Printer Friendly

THE FIRST AUSTRALIA PRIME INCOME FUND PROPOSES A RIGHTS OFFERING

 THE FIRST AUSTRALIA PRIME INCOME FUND PROPOSES A RIGHTS OFFERING
 NEW YORK, Aug. 13 /PRNewswire/ -- The First Australia Prime Income Fund, Inc. (AMEX: FAX) is proposing to offering additional shares of its common stock pursuant to a proposed rights offering.
 No rights offering will be made until the fund announces its definitive terms which may differ from those currently proposed.
 The fund expects to issue one-sixth of a non-transferable right for each full share of common stock owned of record on a record date to be determined. As currently formulated, common shareholders would be entitled to acquire one share of common stock for each full right at a formula price which would be the lower of 95 percent of an average of last reported sales prices or 95 percent of net asset value of a share of common stock on a given date.
 The definitive terms or the rights offering will be set forth in a prospectus which will be sent to fund shareholders.
 The First Australia Prime Income Fund is a non-diversified, closed- end management company whose investment objective is current income through investment primarily in Australian debt securities. The fund may also achieve incidental capital appreciation.
 The fund's investment manager is EquitiLinik International Management Limited and its investment adviser is EquitiLink Australia Limited.
 The dealer-managers for the fund's offering are Merrill Lynch & Co. and Prudential Securities Incorporated.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 8/13/92
 /CONTACT: Marissa Moretti or Corey Cutler of Dewe Rogerson, Inc., 212-688-6840, for the First Australia Prime Income Fund/
 (FAX) CO: First Australia Prime Income Fund, Inc. ST: New York IN: FIN SU: OFR


AH-PS -- NY089 -- 9783 08/13/92 17:56 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 13, 1992
Words:371
Previous Article:OHIO POWER TO BEGIN WORK ON GAVIN SCRUBBERS
Next Article:KEY TRONIC ELECTS MORE OUTSIDE DIRECTORS
Topics:


Related Articles
FIRST AUSTRALIA PRIME INCOME FUND ANNOUNCES DIVIDEND
FIRST AUSTRALIA PRIME INCOME FUND ANNOUNCES DIVIDEND
FIRST AUSTRALIA PRIME INCOME FUND ANNOUNCES DIVIDEND
THE FIRST AUSTRALIA PRIME INCOME FUND ANNOUNCES FINAL TERMS OF ITS RIGHTS OFFERING
FIRST AUSTRALIA PRIME INCOME FUND ANNOUNCES DIVIDEND
THE FIRST AUSTRALIA PRIME INCOME FUND, INC. ANNOUNCES FINAL RESULTS OF RIGHTS OFFERING
FIRST AUSTRALIA PRIME INCOME FUND ANNOUNCES DIVIDEND
THE FIRST AUSTRALIA PRIME INCOME FUND, INC. ANNOUNCES FILING FOR A RIGHTS OFFERING
THE FIRST AUSTRALIA PRIME INCOME FUND, INC. ANNOUNCES FILING FOR A RIGHTS OFFERING
THE FIRST AUSTRALIA PRIME INCOME FUND, INC. ANNOUNCES FILING FOR A PROPOSED RIGHTS OFFERING

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters