The Thai Capital Fund, Inc. Announces Proposed Rights Offering
NEW YORK, Dec. 5, 2012 /PRNewswire/ -- The Thai Capital Fund, Inc. (NYSE MKT:TF) (the "Fund") announced today that the Fund has filed a Registration Statement with the Securities and Exchange Commission relating to a proposed rights offering (the "Offer") entitling the holders of the Fund's common stock to subscribe for a class of preferred stock (the "Preferred Stock") of the Fund.
The Fund is extending the Offer as a way to permit stockholders that support liquidation or reorganization of the Fund to accumulate sufficient voting shares of the Fund so that the Fund is able to obtain the necessary vote on liquidation, reorganization or other corporate actions with respect to the Fund. Shortly after expiration of the Offer, the Fund intends to hold a special meeting of stockholders to consider liquidation, reorganization or other corporate action with respect to the Fund.
A Registration Statement relating to the securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the Registration Statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The 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's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
SOURCE The Thai Capital Fund, Inc.