Taiwan Greater China Fund Announces Completion of Semi-Annual Repurchase
Published July 2nd, 2009
The Taiwan Greater China Fund (NYSE: TFC), a diversified closed-end registered investment company listed on the New York Stock Exchange (the “Fund”), announced today that it has completed the repurchase of shares of its common stock in connection with the semi-annual repurchase offer that expired on June 12, 2009. The repurchase price per share was $5.18 (100% of the net asset value per share as determined at the close of regular trading on the Taiwan Stock Exchange on June 24, 2009, to which a 2% repurchase fee was applied, such that the net amount paid was $5.08 per share).
Approximately 29.41% of the Fund’s 13,062,568 outstanding shares of common stock were submitted for repurchase on June 12, 2009 and not withdrawn in connection with the repurchase offer. Because the Fund offered to repurchase up to 5% of its shares in the repurchase offer, the Fund repurchased submitted shares on a pro rata basis as described in the repurchase offer materials. Approximately 16.99% of the shares submitted by shareholders were repurchased.
The Taiwan Greater China Fund is listed and publicly traded in the United States. The Fund is organized for investment in securities of Taiwan issuers by non-Taiwan investors and follows an investment strategy of primarily investing in Taiwan listed companies that derive or expect to derive a significant portion of their revenues from operations in or exports to mainland China.
