About 34% of the shares were offered for redemption through the tender offer. Only 12% of the 34% we accepted and actually redeemed. The details are below.
As of Friday, March 15, 2013, 40,048,136.09 Fund shares were outstanding. Approximately 13,848,020 shares were validly tendered and not withdrawn prior to the expiration of the Fund's repurchase offer. The repurchase amount of 5% of Fund shares represents approximately 2,002,407 shares outstanding. The final pro-ration calculations resulted in 285,027.0195 odd lot shares and 13,562,993 non-odd lot shares validly tendered. Under final pro-ration, 12.6622% of the non-odd lot shares tendered were accepted for payment. The shares accepted for tender will receive cash at a repurchase offer price of $23.4024, which is equal to the Fund's net asset value per share of $23.88 as of March 22, 2013, less a repurchase fee of $0.4776 per share. Cash payment for the repurchased shares will be issued on or before March 28, 2013. All shares tendered and not repurchased by the Fund will be returned to stockholders as promptly as practicable. After the repurchase offer, the Fund will have approximately 38,045,730.07 shares outstanding.