Just seeking some clarification as to the following paragraph from the Pref A Prospectus:
On or after March 31, 2012 and prior to December 31, 2012, YPG Holdings may, upon not less than 30 days
and not more than 60 days prior written notice, subject, if required, to regulatory approvals, exchange, the
outstanding Series 1 Shares into Units or New Tradable Securities of a publicly-listed entity successor to the
Fund pursuant to a corporate reorganization.
Does this mean that even if the recap is approved that YPG would be effectively legally barred from exchanging the Pref A's into the New Securities as envisioned by them subject to the sought corporate reorganization due to the fact that there would be less than 30 days at this point until December 31st when Pref A holders could exercise their retraction rights? Thoughts?