RE:RetractionI didn't submit any shares but I calculated a Closing Nov 29th Nav after Dist of $ approx $18.25. If you submitted a Unit ( 1 Class A & 1 Preferred) you will receive between $18.25 and $18.0675 depending on any related commissions and other costs. Closing market prices were Class A at $7.52 & Preferred at $10.55 or $18.07 per unit. You will also receive ( $.11335 & $.07917) $.19252 per unit dividend.
if only a Class A was sumitted, I believe ($18.25 x .96) , you will receive between $17.52 and $17.3375 less the cost to the Company of the purchase of a Preferred Share in the market for cancellation (Est at $10.55) leaving between $6 97 and $6.7875, compared to a Oct 31st closing price of $ 6.77. You will also receive $.11335 per Class A dividend.
As per page 7 of the Prospectus unless you concurrently retract a Preferred Share and a Class A Share on the Retraction Date in the month of October, then a retraction of just a Class A Share, I believe is considered a Regular Monthly Retraction. If I am correct I believe the increase in the Preferred Share price in November could be Company's purchase of Preferred Shares in the market for cancellation to match when only the Class A Shares were submitted.
Special Annual Concurrent Retractions Commencing in October 2005, shareholders who concurrently retract a Preferred Share and a Class A Share on the Retraction Date in the month of October in each year will be entitled to receive an amount equal to the Net Asset Value per Unit on that date, less any related commissions and other costs (to a maximum of 1% of the Net Asset Value per Unit) related to liquidating the Portfolio to pay such redemption amount. Payment for any shares so retracted will be made within 15 days of the October Retraction Date.
Regular Monthly Retractions Holders retracting a Class A Share will be entitled to receive an amount per Class A Share equal to 96% of the Net Asset Value per Unit determined as of the Retraction Date less the cost to the Company of the purchase of a Preferred Share in the market for cancellation and less any related commissions and other costs (to a maximum of 1% of the Net Asset Value per Unit). Payment for any shares so retracted will be made within 15 days of the Retraction Date.