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April 5, 2013 /PRNewswire/ -- The Thai Capital Fund, Inc. (NYSE MKT: TF), a closed-end management investment company which seeks long-term capital appreciation through investment primarily in Thai equity securities (the "Fund"), announced that it will hold a Special Meeting of Stockholders of the Fund, which will be held at the offices of Aberdeen Asset Management Inc., 712 Fifth Avenue, 49
New York, New York 10019, on
Monday, June 10, 2013 at
New York time. The Fund's Board of Directors has fixed the close of business on
April 15, 2013 as the record date for the determination of stockholders entitled to notice of and to vote at the meeting or any adjournments of the meeting.
At the Special Meeting, the Fund's stockholders will be asked to consider approval of (a) a change to one of the Fund's fundamental investment limitations and (b) the liquidation and dissolution for the Fund. The change to the Fund's fundamental investment limitations is being proposed in order to permit the Fund to issue preferred stock as part of its previously announced proposed rights offering ("Offering") entitling the holders of the Fund's common stock to subscribe for a class of preferred stock of the Fund. If stockholders do not approve liquidation and dissolution of the Fund at the Special Meeting of Stockholders, the Fund intends to conduct the Offering as a way to permit stockholders that support liquidation of the Fund to accumulate sufficient voting shares of the Fund so that the Fund is able to obtain the necessary vote on liquidation and dissolution or other corporate action at a subsequent stockholders meeting.
Additional information regarding the proposed change in one of the fundamental investment limitations and the liquidation and dissolution of the Fund will be included in a proxy statement, which the Fund intends to file with the Securities and Exchange Commission and mail to stockholders entitled to vote at the Special Meeting. Stockholders are urged to read the proxy statement when it becomes available as it will contain important information.