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.