NEW YORK, Nov. 19, 2018 /PRNewswire/ -- The Swiss Helvetia
Fund, Inc. (NYSE: SWZ), a non-diversified registered closed-end
investment company, announced today that its tender offer (the
"Offer") to acquire, in exchange for cash, up to 24,638,918 shares
of the Fund's common stock, representing approximately 65% of the
issued and outstanding shares of the Fund, expired at 5:00 p.m., Eastern Time, on November 16, 2018 (the "Expiration Date").
Based on preliminary information provided by American Stock
Transfer & Trust Company, LLC, the depositary for the Offer,
26,024,543 shares of the Fund's common stock, or approximately
68.7% of the Fund's issued and outstanding shares, were
validly tendered by the Expiration Date. This number is subject to
adjustment and should not be regarded as final. The number of
shares that will be purchased by the Fund from each stockholder
will be prorated based on the aggregate number of shares validly
tendered by all stockholders divided by 24,638,918, at a price
equal to 98% of the Fund's net asset value per share determined as
of the close of the regular trading session of the New York Stock
Exchange today, November 19, 2018.
The final number of shares validly tendered and accepted and the
price per share will be announced as soon as practicable.
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 $590.8 billion under management and
administration as of September 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.
Contact:
Jennifer Brogadir
212-641-3863
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SOURCE The Swiss Helvetia Fund, Inc.
