Welcome!

News Feed Item

The Asia Tigers Fund, Inc. Announces Commencement Date of Semi-Annual Repurchase Offer

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.

(Logo: http://photos.prnewswire.com/prnh/20121106/NE07292LOGO )

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.

Important Information

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.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Manufacturers are embracing the Industrial Internet the same way consumers are leveraging Fitbits – to improve overall health and wellness. Both can provide consistent measurement, visibility, and suggest performance improvements customized to help reach goals. Fitbit users can view real-time data and make adjustments to increase their activity. In his session at @ThingsExpo, Mark Bernardo Professional Services Leader, Americas, at GE Digital, discussed how leveraging the Industrial Internet and...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @CloudExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
"Matrix is an ambitious open standard and implementation that's set up to break down the fragmentation problems that exist in IP messaging and VoIP communication," explained John Woolf, Technical Evangelist at Matrix, in this SYS-CON.tv interview at @ThingsExpo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
While DevOps most critically and famously fosters collaboration, communication, and integration through cultural change, culture is more of an output than an input. In order to actively drive cultural evolution, organizations must make substantial organizational and process changes, and adopt new technologies, to encourage a DevOps culture. Moderated by Andi Mann, panelists discussed how to balance these three pillars of DevOps, where to focus attention (and resources), where organizations might...
Zerto exhibited at SYS-CON's 18th International Cloud Expo®, which took place at the Javits Center in New York City, NY, in June 2016. Zerto is committed to keeping enterprise and cloud IT running 24/7 by providing innovative, simple, reliable and scalable business continuity software solutions. Through the Zerto Cloud Continuity Platform™, organizations can seamlessly move and protect virtualized workloads between public, private and hybrid clouds. The company’s flagship product, Zerto Virtual...
Some people worry that OpenStack is more flash then substance; however, for many customers this could not be farther from the truth. No other technology equalizes the playing field between vendors while giving your internal teams better access than ever to infrastructure when they need it. In his session at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will talk through some real-world OpenStack deployments and look into the ways this can benefit customers of all sizes....
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.