The Greater China Fund, Inc. (NYSE: GCH) Announces Final Results of Tender Offer
2011年10月21日 - 1:48AM
Marketwired
The Greater China Fund, Inc. (NYSE: GCH) ( the "Fund") announced
today that in accordance with the Fund's tender offer (the "Tender
Offer") for up to 6,067,002 of its issued and outstanding shares of
common stock, which expired October 14, 2011, the Fund has accepted
6,067,002 shares for payment at $11.30 per share, which is equal to
98% of the Fund's net asset value per share as of the close of
regular trading on the New York Stock Exchange on October 17, 2011.
The 6,067,002 shares represent approximately 20% of the Fund's
issued and outstanding shares. A total of 7,865,202 shares, or
approximately 25.9% of the Fund's issued and outstanding common
stock, were properly tendered and not withdrawn prior to the
expiration of the Tender Offer. Therefore, on a pro rated basis,
approximately 77.14% of the shares properly tendered by each
tendering stockholder have been accepted for payment.
For more information about the Tender Offer please contact The
Altman Group, Inc., the Fund's Information Agent for the Tender
Offer, by calling toll-free (800) 884-5101 between the hours of
9:00 a.m. and 5:00 p.m., Eastern Time, Monday through Friday
(except holidays).
Closed-end funds, unlike open-end funds, are
not continuously offered. There is a one-time public offering and
once issued, shares of closed-end funds are sold in the open market
through a share exchange. Shares of closed-end funds frequently
trade at a discount to the net asset value. The price of a fund's
shares is determined by a number of factors, several of which are
beyond the control of the fund. Therefore, a fund cannot predict
whether its shares will trade at, below or above net asset
value.
This press release shall not constitute an
offer to sell or a solicitation to buy, nor shall there be any sale
of the Fund's shares in any state or jurisdiction in which such
offer or solicitation or sale would be unlawful prior to
registration or qualification under the laws of such state or
jurisdiction.
CONTACT: WARREN ANTLER 212-400-2605 Email
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