NEW YORK, July 1, 2013 /PRNewswire/ -- The Thai
Capital Fund, Inc. (NYSE MKT:TF) (the "Fund") today announced that,
at a Special Meeting of Stockholders held today, shareholders
approved the liquidation and dissolution of the Fund in accordance
with a Plan of Liquidation and Dissolution approved by the Fund's
Board of Directors (the "Plan").
The Plan will become effective and the Fund will liquidate upon
the termination and liquidation of the investment plan ("Investment
Plan"), established in conformity with Thai law, through which the
Fund invests in Thai securities. Following the termination and
liquidation of the Investment Plan, the Fund will cease to invest
its assets in accordance with its investment objective and will, as
soon as reasonable and practicable, complete the sale of any
remaining portfolio securities it holds and will dissolve.
Due to uncertainties regarding the length of time needed to
complete the termination and liquidation of the Investment Plan,
the Fund is not currently in a position to estimate when the
liquidation and dissolution of the Fund will be completed.
The Fund will make a further announcement once it has determined
the likely timeframe for termination and liquidation of the
Investment Plan. At the same time, the Fund will announce
when it expects trading of the Fund's shares on the NYSE MKT to be
suspended in connection with the liquidation of the Fund.
About the Fund: The Thai Capital Fund, Inc. is a
non-diversified, closed-end fund with approximately $43 million in net assets. The Fund seeks
long-term capital appreciation which it seeks through investment
primarily in equity securities of Thai companies.
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. Past performance does not
guarantee future results.
SOURCE The Thai Capital Fund, Inc.