The Chile Fund, Inc. Announces Delay of Tender Offer to April 2010 Commencement
PHILADELPHIA, March 22 /PRNewswire-FirstCall/ -- The Chile Fund, Inc. (NYSEAMEX: CH) (the "Fund"), a closed-end equity fund, announced today that its previously announced tender offer, which was anticipated to commence during the first quarter of 2010, will now commence on or prior to April 30, 2010. The Board of Directors approved the delay in light of the tragic earthquake in Chile, as well as the transition within the Chilean government, each of which led to unanticipated delays in obtaining certain regulatory approvals. As previously announced, the tender offer will be for 25% of the Fund's common shares at a price equal to 99% of the net asset value per share. The exact date within April for the commencement of the offer and the form of payment for tendered shares (cash or in-kind securities) remains to be determined.
This announcement is not an offer to purchase or solicitation of an offer to sell shares of the Fund. The Fund has not commenced the tender offer described in this release. Any tender offer will be made only by an Offer for Repurchase or Offer to Purchase for Cash, a related Letter of Transmittal and other documents which will be filed with the U.S. Securities and Exchange Commission (the "SEC") as exhibits to a tender offer statement on Schedule TO. Holders of Fund shares should read these documents once they are filed and become available because they will contain important information about the tender offer. These and other documents filed by the Fund, including the Fund's annual report for the fiscal year ended December 31, 2009, will be available to investors for free both on the SEC's website at http://www.sec.gov and from the Fund. The offer is not being made to, nor will tenders be accepted from or on behalf of, holders of shares in any jurisdiction in which making or accepting the offer would violate that jurisdiction's laws.
The Fund is managed and advised by Aberdeen Asset Management Investment Services Limited. The Fund's shares trade on the NYSE AMEX under the symbol "CH".
Statements made in this release that look forward in time involve risks and uncertainties and are forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such risks and uncertainties include, without limitation, the adverse effect from a decline in the securities markets or a decline in the Fund's performance, a general downturn in the economy, competition from other companies, changes in government policy or regulation, inability to attract or retain key employees, inability to implement its operating strategy and/or acquisition strategy, and unforeseen costs and other effects related to legal proceedings or investigations of governmental and self-regulatory organizations.
If you wish to receive this information electronically, please contact [email protected]
SOURCE The Chile Fund, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article