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.
Yeah, I know, discovered that later but this board is so dead I didn't bother to correct myself - fund was GCH, not CHN, article showed up on TDA streaming news as a CHN item - TDA streamer is *really* stupid sometimes, algorithm needs tweaked.