Morgan Stanley Asia-Pacific Fund, Inc. Announces Commencement of Tender Offer
May 13 2013 - 3:30PM
Business Wire
Morgan Stanley Asia-Pacific Fund, Inc. (NYSE: APF) (the “Fund”)
announced today the commencement of a tender offer by the Fund to
acquire in exchange for cash up to 5 percent of the Fund’s
outstanding shares at a price equal to 98 percent of the Fund’s net
asset value per share as of the close of regular trading on the New
York Stock Exchange on the business day immediately following the
day the offer expires (the “Tender Offer”). 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 net asset value per
share.
The Tender Offer is being made on the terms and subject to the
conditions set forth in the Offer Notice and related Letter of
Transmittal in connection with commencement of the Tender Offer on
May 13, 2013 and termination of the Tender Offer at 11:59 p.m. New
York time on June 10, 2013, unless extended. The pricing date will
be June 11, 2013, unless the Tender Offer is extended.
In connection with the Tender Offer, the Fund has temporarily
suspended any purchases of shares in the open market pursuant to
its share repurchase program until on or about 10 business days
after the termination of the Tender Offer, as required by the
Securities Exchange Act of 1934, as amended.
This announcement is not a recommendation, an offer to purchase
or a solicitation to sell any securities of the Fund. The Tender
Offer is being made only by an Offer Notice, a related Letter of
Transmittal and other documents, which will be filed with the
Securities and Exchange Commission. Shareholders of the Fund should
read the Offer Notice, Tender Offer statement and related exhibits
when those documents are filed and become available, as they will
contain important information about the Tender Offer. These and
other filed documents are available to investors for free both at
the website of the Securities and Exchange Commission and from the
Fund. Shareholders may obtain further information regarding the
Tender Offer from Georgeson Inc., the Information Agent for the
Tender Offer, by calling (888) 654-1722.
Morgan Stanley Investment Management, together with its
investment advisory affiliates, has over 550 investment
professionals around the world and $341 billion in assets under
management or supervision as of March 31, 2013. MSIM strives to
provide outstanding long-term investment performance, service and a
comprehensive suite of investment management solutions to a diverse
client base, which includes governments, institutions, corporations
and individuals worldwide.
Morgan Stanley is a leading global financial services firm
providing a wide range of investment banking, securities,
investment management and wealth management services. The Firm’s
employees serve clients worldwide including corporations,
governments, institutions and individuals from more than 1,200
offices in 43 countries. For further information about Morgan
Stanley, please visit www.morganstanley.com.
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.
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