How and when will the proceeds be distributed to the shareholders?
Transaction closing for each sale is expected to be between three and five days after any purchase by the Trade Facilitator and the selling shareholders will be notified of the exact date by the Administrative and Transfer Agent as soon as practicable after each sale. For each sale, after deduction of the commission and fees to the Trade Facilitator and the Administrative and Transfer Agent, the National Association of Securities Dealer’s (“NASD”) transaction fees, if any, and any other expenses payable by the selling shareholder, within one business day following the closing of the sale the proceeds of any sale will be distributed to each eligible shareholder who has sold shares.
Related Questions
- Form 1099-B, Proceeds from Broker and Barter Exchange Transactions will be mailed to shareholders who have sold any of their fund shares during the year. (See the answer to the question: Why did I receive Form 1099-B, and where do I report the information?
- Who has the right to control a subrogated action and how must the proceeds of such an action be distributed as between the insurer and insured?
- How are endowment proceeds distributed?
