NEW YORK, Aug. 23, 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, that it paid an initial liquidating
distribution of U.S. $10.93 per share
to all stockholders of record as of August
16, 2013. The amount of the distribution was equal to
approximately 90% of the proceeds of the liquidation of the Fund's
portfolio. This distribution is comprised of U.S. $0.3479 per share of long-term capital gains,
U.S. $0.6181 of short-term capital
gains and U.S. $9.9640 return of
capital.
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.
In January 2014, a Form 1099-DIV
will be sent to stockholders, which will state the amount and
composition of distributions and provide information with respect
to their appropriate tax treatment for the 2013 calendar year.
Trading of the Fund's shares on the NYSE MKT was suspended on
August 13, 2013.
Circular 230 disclosure: To ensure compliance with requirements
imposed by the U.S. Treasury, we inform you that any U.S. tax
advice contained in this communication (including any attachments)
is not intended or written to be used, and cannot be used, for the
purpose of (i) avoiding penalties under the Internal Revenue Code
or (ii) promoting, marketing or recommending to another party any
transaction or matter addressed herein.
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.
SOURCE The Thai Capital Fund, Inc.