Taiwan Greater China Fund Announces Expiration of Semi-Annual Repurchase Offer and Preliminary Results
The Shelton Greater China Fund (NYSE: TFC), announced today the expiration of its semi-annual repurchase offer for its shares of common stock. The offer and withdrawal rights expired at 5:00 p.m., New York City time, on Friday, June 10, 2011.
The Fund offered to repurchase up to 5% of its shares in the semi-annual repurchase offer. Based on current information, approximately 5,168,320 shares, or approximately 48.58% of the Fund's outstanding shares of common stock, were submitted for repurchase and not withdrawn prior to the expiration of the Fund's repurchase offer. The number of shares submitted for repurchase provided above is preliminary and is subject to adjustment as the Fund verifies that all requirements for participation have been met by each shareholder that submitted shares for repurchase.
The repurchase price for the shares will be the Fund's net asset value per share as determined at the close of regular trading on the Taiwan Stock Exchange on June 17, 2011 or, if the Taiwan Stock Exchange is not open on June 17, 2011, at the opening of the NYSE on June 17, 2011. The shares repurchased in the repurchase offer will be subject to a repurchase fee of 2% of the net asset value per share to offset expenses related to the repurchase offer.
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