PHILADELPHIA, April 5, 2013 /PRNewswire/ -- The Thai
Capital Fund, Inc. (NYSE MKT: TF), a closed-end management
investment company which seeks long-term capital appreciation
through investment primarily in Thai equity securities (the
"Fund"), announced that it will hold a Special Meeting of
Stockholders of the Fund, which will be held at the offices of
Aberdeen Asset Management Inc., 712 Fifth Avenue, 49th
Floor, New York, New York 10019,
on Monday, June 10, 2013 at
2:00 P.M., New York time. The Fund's Board of Directors
has fixed the close of business on April 15,
2013 as the record date for the determination of
stockholders entitled to notice of and to vote at the meeting or
any adjournments of the meeting.
At the Special Meeting, the Fund's stockholders will be asked to
consider approval of (a) a change to one of the Fund's fundamental
investment limitations and (b) the liquidation and dissolution for
the Fund. The change to the Fund's fundamental investment
limitations is being proposed in order to permit the Fund to issue
preferred stock as part of its previously announced proposed rights
offering ("Offering") entitling the holders of the Fund's common
stock to subscribe for a class of preferred stock of the
Fund. If stockholders do not approve liquidation and
dissolution of the Fund at the Special Meeting of Stockholders, the
Fund intends to conduct the Offering as a way to permit
stockholders that support liquidation of the Fund to accumulate
sufficient voting shares of the Fund so that the Fund is able to
obtain the necessary vote on liquidation and dissolution or other
corporate action at a subsequent stockholders meeting.
Additional information regarding the proposed change in one of
the fundamental investment limitations and the liquidation and
dissolution of the Fund will be included in a proxy statement,
which the Fund intends to file with the Securities and Exchange
Commission and mail to stockholders entitled to vote at the Special
Meeting. Stockholders are urged to read the proxy statement when it
becomes available as it will contain important information.
The Fund also announced that its Annual Meeting of Stockholders,
previously scheduled to be held on June 10,
2013, was being postponed pending the outcome of a vote on
liquidation and dissolution of 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.
www.thaicapitalfund.com
SOURCE The Thai Capital Fund, Inc.