NEW YORK, Oct. 22, 2018 /PRNewswire/ -- The Swiss Helvetia
Fund, Inc. (NYSE: SWZ), a non-diversified registered closed-end
investment company, announced today the commencement of a one-time
tender offer (the "Offer") on the terms and conditions set forth in
the Fund's offer to purchase and the related letter of transmittal,
which are being mailed to the Fund's stockholders commencing
today.
Pursuant to the Offer, the Fund is offering to purchase, in
exchange for cash, up to 65% of its outstanding shares of common
stock at a price equal to 98% of the Fund's net asset value ("NAV")
per share as of the close of regular trading on the New York Stock
Exchange ("NYSE") on the business day immediately following the day
the Offer expires. The Offer will terminate at 5:00 p.m. New York City Time on November 16, 2018, unless extended. The pricing
date will be November 16, 2018,
unless the Offer is extended. If more than 65% of the Fund's
outstanding shares of common stock are tendered in the Offer and
the Fund purchases its shares in accordance with the terms of the
Offer, the Fund will purchase its shares from tendering
stockholders on a pro rata basis at a price equal to 98% of the
Fund's NAV per share.
The Offer referred to in this announcement will be made only by
the offer to purchase and the related letter of transmittal.
Stockholders should read these documents carefully once they are
filed with the Securities and Exchange Commission and become
available to stockholders free of charge, as they will contain
important information about the Offer. Neither the Offer will be
made to, nor will tenders pursuant to the Offer be accepted from or
on behalf of, the Fund's stockholders in any jurisdiction in which
making or accepting the Offer would violate that jurisdiction's
laws.
For more information on the Offer, please contact the Fund's
information agent, AST Fund Solutions, LLC, toll free at (888)
540-8736 between the hours of 9:00 a.m. and
5:00 p.m., Eastern time, Monday through Friday (except
holidays).
About The Swiss Helvetia Fund, Inc.
The Fund (www.swzfund.com) is a non-diversified, closed-end
investment company seeking long-term capital appreciation through
investment in equity and equity-linked securities of Swiss
companies. Its shares are listed on the NYSE under the symbol
"SWZ." The Fund seeks to achieve its investment objective by
investing generally in Swiss equity and equity-linked securities
that are traded on a Swiss stock exchange, traded at the pre-bourse
level of one or more Swiss stock exchanges, traded through a market
maker or traded over the counter in Switzerland. The Fund also may invest in Swiss
equity and equity-linked securities of Swiss companies that are
traded on other major European stock exchanges.
Closed-end funds, unlike open-end funds, are not continuously
offered. Typically, shares of closed-end funds are sold in the open
market through a stock exchange. Shares of closed-end funds
frequently trade at a discount to net asset value. The price of the
Fund's shares is determined by a number of factors, several of
which are beyond the control of the Fund. Therefore, the Fund
cannot predict whether its shares will trade at, below or above net
asset value.
The Fund is managed by Schroder Investment Management North
America Inc.
About Schroder Investment Management North America
Inc.
Schroder Investment Management North America Inc. and Schroder
Investment Management North America Limited, investment advisors
registered with the U.S. SEC, are units of Schroders plc (SDR.L), a
global asset management company with approximately $593.3 billion under management and
administration as of June 30, 2018. Schroder's clients include
major financial institutions including banks and insurance
companies, as well as local and public authorities, public and
private pension funds, endowments and foundations, intermediaries
and advisors, as well as high net worth individuals and retail
investors. The firm has built one of the largest networks of
offices of any dedicated asset management company with more than
500 portfolio managers and analysts covering the world's investment
markets, offering a comprehensive range of products and
services.
Schroder Investment Management North America Inc. provides asset
management products and services to clients in the U.S. and
Canada. Schroder Investment
Management North America Inc. is an indirect, wholly-owned
subsidiary of Schroders plc, a U.K. public company with shares
listed on the London Stock Exchange.
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.
This announcement is not a recommendation, an offer to
purchase or a solicitation of an offer to sell shares of the Fund.
The Fund is filing today with the SEC a tender offer statement on
Schedule TO and related exhibits, including an offer to purchase,
letter of transmittal, and other related documents. Stockholders of
the Fund should read these documents carefully, as they contain
important information about the Offer. Stockholders will be able to
obtain these documents free of charge, when they become available
today, from the SEC's website (www.sec.gov ), the Fund's website
(www.swzfund.com) or the Fund's information agent, AST Fund
Solutions, LLC, toll free at (888) 540-8736.
Contact:
Jennifer Brogadir
212-641-3863
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SOURCE The Swiss Helvetia Fund, Inc.
