I just received a Corporate Action Notice from my stock broker, saying that the company is offering an Annual Concurrent Retraction Privilege. It gives me three options:
- Cash (consent to resale of units)
- Cash (withhold consent to resale of units)
- Do nothing
In the first two cases, it says the holder is required to submit an equal number of shares.
To be honest, I have no idea what any of this means.
- What is the purpose/benefit of this privilege?
- What are the consequences of these options?
- Why am I required to provide a matching number of shares, when it sounds like a sale?