anmca -arbitrage opportunity here, page-8

G'day copydog.

In effect come Jan 2003 your holding ANM as you say with the difference being recieving the 12.8 cents back over the next 2 years. What I want to know is if you can sell the same amount of ANM's short at 45ish and still recieve the 12.8 cents back over the next 2 years giving you an instant 15 cents per share profit. I just can't see it.
Lets say I hold 50K ANMCA's and pay the 30 cents in January. Assume ANM are trading at 40 cents around the same time and I sell ANM at that figure. Are you saying that even though i've sold, i'll recieve 12.8 cents return of capital over the next 2 years?

Regards,
xmagx