DOMINION CITRUS INCOME FUND T.DOM.UN

Blair deal?

[iwasgold]

I saw the press release but I don't understand the structure of the deal. It appears that Mr. Blair is taking the company's operating segments private by paying the fund $500,000. The fund is then left with a debt owing to it by Blair's new company of 19 million being paid at 5 percent as of January 1. Is this correct? The fund also has the right to buy the farm produce segment at the end of next year, at a reasonable price. I am not sure why they would do that if it caused harm to its business, or Blair's, so I don't see why this is in the deal.

How much cash will the fund have the day after the deal closes?

WHat happens to the preferred holders? I thought that the preferreds were exchangeable for DCL common, but if there aren't any then are they unable to convert to anything? Is the interest owed to the preferreds going with the fund or with Blair?

Wat happens to the accumulated tax losses?

Does this create a capital loss for the fund it can use for something else?

Is there any point voting since the insiders control more than 50%, or do Blair's votes not get counted since he is the acquirer?

Is it possible that Blair is actually acquiring the shares of the fund at 2 cents each, so that we common holders are SOL? I didn't even know DCL had any common so I am wondering if there is a mis-statement in the release (after seeing one already mentioning the preferreds that had to be corrected). I did not see a crash in the share price so I am pretty sure this scenario is not what is happening.

Any clarification on what is going on would be appreciated. I did see a company organization chart once but could not find it again. It seemed overly convoluted and not at all clear, as I remember.