NEW YORK, Aug. 1, 2013 /PRNewswire/ -- The Thai
Capital Fund, Inc. (NYSE MKT: TF) (the "Fund") today announced that
in connection with the liquidation and dissolution of the Fund, the
Fund will close its share register books at the close of business
on August 12, 2013, and that trading
in the Fund's stock on the NYSE MKT will be suspended effective on
August 13, 2013. The proportionate
interests of stockholders in the assets of the Fund will be fixed
on the basis of their respective holdings at the close of business
on August 16, 2013. The Fund
anticipates paying an initial liquidating distribution, in an
amount equal to approximately 90% of the proceeds of the
liquidation of the Fund's portfolio, to stockholders as of
August 16, 2013, on or about
August 23, 2013. In addition,
the Fund's Dividend Reinvestment and Cash Purchase Plan (the
"Plan") administered by American Stock Transfer & Trust Company
will be cancelled on August 1,
2013. Whole shares held under the Plan will be transferred to
the stockholder's direct registered shares account and fractional
shares held in the Plan will be converted to cash at the
then-current market price and returned to stockholders as a part of
the liquidating distributions.
Following the initial liquidating distribution to stockholders,
the Fund will pay unpaid liabilities and obligations of the Fund.
It is anticipated that a final liquidating distribution will be
made prior to the dissolution of the Fund in September 2013.
About the Fund: The Thai Capital Fund, Inc. is a
non-diversified, closed-end fund with $43.4
million in net assets as of July 31,
2013. The Fund seeks long-term capital appreciation which it
seeks through investment primarily in equity securities of Thai
companies.
In general, 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.