The Thai Fund, Inc. Announces Proposed Record Date for Its Rights Offering
13 May 2006 - 7:41AM
Business Wire
The Thai Fund, Inc. (the "Fund") (NYSE: TTF), a closed-end
management investment company, announced the proposed record date
for an anticipated rights offering of its shares of common stock
(the "Offering"). Subject to the registration statement for the
Offering becoming effective under the Securities Act of 1933, as
amended, the Fund will issue to stockholders of record as of May
23, 2006 (the "Record Date") one non-transferable right for each
share of common stock held. Four rights will entitle the holder to
purchase one share of common stock at the subscription price. The
Offering will only be made by means of a prospectus to be
distributed to Record Date stockholders on or about May 26, 2006.
The subscription price has not yet been determined by the Fund. The
subscription price, which will be determined on the expiration date
of the Offering (the "Expiration Date"), will equal 95% of the
average of the last reported sales price per share of the Fund's
common stock on the New York Stock Exchange on the Expiration Date
of the Offering and for the four preceding trading days, with a
requirement that the price be no lower than the net asset value per
share of common stock of the Fund at the close of trading on the
New York Stock Exchange on the Expiration Date. Stockholders who
fully exercise all rights issued to them will be entitled to
subscribe for additional shares at the subscription price pursuant
to an oversubscription privilege. If all available shares are then
subscribed for, the Fund may issue additional shares in an amount
up to 25% of the shares available pursuant to the Offering. If all
subscription rights are exercised (including the additional 25%),
the Fund will issue approximately 4,150,810 shares of its common
stock in the Offering. The subscription rights are exercisable from
May 30, 2006 until, up to and including, 5:00 p.m. New York City
time on June 19, 2006, the Expiration Date, unless extended by the
Fund. For further information regarding the Fund's rights offering,
or to obtain a Prospectus, when available, please contact the
Fund's Information Agent: -0- *T GEORGESON SHAREHOLDER
COMMUNICATIONS, INC. 17 State Street, 10th Floor New York, NY 10004
Toll free: (800) 509-4953 or For Banks and Brokers: (212) 440-9800
*T The Fund's U.S. investment adviser is Morgan Stanley Investment
Management Inc. ("MSIM"), a wholly owned subsidiary of Morgan
Stanley. MSIM, with over 400 investment professionals around the
world, has more than $442 billion in assets under management or
supervision as of February 28, 2006. MSIM offers investment
management services to a diverse client base, which includes
governments, institutions, corporations and individuals. Morgan
Stanley (NYSE: MS) is a global financial services firm and a market
leader in securities, investment management and credit services.
With more than 600 offices in 30 countries, Morgan Stanley connects
people, ideas, and capital to help clients achieve their financial
aspirations. Investors should consider the Fund's investment
objective, risks and charges and expenses carefully before
investing. The prospectus contains this and other information about
the Fund and can be obtained from Georgeson Shareholder
Communications, Inc., as set forth above. Investors should read the
prospectus carefully before investing. Please note that a
registration statement relating to the Fund's shares of common
stock has been filed with the Securities and Exchange Commission
but has not yet become effective. The information in this
registration statement, and this press release, is not complete and
may be changed. These securities may not be sold nor may offers to
buy be accepted prior to the time the registration statement
becomes effective. This communication shall not constitute an offer
to sell or the solicitation of any offer to buy, nor shall there by
any sale of these securities in any state in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any state. -0- *T For
media inquiries, please contact: Andrea Slattery Media Relations
212-762-3487 *T
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