The Greater China Fund, Inc. Sends Important Notice Regarding Cash Election for Distributions Payable on July 31, 2008
2008年7月8日 - 12:53AM
Marketwired
NEW YORK, NY mailed to stockholders of record on June 30, 2008
an Important Notice Regarding Cash Election for Capital Gain
Distribution Payable on July 31, 2008. A copy of the Notice and a
list of frequently asked questions are available at the Fund's
website at www.greaterchinafund.com. Information about this
distribution is set forth below.
On June 20, 2008, the Board of Directors of the Fund declared a
capital gain distribution of $6.66 per share, consisting of $1.77
per share of short-term capital gains and $4.89 per share of
long-term capital gains. The distribution will be payable on July
31, 2008 to stockholders of record on June 30, 2008 with an
ex-dividend date of June 26, 2008.
The Fund will limit the aggregate amount of cash to be paid out
in the distributions to all stockholders to $33,577,621, which
represents 30% of the aggregate dollar amount of the total
distributions. If cash distribution requests exceed this limit, the
aggregate cash price will be limited to $33,577,621 and each
stockholder requesting cash will receive a pro-rata portion of the
cash paid. The pro-rata portion will be based on the total amount
of the distributions to be paid to that stockholder relative to the
total amount of the distributions to be paid to all stockholders
requesting cash. Requesting stockholders who do not receive 100% of
their distributions in cash, will receive the balance in common
stock.
To receive your distribution in cash (subject to the pro ration
as described above), you must make a cash election by:
1) 4:00 p.m. Eastern Daylight Time on July 22, 2008 if you hold
shares directly with the Fund at its transfer agent, PFPC, Inc.;
or
2) 8:00 p.m. Eastern Daylight Time on July 21, 2008 if you hold
your shares in "street name" (i.e., through a financial advisor or
a brokerage firm) at the Depository Trust & Clearing
Corporation.
How Distribution in Shares will be Calculated
Unless you elect to receive your distribution in cash, the
number of shares to be issued to you will be determined based on
the market price per share of the Fund's common stock on July 24,
2008, or the net asset value per share on that date, whichever is
lower (but not at a discount of more than 5% from the market
price). The market price of the Fund's common stock for this
purpose will be the last sales price on the New York Stock Exchange
on July 24, 2008.
The shares of the Fund are currently trading at a discount from
their net asset value. If the July 24, 2008 market price is less
than the net asset value, the issuance of shares at the lower
market price will result in a decrease in the per share net asset
value of the remaining shares of the Fund. Stockholders electing to
receive the distribution in cash will not realize the offsetting
benefit of acquiring newly issued shares at a discount to net asset
value.
You should also be aware that by electing to receive cash rather
than shares, your percentage ownership of the Fund will be
reduced.
Tax Information
Whether you receive this distribution in newly issued Fund
shares or in cash, this distribution may be reportable on your 2008
federal income tax return. In January 2009 the Fund will send
notices to stockholders regarding the federal income tax status of
all distributions made for the 2008 calendar year. The Fund's
distributions may also be subject to state and local taxes, and you
should consult your tax advisor regarding your tax situation.
Further information about the Fund, including its audited
financial statements for the fiscal year ended December 31, 2007,
is contained in the Annual Report, which is available on the Fund's
website at www.greaterchinafund.com, or can be obtained, without
charge, by calling the Fund at (800) 331-1710.
The Fund's investment objective is to seek long-term capital
appreciation by investing substantially all of its assets in listed
equity securities of companies which derive or are expected to
derive a significant portion of their revenues from goods produced
or sold, investments made or services performed in China. The
Fund's investment manager is Baring Asset Management (Asia)
Limited.
Contact: Patricia Baronowski 212-400-2604
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