For For Management
as Director
4 Elect Ir. Prabahar N.K. Singam as For For Management
Director
5 Elect Lim Kheng Guan as Director For For Management
6 Elect Rosli bin Man as Director For For Management
7 Elect Tan Poh Keat as Director For For Management
8 Elect Halim bin Shafie as Director For Against Management
9 Elect Abdul Majid bin Haji Hussein as For For Management
Director
10 Approve Remuneration of Directors for the For For Management
Financial Year Ended Dec. 31, 2003
11 Approve Auditors and Authorize Board to For For Management
Fix Their Remuneration
12 Approve Issuance of Equity or For For Management
Equity-Linked Securities without
Preemptive Rights in Any Amount Up to Ten
Percent of Issued Share Capital
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TELEMIG CELULAR PARTICIPACOES S.A.
Ticker: Security ID: P9036N101
Meeting Date: APR 14, 2004 Meeting Type: Annual
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Financial Statements and Statutory For For Management
Reports
2 Approve Allocation of Income and For For Management
Dividends
3 Elect Management Board For For Management
4 Elect Supervisory Board and Fix Their For For Management
Remuneration
5 Approve Aggregate Remuneration for For For Management
Directors
6 Capitalization of Goodwill Through For For Management
Issuance of Shares and Increase in
Capital
7 Capitalize Retained Earnings in Excess of For For Management
Share Capital
8 Amend Article 5 to Reflect Changes in For For Management
Capital
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TELESP, TELECOMUNICACOES DE SAO PAULO S.A.
Ticker: Security ID: P90337117
Meeting Date: MAR 25, 2004 Meeting Type: Annual
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Accept Individual and Consolidated For For Management
Financial Statements and Statutory
Reports
2 Approve Allocation of Income and For For Management
Dividends
3 Approve 2004 Capital Budget For For Management
4 Elect Management Board For For Management
5 Elect Supervisory Board For For Management
6 Approve Remuneration of Directors, For For Management
Supervisory Members, and Executives
7 Amend Articles Re: Reorganization of For For Management
Executive Office Board
8 Codify Amendments to Articles For For Management
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TURKCELL ILETISIM HIZMETLERI
Ticker: Security ID: M8903B102
Meeting Date: DEC 29, 2003 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Elect Presiding Council of Meeting For Did Not Management
Vote
2 Authorize Presiding Council to Sign For Did Not Management
Minutes of Meeting Vote
3 Reelect Directors For Did Not Management
Vote
4 Grant Permission for Board Members to For Did Not Management
Individually Sign on Behalf of Company Vote
and Be Involved with Companies with
Similar Corporate Purpose
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TURKCELL ILETISIM HIZMETLERI
Ticker: Security ID: M8903B102
Meeting Date: OCT 30, 2003 Meeting Type: Special
Record Date:
# Proposal Mgt Rec Vote Cast Sponsor
1 Elect Presiding Council of Meeting For Did Not Management
Vote
2 Authorize Presiding Council to Sign For Did Not Management
Minutes of Meeting Vote
3 Reelect Directors For Did Not Management
Vote
4 Grant Permission for Board Members to For Did Not Management
Individually Sign on Behalf of Company Vote
and Be Involved with Companies with
Similar Corporate Purpose
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
Registrant has duly caused this Report to be signed on its behalf by the
undersigned, thereunto duly authorized.
THE EMERGING MARKET TELECOMMUNICATIONS FUND, INC.
By: /s/ Hal Liebes
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Hal Liebes
Vice President and Secretary
Date: August 25, 2004