Mar 4th 2008, 12:08 LNL L&L Financial Services
by Lindsay Druart
Official Depositors Option Amendmant - Option 6
Option 6 - LNLF L&L Financial Services Liquidation FundThe L&L Financial Services Liquidation Fund will be created to assist in the liquidation of funds on deposit before January 22, 2008. The fund will include several parameters for liquidation such as the following:
8 month projected liquidation - We do not anticipate it to take that long but we would rather under promise and over deliver.
Periodic buyback - 85% of dividends recieved from LNL by treasury shares of LNL above and beyond brokerage dividends will be used to by back shares monthly. In the event that a dividend does not exist, a buyback amount will be announced that month. Shares will be bought back at market as it is understood that some will short sell. We do not want anyone to sell below $1L. The amount of shares bought back will be annouced after the buyback and it will commense on the 31st of every month starting March 31st.
Periodic dividend - 5% of dividends recieved from LNL by treasury shares of LNL above and beyond brokerage dividends will be issued monthly. In the event that a dividend does not exist, there will be no dividend paid.
Shares are 1:1L and are not to exceed $4,000,000, first come, first serve.