RE: DiscountYes, EDV could repurchase shares, this would likely be termed as Treasury Stock purchase and would be accretive.
But likely problem appears to be how can EDV re-sale this Treasury Stock when the discount is lowered. It would be great if EDV would purchase Treasury Shares when discount exceeds 30% or so, if it could subsequently re-sale these shares when the disount falls below 10%. However believe there are significant regulatory problems in selling Treasury Stock.
One option that appears feasible would be to give existing shareholders the right to receive their semi-annual dividend in either cash OR additional EDV shares. EDV could then re-purchase Treasury Shares with the proceeds of the "foregone" cash dividend by those shareholders selecting the share option. You may want to discuss this strategy with Bill Koutsouras.