NEW YORK, Aug. 07, 2025 (GLOBE NEWSWIRE) -- The Board of Directors (the "Board") of Total Return Securities Fund, Inc. (f/k/a The Swiss Helvetia Fund, Inc.) (the "Fund") (NYSE:SWZ) today affirmed its previously announced intention to authorize a self-tender offer to purchase at least 15% of the Fund's outstanding shares at a price of at least 98% of the net asset value per share ("NAV").
In addition, the Fund today announced that the Board is contemplating authorizing a rights offering to stockholders to purchase additional shares of the Fund's common stock (prior to commencing a self-tender offer), for the primary purpose of limiting any increase in the Fund's expense ratio as a result of a reduced asset base after completion of a tender offer. Depending on the number of shares issued pursuant to such a rights offering, the number of shares to be purchased by the Fund in the subsequent self-tender offer is expected to be more than 15% but not more than 25% of the Fund's (post-rights offering) outstanding shares. The Board is mindful of the potential dilution from issuing common stock at a discount to NAV via a rights offering and there can be no assurance that the Board will authorize a rights offering or, if authorized, of the terms of such offering.
Contact: Tom Antonucci at 201-881-7102 or [email protected].
This press release is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any of the Fund's securities in any jurisdiction, nor shall there be any sale, issuance or transfer of its securities in any jurisdiction in contravention of applicable law. No offer of the Fund's securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933.
This press release is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares of the Fund's common stock. No tender offer for the outstanding shares of our common stock has commenced. If any tender offer is commenced, the Fund will file a Tender Offer Statement on Schedule TO with the SEC related to the tender offer. The Tender Offer Statement (including an Offer to Purchase, a related Letter of Transmittal and other tender offer documents) will contain important information, including the terms and conditions of the tender offer, that should be read carefully before any decision is made with respect to the tender offer. Stockholders will be able to obtain these documents free of charge, when they become available, from the SEC's website (www.sec.gov) or the Fund's current website (www.totalreturnsecuritiesfund.com).
