Key Developments: Korea Equity Fund Inc (KEF)
8.46USD
24 May 2013
$-0.11 (-1.28%)
$8.57
$8.52
$8.52
$8.43
2,150
27,215
$10.16
$8.20
Latest Key Developments (Source: Significant Developments)
Korea Equity Fund Inc to Delist its Stock from OSE
Korea Equity Fund Inc announced that it has decided to delist its stock from the Osaka Securities Exchange, effective August 29, 2012. The Company will still list its stock on the New York Stock Exchange. Full Article
Korea Equity Fund Inc Announces Final Results Of Cash Tender Offer
Korea Equity Fund Inc announced the final results of its cash tender offer to purchase up to 1,082,292 shares of the outstanding common stock of the Fund. The offer and withdrawal rights expired at 5:00 p.m., New York City time, on March 5, 2012. The Fund's offer represented an offer to purchase up to approximately 10% of its outstanding shares of common stock. Based on information provided by Computershare Trust Company, N.A., the depositary for the tender offer, approximately 6,919,660 shares, or approximately 63.94% of the Fund's outstanding shares of common stock, were properly tendered for purchase and not withdrawn prior to the expiration of the Fund's offer. Because the total number of shares tendered exceeds the number of shares the Fund offered to purchase, the Fund has accepted for payment the maximum number of shares covered by the offer, and all tenders of shares are subject to proration, as described in the tender offer materials provided to shareholders. The purchase price is $10.33 per share, which represents a price equal to 98% of the net asset value per share in U.S. dollars as of the close of regular trading on the New York Stock Exchange on March 6, 2012. The number of shares accepted for purchase is 1,082,292, and the aggregate proceeds to be distributed are $11,180,076.36. Proceeds of the tender offer will be distributed to shareholders promptly. Full Article
Korea Equity Fund Inc Announces Expiration Of Cash Tender Offer
Korea Equity Fund Inc announced the expiration of its cash tender offer to purchase up to 1,082,292 shares of the outstanding common stock of the Fund. The offer and withdrawal rights expired on March 5, 2012. Full Article
Korea Equity Fund Inc Announces The Commencement Of A Cash Tender Offer
Korea Equity Fund Inc (the Fund) announced the commencement of a cash tender offer to purchase up to 1,082,292 shares of the Fund, representing approximately 10% of the Fund's outstanding shares, at a price equal to 98% of the Fund's net asset value (NAV) per share as of as of the close of regular trading on the New York Stock Exchange on the business day immediately following the day the tender offer expires. The offer commenced today, January 31, 2012, and will expire at 5:00 p.m. EST, March 5, 2012, unless the offer is extended. Additional terms and conditions of the tender offer are set forth in the Fund's tender offer materials. This announcement is not a recommendation, an offer to purchase or a solicitation of an offer to sell shares of the Fund. Full Article
Korea Equity Fund Inc. Announces Conditional Tender Offer
Korea Equity Fund Inc. announced that the Fund intends to commence a tender offer for up to 10% of its outstanding shares during the fourth calendar quarter of 2011 if the Fund's shares trade at a volume-weighted average discount of more than 7.5% for a period of ten consecutive trading days during the third quarter of 2011. The Fund will announce the specific terms and timing for such an offer following the end of the third quarter. The Board of Directors will continue to monitor the extent to which the Fund's shares may trade at a discount from their net asset value. Full Article
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