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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Thai Capital Fund | AMEX:TF | AMEX | Ordinary Share |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
SCHEDULE 13D
DATE OF EVENT WHICH REQUIRES FILING OF THIS STATEMENT
7/13/12
1. NAME OF REPORTING PERSON
Bulldog Investors, Brooklyn Capital Management,
Phillip Goldstein and Andrew Dakos
2. CHECK THE BOX IF MEMBER OF A GROUP a[X]
b[]
3. SEC USE ONLY
4. SOURCE OF FUNDS WC
5. CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) AND 2(e) []
7. SOLE VOTING POWER 545,624
8. SHARED VOTING POWER 144,864
10. SHARED DISPOSITIVE POWER
0
11. AGGREGATE AMOUNT OWNED BY EACH REPORTING PERSON 690,488
12. CHECK IF THE AGGREGATE AMOUNT EXCLUDES CERTAIN SHARES
13. PERCENT OF CLASS REPRESENTED BY ROW 11
19.37%
14. TYPE OF REPORTING PERSON
Item 1. SECURITY AND ISSUER
This Schedule 13D relates to the shares of Common Stock
of Thai Capital Fund, Inc.
("TF" or the "Issuer").
The principal executive offices of TF are located at
ONE EVERTRUST PLAZA- 9TH FL
DAIWA SECURITIES TRUST CO
JERSEY CITY NJ 07302-3051
Item 2. IDENTITY AND BACKGROUND
This statement is filed on behalf of Bulldog Investors,
Brooklyn Capital Mangement, Phillip Goldstein,
60 Heritage Drive Pleasantville, NY 10570 a principal of Bulldog Investors
and Andrew Dakos, Park 80 West,Saddle Brook, NJ 07663, also a principal
of Bulldog Investors. Mr.Goldstein and Mr. Dakos are self-employed
investment advisors.
On October 17, 2007 the Massachusetts Secretary of State issued a permanent "obey the law" injunction and fined Bulldog Investors, Messrs. Goldstein and Dakos and certain related parties (the "Respondents") $25,000 for operating an open website containing information about certain unregistered investments and sending an e-mail about such investments to a Massachusetts resident who requested information. On April 5, 2012, the President signed the JOBS Act which expressly permits such acts. Consequently, on June 29, 2012, the Respondents submitted a motion to the Secretary to vacate his order.
ITEM 3. SOURCE AND AMOUNT OF FUNDS AND OTHER CONSIDERATIONS
Shares of the Issuer have been accumulated on behalf of managed
accounts.
ITEM 4. PURPOSE OF TRANSACTION
On July 2, 2012, the Fund announced that (1) a proposal by the Board of
Directors to liquidate the Fund was not approved by the affirmative vote of
the holders of at least 66 2/3% of the outstanding shares of capital stock
at the annual meeting, and (2) the Fund will continue its operations as a
registered investment company in accordance with its stated investment
objective and policies. It also announced that the Board of Directors will
meet to consider what, if any, steps to take in the best interests of the
Fund and its stockholders.
The filing group believes that the overwhelming majority of votes cast at the meeting were in favor of the liquidation proposal. Therefore, it believes the status quo is unacceptable and that Board has a fiduciary duty to act promptly to afford stockholders liquidity at or close to net asset value. Should the Board fail to act promptly, the filing group may consider other options including seeking representation on the Board.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
As per the N-CSRS filed on March 9, 2012 there were 3,564,814 shares of
common stock outstanding as of December 31, 2011 The percentage set forth in
item 5 was derived using such number. Bulldog Investors, Brooklyn Capital
Management, Phillip Goldstein and Andrew Dakos beneficially own an aggregate
of 690,488 shares of TF or 19.37% of the outstanding shares.Power to dispose
of and vote securities resides either with Mr. Goldstein, Mr. Dakos or with
clients.
c) During the past 60 days the following shares of TF were purchased:
Date: Shares: Price: 05/15/12 8 11.2500 05/16/12 300 11.1000 05/17/12 19,101 11.1445 05/18/12 400 10.9500 05/21/12 2,000 10.8500 05/22/12 4,801 10.7500 05/25/12 24,800 10.6401 05/29/12 24,522 10.8495 05/30/12 15,040 10.6491 05/31/12 6,408 10.6178 06/07/12 13,951 10.5957 06/13/12 13,741 11.0186 07/06/12 51,400 10.4921 |
d) Beneficiaries of managed accounts are entitled to receive any dividends or sales proceeds.
e) NA
ITEM 6. CONTRACTS,ARRANGEMENTS,UNDERSTANDINGS OR RELATIONSHIPS
WITH RESPECT TO SECURITIES OF THE ISSUER.
None.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
None.
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
Dated: 7/16/2012 By: /s/ Phillip Goldstein Name: Phillip Goldstein By: /S/ Andrew Dakos Name: Andrew Dakos |
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