Redemption
What is an Share repurchase program?
Share repurchase program is a request by investors to have the investment company purchase back their shares
What is a proxy vote?
A proxy statement is a document containing the information the Securities and Exchange Commission (SEC) requires companies to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual or special stockholder meeting
In order to transfer a caller back into CIM main service line you must
Warm transfer to 866-907-2653
What is a processing freeze?
A processing freeze is where accounts are frozen from updates such as transfer, maintenance and redeeming prior to an event taking place
Caller wants to participate in DRP for INAV ?
At this time INAV’s distribution reinvestment plan (“DRIP”) and share redemption plan (“SRP”) have been suspended during the pendency of the merger
When was the share repurchase for CIM INAV suspended?
September 30 2021
Will I receive my INAV December distribution?
Assuming the INAV/CMFT merger transaction is approved and executed prior to the end of December, INAV shareholders will become CMFT shareholders by the December 31st Record Date, and therefore would be entitled to receive the CMFT distribution for that month. There would be no INAV distribution paid for December since the fund will be closed by the December 31st Record Date. This is only if the merger is approved and executed by end of December.
Prior to redeeming due to death an individual account has to transfer to ________?
The account would need to be reregistered into the name of the Estate or beneficiaries singed by the executor of the account. Once in the name of the beneficiary or Estate the account can be redeemed. To reregister they must have a copy of the death certificate, the letters of testamentary (showing who the executor is) and an original application for transfer.
What is a public market listing?
Publicly-listed companies are companies whose shares are available for trading in public markets
What is a secondary market?
A secondary market is a market where investors purchase securities or assets from other investors, rather than from issuing companies themselves. This is often a discounted agreement. below value of the market price for the shares
What fund can still continue to process while the freeze is on?
CMFT 3772 Autoredeems
Why did the board of directors recommend the merger between CIM INAV and CMFT?
to form a larger more diversified company focused on long term value creation for stockholders
Can we accept a faxed copy of the transfer form ?
No but we will accept copy of a redemption form
Does CMFT have a death put ?
We do not have a “Death Put;” it is a general redemption upon death and as this is a redemption program so it can be suspended at any time.
This is not an offer from the Company, and Comrit is not affiliated in any way with the Company, its sponsor or CIM Group. The Company’s Board of Directors (the “Board”) has carefully evaluated the terms of the Offer and has unanimously determined that the Offer is not in the best interests of the Company’s shareholders
What does to mean by prorate?
The number of request for an offer to repurchase shares was oversubscribed or exceeded the funds available for that offer period
What is a yield and how is it given back to an investor?
Yield is the income returned on an investment, such as the interest received from holding a security. Investor receive a dividend in cash or stock (reinvestment)
When can small estate be used?
Small estate administration is a simplified court procedure that is an alternative to the longer probate process. It is available when the person who dies did not own that much in assets. There is often a limit to the value of the property, such as $25,000 or $100,000
CIM INAV will be merging with ?
CMFT
Caller is upset about redemptions for CMFT?
What was the pro rata amount for the Q3 srp for CIM INAV?
There was no Q3 srp for CIM INAV but CMFT had 1% pro rata
What is the path of liquidity after the merger occurs?
it will position CC CMFT for a public market listing in year 2022
Can a trust account account redeem because a trustee passes away?
No death redemptions available upon the death of a trustee, only the grantor of the trust. Account would only be able to be redeemed according to general redemption policy. The grantor trustee or original trust owner (Tax liable party) must pass away to redeem due to death on a trust, trust must be reregistered to successor trustee.
What is the Redemption cost basis default ?
First in First Out
What do you say when a caller says they were misinformed about liquidity?