|By PR Newswire||
|December 21, 2012 12:08 PM EST||
PHILADELPHIA, Dec. 21, 2012 /PRNewswire/ -- The Asia Tigers Fund, Inc. (NYSE: GRR; the "Fund") announced today that the Fund's semi-annual repurchase offer will commence today and terminate on January 11, 2013. In April 2002, stockholders of the Fund voted to adopt an interval fund structure, pursuant to which the Fund conducts periodic repurchase offers for between 5% and 25% of the Fund's outstanding common stock. Under the Fund's original policy, the Fund conducted quarterly repurchase offers. In February 2007, stockholders of the Fund voted to amend the policy to provide that the Fund will conduct repurchase offers on a semi-annual, rather than on a quarterly, basis. Accordingly, the Fund's Board of Directors (the "Board") authorized the Fund's repurchase offer for this semi-annual period of up to 5% of its outstanding common stock. The determination of 5% was based on consideration of several factors, including current economic and market environments, market pricing, market volatility, the Fund's discount, and tax consequences to the Fund and its stockholders.
The details of the Fund's repurchase offer are as follows:
Purpose of the Repurchase Offer – The repurchase offer is intended to provide Fund stockholders who wish to have their shares repurchased based on net asset value ("NAV") with the opportunity to have at least a portion of such shares repurchased.
What to Expect – The repurchase offer will begin on December 21, 2012, and will end on January 11, 2013. Materials will be sent to stockholders of record as of December 14, 2012, in conjunction with the start of the repurchase offer on December 21, 2012.
Price – The repurchase price of the shares will be their NAV per share at the close of regular trading on the New York Stock Exchange ("NYSE") on January 18, 2013. The shares tendered in the repurchase offer will be subject to a repurchase fee of 2% of NAV for expenses directly related to the repurchase offer.
Number of Shares – If more than 5% of the Fund's outstanding common stock is tendered, the Fund will either (1) repurchase all of the additional shares tendered, if the additional shares do not exceed 2% of the Fund's outstanding common stock, or (2) purchase 5% of the Fund's outstanding common stock on a pro-rata basis.
Deadline – The deadline for participating in the repurchase offer is 5:00 p.m. Eastern Standard Time on January 11, 2013. The NAV of the shares may fluctuate between the deadline and January 18, 2013, the pricing date of the repurchase offer. The payment date for the repurchase offer is on or before January 25, 2013.
The Fund's common stock has at times traded at a premium to the Fund's NAV per share. It may not be in a stockholder's interest to tender shares in connection with this repurchase offer if the Fund's common stock is trading at a premium. The market price of the Fund's common stock can and does fluctuate. Accordingly, on January 18, 2013, the pricing date for this repurchase offer, the market price of the Fund's common stock may be above or below the Fund's NAV per share.
To obtain the daily NAV or the NYSE closing price of the Fund's common stock, or for questions concerning the repurchase offer or for requests for the Fund's repurchase offer materials, stockholders should contact Georgeson Inc. ("Georgeson"), the Fund's Information Agent, toll free at 1-877-847-1383, or, for banks or brokers, at 212-440-9800.
Neither the Fund, its Board, nor the Investment Manager is making any recommendation to any stockholder whether to tender shares in the repurchase offer. The Fund and the Board urge stockholders to read and evaluate the repurchase offer materials carefully before deciding whether to participate in the repurchase offer. This announcement is not an offer to purchase nor a solicitation of an offer to sell shares of the Fund. The repurchase offer is being made only through the Offer to Repurchase and the related Letter of Transmittal. Holders of Fund shares should read these documents when they are available because they contain important information. These and other filed documents will be available to investors for free both at the website of the Securities and Exchange Commission and from Georgeson. The repurchase offer is not being made to, nor will tenders be accepted from or on behalf of, holders of shares in any jurisdiction in which making or accepting the repurchase offer would violate that jurisdiction's laws.
The Fund is a closed-end management investment company and its investment objective is long-term capital appreciation, which it seeks to achieve by investing primarily in equity securities of Asian companies. The Fund conducts semi-annual repurchase offers and is traded on the NYSE under the trading symbol "GRR." Aberdeen Asset Management Asia Limited serves as the Investment Manager to the Fund. The Investment Manager is an affiliate of Aberdeen Asset Management PLC.
Information on the Fund can be obtained on the Fund's website at www.aberdeengrr.com or by calling the Fund's toll-free phone number at 1-866-839-5205.
This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking and can be identified by the use of words such as "may," "will," "expect," "anticipate," "estimate," "believe," "continue" or other similar words. Such forward-looking statements are based on the Fund's current plans and expectations, and are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Additional information concerning such risks and uncertainties are contained in the Fund's filings with the Securities and Exchange Commission.
Aberdeen Asset Management Inc. has prepared this release based on information sources believed to be accurate and reliable. Investors should seek their own professional advice and should consider the investment objectives, risks, charges and expenses before acting on this information. Aberdeen is a U.S. registered service mark of Aberdeen Asset Management PLC.
Closed-end funds are traded on the secondary market through one of the stock exchanges. The Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that the Fund will achieve its investment objective. Past performance does not guarantee future results.
Aberdeen Asset Management is the marketing name in the U.S. for the following affiliated, registered investment advisers: Aberdeen Asset Management Inc., Aberdeen Asset Managers Limited, Aberdeen Asset Management Ltd. and Aberdeen Asset Management Asia Limited (collectively, the "Aberdeen Advisers"). Each of the Aberdeen Advisers is wholly owned by Aberdeen Asset Management PLC. "Aberdeen" is a U.S. registered service mark of Aberdeen Asset Management PLC.
If you wish to receive this information electronically, please contact: [email protected]
SOURCE The Asia Tigers Fund, Inc.
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
Apr. 29, 2017 02:30 AM EDT Reads: 9,336
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
Apr. 29, 2017 01:45 AM EDT Reads: 1,548
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 29, 2017 01:45 AM EDT Reads: 1,272
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
Apr. 29, 2017 01:15 AM EDT Reads: 902
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 29, 2017 12:30 AM EDT Reads: 931
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 29, 2017 12:00 AM EDT Reads: 973
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
Apr. 29, 2017 12:00 AM EDT Reads: 1,042
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Apr. 28, 2017 11:45 PM EDT Reads: 2,369
Cloud Expo, Inc. has announced today that Aruna Ravichandran, vice president of DevOps Product and Solutions Marketing at CA Technologies, has been named co-conference chair of DevOps at Cloud Expo 2017. The @DevOpsSummit at Cloud Expo New York will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and @DevOpsSummit at Cloud Expo Silicon Valley will take place Oct. 31-Nov. 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Apr. 28, 2017 11:30 PM EDT Reads: 2,747
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Apr. 28, 2017 10:45 PM EDT Reads: 1,448
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
Apr. 28, 2017 10:45 PM EDT Reads: 1,940
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Apr. 28, 2017 10:30 PM EDT Reads: 1,619
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Apr. 28, 2017 10:30 PM EDT Reads: 2,497
Join IBM November 2 at 19th Cloud Expo at the Santa Clara Convention Center in Santa Clara, CA, and learn how to go beyond multi-speed it to bring agility to traditional enterprise applications. Technology innovation is the driving force behind modern business and enterprises must respond by increasing the speed and efficiency of software delivery. The challenge is that existing enterprise applications are expensive to develop and difficult to modernize. This often results in what Gartner calls ...
Apr. 28, 2017 10:30 PM EDT Reads: 3,321
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
Apr. 28, 2017 10:15 PM EDT Reads: 2,525