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China Fund, Inc. (The) Common S Message Board

  • ex_hacker202 ex_hacker202 Feb 7, 2013 11:18 AM Flag

    Tender offer results

    See last sentence of 2nd para highlighted with **** on either end - did anyone realize after reading the tender offer that there was a possibility the fund might be dissolved?!? I don't recall reading anything in there that said that - didn't tender any shares either - how many here did?

    The Greater China Fund, Inc. (NYSE: GCH) Announces Preliminary Results of Tender Offer
    Last update: 2/7/2013 9:35:00 AM
    Less than 75% of the Outstanding Shares Tendered
    NEW YORK, Feb. 7, 2013 /PRNewswire via COMTEX/ -- The Greater China Fund, Inc. (GCH) (the "Fund") announced today the expiration and preliminary results of the Fund's tender offer (the "Tender Offer") for up to 16,987,608 of its issued and outstanding shares of common stock, par value $0.001 per share. The Tender Offer was for up to 70% of the Fund's issued and outstanding shares. The Tender Offer expired at 11:59 p.m., Eastern Time, on February 6, 2013 (the "Expiration Date").

    Based upon current information, approximately 15,966,299 shares, or approximately 65.8% of the Fund's issued and outstanding common stock, were tendered through the Expiration Date, including shares tendered pursuant to notices of guaranteed delivery. These numbers are subject to adjustment and should not be regarded as final. ****Because less than 75% of the Fund's shares were tendered in the Tender Offer, the Tender Offer was not cancelled and the Fund will not be required pursuant to its previously disclosed agreement to solicit proxies from stockholders for the liquidation and dissolution of the Fund.****

    No more than a total of 16,987,608 properly tendered shares will be accepted in exchange for cash at a price equal to 99% of the Fund's net asset value ("NAV") per share, as determined later today, February 7, 2013, following the close of business on the New York Stock Exchange. The final number of shares validly tendered and accepted pursuant to the Tender Offer and the price per share will be announced at a later date.

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