Latin American Discovery Fund Inc

Tender Price: 
Last Trade: 
Potential Gain: 
Potential Gain Max: 
Jul 10 2012 - 23:59


The Latin American Discovery Fund, Inc. (the "Fund") is offering to purchase up to 15% of its outstanding Shares, or 1,212,082 of its outstanding Shares of Common Stock, for cash at a price per Share equal to 98.5% of the net asset value ("NAV") per Share as of the close of regular trading on the New York Stock Exchange ("NYSE") on July 11, 2012 (or, if the Offer is extended, on the following business day after the date to which the Offer is extended) (the "Pricing Date") upon specified terms and subject to conditions as set forth in the Offer documents.

Odd Lot Provision: "If more than 1,212,082 Shares are duly tendered pursuant to the Offer (and not withdrawn as provided in Section 4), unless the Fund determines not to purchase any Shares, the Fund will purchase Shares from tendering Stockholders, in accordance with the terms and conditions specified in the Offer, on a pro rata basis (disregarding fractions), in accordance with the number of Shares duly tendered by or on behalf of each Stockholder (and not so withdrawn); however, the Fund will accept all Shares tendered by any Stockholder who owns, beneficially or of record, an aggregate of not more than 99 Shares and who tenders all such Shares by means of the Letter of Transmittal tendered by or on behalf of that Stockholder."

Final Results: The Fund has accepted 1,212,082 shares for payment on July 18, 2012, at $15.18 per share, which is equal to 98.5 percent of the Fund’s net asset value per share as of the close of regular trading on the New York Stock Exchange on July 11, 2012. The 1,212,082 shares represent 15 percent of the Fund’s outstanding shares. A total of 4,608,160 shares were properly tendered and not withdrawn by July 10, 2012, the final date for withdrawals. Therefore, on a pro rata basis, after making the odd-lot adjustment, approximately 24.92 percent of the shares so tendered by each tendering stockholder have been accepted for payment.

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