NEW YORK, June 19, 2012 /PRNewswire/ -- The Taiwan
Fund, Inc. (NYSE: TWN) (the "Fund") announced today that, in
accordance with its tender offer to purchase up to 9,288,045 of the
Fund's issued and outstanding shares of common stock, which expired
on June 13, 2012, the Fund has
accepted 9,288,045 shares for payment on June 19, 2012 at $15.55 per share, which is equal to 99% of the
Fund's net asset value per share as of the close of regular trading
on the New York Stock Exchange on June
14, 2012. The Fund will make prompt payment to
participating stockholders of the purchase price for shares
accepted in the tender offer. The 9,288,045 shares represent
50% of the Fund's outstanding shares. A total of
approximately 15,372,075 shares were properly tendered and not
withdrawn by June 13, 2012, the final
date for withdrawals. Therefore, on a pro rated basis,
approximately 60.4% of the shares so tendered have been accepted
for payment.
The Fund is a diversified closed-end investment company, which
seeks long term capital appreciation primarily through investments
in equity securities listed on the Taiwan Stock Exchange.
Shares of the Fund are listed on the New York Stock Exchange under
the ticker symbol "TWN."
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 under the securities laws of any such
state.
SOURCE The Taiwan Fund, Inc.