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clock Created with Sketch. 27/02/21
06:17
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Originally posted by KerrodT:
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I certainly agree that the correspondence from Magellan was terribly confusing and required several reads to actually understand what was involved and what commitments they were asking. MGF Partnership Offer MGF Partnership Offer which is expected to be launched in January 2021.MGF Partnership Offer will enable you to subscribe for up to $1 worth of closed class units for every $4 worth of closed class units you hold in the Magellan Global Fund. Your entitlement under the MGF Partnership Offer will be calculated using either the number of units you held on 8 December 2020, or the number of units you hold on 8 January 2021, whichever is lower.additional benefit one bonus option for every 2 closed class units you hold on this date under the Bonus MGF Option Issue.
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Sorry for in fact confusing the issues. I subsequently went back to the full booklet and followed the illustrations through and agree. I think that the record date for for the bonus options 26 February set 3 days after the Offer closing date of 23 February sent my mind spinning as to what Magellan was trying to achieve. I'm at least relieved you found them confusing too. I suspect it will be even more confusing trying to value the options in due course!
(20min delay)