The Central Europe and Russia Fund, Inc. Announces Change of Ex-Rights Date for Rights Offering.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The Central Europe Central Europe is the region lying between the variously and vaguely defined areas of Eastern and Western Europe. In addition, Northern, Southern and Southeastern Europe may variously delimit or overlap into Central Europe. and Russia Fund, Inc. (NYSE NYSE See: New York Stock Exchange : CEE cee n. The letter c. ) announced on December 13, 2005 that its Board of Directors had approved the terms of a transferable rights offering of additional common stock of the Fund (the "Offer"). The Ex-Rights Date Ex-rights date The date on which a share of common stock with rights on it begins trading ex-rights. ex-rights date The first day of trading on which new buyers of a firm's stock will not be entitled to receive recently declared rights to for the Offer will be determined by the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. pursuant to its normal procedures. The Ex-Rights Date will not be December 19, 2005, as stated in the Fund's December 13 press release. The Fund will issue a press release to notify stockholders of when the rights have been admitted for trading and of the Ex-Rights Date once these dates have been determined by the NYSE. The Central Europe and Russia Fund, Inc. is a non-diversified, closed-end investment company closed-end investment company: see mutual fund. seeking long term capital appreciation through investment primarily in equity and equity-linked securities of issuers domiciled in Central Europe and Russia. Its shares are listed on the NYSE under the symbol "CEE". Because the Fund is non-diversified it can take larger positions in fewer companies, increasing its overall risk profile. Investments in securities of foreign issuers present greater risks including currency fluctuations and changes in political/economic conditions. Foreign securities markets generally exhibit greater price volatility and are less liquid than the US markets. Shares of closed-end funds frequently trade at a discount to net asset value. The price of the Fund's shares is determined by a number of factors, several are beyond the control of the Fund. Therefore, the Fund cannot predict the trading price Trading price The price at which a security is currently selling. of its shares in relation to net asset value. Before investing in the Fund, investors should carefully consider the investment objective, risks, and charges and expenses of the Fund. This information can be found in the Fund's prospectus on file with the Securities and Exchange Commission. An investor should carefully read the Fund's prospectus before investing. This announcement is not an offer to sell these securities and is not soliciting an offer to buy these securities in any state where the offer or sale is not permitted. The offer will be made only by means of a prospectus and only after the registration statement on file with the Securities and Exchange Commission has been declared effective. The final terms of the offer may be different from those discussed above. NOT FDIC/NCUA INSURED MAY LOSS VALUE NO BANK GUARANTEE NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion