Company: CAF
Filing Date: 2025-12-05
Form Type: SC TO-C
Source: 0001104659-25-118899
Chunk: 1

Company: Morgan Stanley China A Share Fund, Inc.
Filing Date: 2025-12-05
Form: SC TO-C
Chunk 1
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 percent of the Fund’s outstanding shares at a price equal to 98.5 percent of the Fund’s net asset value per share (“NAV”) (minus the costs and expenses related to the tender offer) as of the pricing date for the tender offer (the “2026 Tender Offer” and together with the Conditional Tender Offer (as defined below), the “Tender Offers” and each, a “Tender Offer”). The 2026 Tender Offer will commence on March 3, 2026 and will terminate on March 31, 2026, unless extended. If the Fund’s shares are trading at a premium to NAV on March 3, 2026, no 2026 Tender Offer will be conducted. Additional terms and conditions of the 2026 Tender Offer will be set forth in its offering materials, which will be distributed to the Fund’s stockholders. If more than 20 percent of the Fund’s outstanding shares are tendered, the Fund will purchase its shares from tendering stockholders on a pro rata basis (odd-lot tenders for stockholders who own fewer than 100 shares are still subject to pro ration), based on the number of tendered shares, at a price equal to 98.5 percent of the Fund’s NAV (minus the costs and expenses related to the 2026 Tender Offer). Change to Performance-Related Conditional Tender Offer Policy. The Fund also announced today that the Board approved a change to the designated measurement period of its performance-related conditional tender offer policy to change the measurement period from five years to three years. The Fund will conduct a tender for up to 25 percent of the Fund’s then-issued and outstanding shares at a price equal to 98.5 percent of the Fund’s NAV (minus the costs and expenses related to the tender offer) (a “Conditional Tender Offer”) only if both (1) the Fund’s total return investment performance measured on a NAV basis is less than the total return investment performance of the Fund’s benchmark index, the MSCI China A Onshore Index, during the three-year period commencing on July 1, 2025 and ending on June 30, 2028 (and for successive three-year periods thereafter commencing on July 1, 2028), and (2) the Fund’s shares are trading at or below NAV at the conclusion of the applicable measurement period, with such Conditional Tender Offer occurring on or before September 30, 2028 (and thereafter on each three-year anniversary of September 30