of the reverse split, a shareholder of MWN could potentially hold a fractional share. However, fractional shares cannot trade on NYSE Arca. Thus, MWN will redeem for cash a shareholder’s fractional shares at MWN’s split-adjusted NAV as of June 24, 2009. Such redemption’s could cause a shareholder to realize a gain or loss in connection with the redemption of the shareholder’s fractional share. Otherwise, the reverse split will not result in a taxable transaction for holders of MWN shares. No transaction fee will be imposed on shareholders for such redemption.
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