Morgan Stanley Asia-Pacific Fund, Inc. (NYSE: APF) (the “Fund”) announced the results of its measurement period under its previously announced discount management program (the “Program”). Pursuant to the Program, the Fund’s Board of Directors approved up to four consecutive semi-annual tender offers, each to purchase up to 5 percent of the Fund’s outstanding shares of common stock for cash at a price equal to 98 percent of its net asset value (“NAV”) per share if the Fund’s shares trade at an average discount of at least 10 percent over a 12-week period. For the 12-week measurement period ended March 30, 2012, shares of the Fund traded at an average daily discount to NAV of 10.44 percent. The Fund will therefore conduct a tender offer commencing on May 17, 2012, in accordance with the terms of the Program.
The timing of the Fund’s tender offer will be announced as soon as practicable. Additional terms and conditions of the Fund’s tender offer will be set forth in its offering materials, which will be distributed to its stockholders. If more than 5 percent of the Fund’s outstanding shares are tendered, the Fund will purchase its shares from tendering stockholders on a pro rata basis at a price of 98 percent of the Fund’s NAV per share.
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This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful under the securities laws of any such state.