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Alpine Global Premier Propertie Message Board

  • SMNeedleman SMNeedleman May 24, 2012 4:54 PM Flag

    Tender Offer

    Tender offer is for 95% of the NAV per share on the close of business Monday June 18. Offer experies on June 15 unless they decide to extend the offer.

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    • blair.wagner Jun 2, 2012 4:33 PM Flag

      You will have to call them(it getting late)
      and tell me of your wishes.

      For future ref: switch to TDameritrade.

    • I haven't received anything from E-Trade about this yet, any idea how you accept?

    • The offer prospectus at item 8 says they will use "cash on hand and proceeds from the sale of portfolio securities..." to pay those who tender.

      It may be overly simplistic, but it seems to me if the fund is purchasing shares at 95% of NAV, when in the open market it could buy for less (current discount is about 9%), it can only hurt the overall value of the fund. It also seems to me that the open market discount should start narrowing toward the 5% as the tender end date draws near, otherwise there would be a clear arbitrage opportunity.

      I intend to hold and hope for the best.

    • blair.wagner May 29, 2012 11:41 AM Flag

      The one question I failed to ask and perhaps
      someone out there knows.

      How are they going to pay for the redeem
      shares? Will they be selling stocks to raise the money,which of course would
      lower the NAV.

      All knowledgeable replies welcomed.


    • blair.wagner May 24, 2012 8:51 PM Flag

      If I understand the offer they are offering
      95% of NAV which today is 6.65 so you would
      get 6.31 This is assuming a static situation
      until june 18.

      But they are paying .05/shr as a dividend
      so we are looking at getting approx. 6moths
      of dividend early and then not own the stock.
      To me it is not worth doing that I will hold
      on to the stock and collect my monthly 50$
      on my 1000 shares.
      That is my take on what I currently know
      for what it is worth. Not sure why they
      are doing this but it looks to me the
      people who will benefit most are those
      that keep their shares.

      Your take on this is welcomed.


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