Thai Fund Inc Tender Offer (no special proration provision for odd-lots)

Posted on August 20, 2013 by admin
  • Company: Thai Fund Inc.
  • Ticker: TTF
  • Market Cap: 308M
  • Size of Action: 46M
  • Type of Transaction: Tender Offer at 98.5% of NAV
  • Current Price: $20.50
  • Exchange Price: $23.09 (estimate based on current NAV)
  • Potential Gain (%): 13.2%
  • Expiration: September 10, 2013
  • Tender Limit (Shares): 99
  • Max Investment ($): NA
  • Max Gain ($): NA
  • Sec Filing: http://www.sec.gov/Archives/edgar/data/822794/000110465913062721/a13-16532_1ex99da1i.htm
  • Summary: The Thai Fund, Inc., a Maryland corporation (the "Fund"), registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a closed-end, non-diversified management investment company, hereby offers to purchase up to 15% of the Fund's outstanding Shares of Common Stock or 2,264,413 shares in the aggregate (the "Offer Amount"), of its Common Stock, par value $0.01 per Share (the "Shares"), at a price (the "Purchase Price") per Share, net to the seller in cash, equal to 98.5% of the net asset value per Share ("NAV") in U.S. dollars as of the close of regular trading on the NYSE on September 10, 2013, or the next business day following such later date to which the Offer is extended (the "Pricing Date"), upon the terms and subject to the conditions set forth in this Issuer Tender Offer Statement and in the related Letter of Transmittal (which together constitute the "Offer"). The depositary for the Offer is Computershare (the "Depositary"). The Fund mailed materials for the Offer to record holders on or about August 12, 2013.
  • Odd Lots: This tender offer will not have any special pro ration provision for odd-lot tenders, which means that all odd-lot tenders (including Stockholders who own fewer than 100 Shares) are subject to pro ration.
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