The following are the Frequently Asked Questions regarding the share redemption procedure, click on each question to view the answers.
Las siguientes son Preguntas Frecuentes sobre el procedimiento de Recompra de Acciones. Haga clic en cada pregunta para ver las respuestas.
Frequently Asked Questions
► How much are my shares worth? – ¿Cuánto valen mis acciones?
The value of the Trust’s shares is fixed at the nominal value (par value) at the time of issuance. The par value is the original value registered and originated by the rights of each shareholder, so the current value is the same value declared on the certificate of their shares. Consequently, shareholders who decide to proceed with the redemption in the first round (also called “Stage 1”) would obtain the equivalent of the par value of their shares valued in US dollars or equivalent assets.
The percentage amount of each redemption will be made pro rata as liquidity enters the Trust. Pro-rata means that each person receives the same percentage of the value of their shares, that is, the capital is divided in percentage (and not in amounts) to each person according to the shares they have.
La valuación de acciones del Trust está fijada al valor nominal (valor par) al momento de emisión de las mismas. El valor par es el valor original registrado y originado por los derechos de cada accionista, es decir el valor actual es el mismo que está declarado en la caratula de sus certificados, los accionistas que decidan ir adelante con la recompra (redemption) en la etapa o ronda uno obtendrían el equivalente al valor par de sus acciones en capital liquido en un instrumento valuado en dólar americano.
La cantidad porcentual de cada recompra se hará pro rata conforme vaya entrando liquidez al Trust. Pro-rata se refiere a que cada quien recibe el mismo porcentaje del valor de sus acciones, es decir el capital se divide en porcentaje (y no en cantidades) a cada quien según las acciones que tengan.
► How much money will I receive? – ¿Cuánto dinero recibiré?
Each shareholder has a different value of shares based on the origination event that gave rise to their share rights, the percentage will be mathematically identical (in percentage terms) to the rest of the shareholders that opted for a redemption, but the value will change on each case. Payments are always made pro rata in compliance with the best practices, rules, and standards that apply in processes of this nature.
The below is an example of three shareholders holding a different number of shares, although the repurchase percentage is the same, the amount varies depending on the value of each person’s shares.
Cada accionista posee un valor diferente de acciones basado en la operación que dio origen a sus derechos accionarios, el porcentaje será matemáticamente idéntico (porcentualmente) al resto de los accionistas, pero el valor cambiará, los pagos siempre se hacen pro rata en observación de las mejores prácticas, normas y estándares que aplican en procesos de esta naturaleza.
El siguiente es un ejemplo de tres accionistas con diferente cantidad de acciones, aunque el porcentaje de recompra (redemption) es igual la cantidad varía dependiendo del valor de las acciones de cada quien.
| Shareholder 1 | Shareholder 2 | Shareholder 3 | |
| Total Par Value | $10,000.00 USD | $100,000.00 USD | $70,000.00 USD |
| Example of 20% Redemption | $2,000.00 USD | $20,000.00 USD | $14,000.00 USD |
| Remaining Value to Redeem | ($8,000.00) USD | ($80,000.00) USD | ($56,000.00) USD |
► How much interest do my shares produce? – ¿Cuanto interés producen mis acciones?
Shares do not produce interest, they are an asset. If you decide to participate in the redemption in the first stage (Stage 1), your shares would be redeemed at the nominal value or par value at which they are published, that is, the same value they have had since they were assigned. This value already includes the interest that was negotiated at the time with the bank, but they do not nominally produce any additional interest.
Las acciones no producen intereses, son un activo. Si usted decide participar en la recompra (redemption) en la primera etapa (Etapa 1), sus acciones se recomprarían al valor nominal o valor par al que están publicadas, es decir el mismo valor que tienen desde que le fueron asignadas. Este valor ya contiene intereses que fueron negociados en su momento con el banco, pero no producen de manera nominal ningún interés adicional.
► When can I expect the redemption? – ¿Cuándo puedo esperar la recompra?
We are about to distribute a subscription questionnaire to determine the total number of expected redemptions, and with this information, it will be determined if there is sufficient cash available to proceed now or if we should wait for the completion of the ongoing transactions.
In the meantime, down below is a preliminary anonymous questionnaire, which is non-binding and will serve as a reference to know how many people would be interested in remaining as shareholders and how many people want to redeem their shares. This questionnaire will only be available for a few days and is preliminary information that helps us to structure the process correctly. We ask all shareholders to participate and, if applicable, make any suggestions about the procedure that will help us to improve and optimize.
Estamos por distribuir un cuestionario de suscripción oficial para determinar la cantidad total de recompras (redemptions) que se requerirían, y con esta información se determinará si existe en estos momentos una cantidad suficiente de recursos para proceder a la distribución de la ronda uno de subscripciones.
En la parte baja de este FAQ hemos dispuesto un cuestionario anónimo preliminar, el cual es no vinculante y que servirá de referencia para saber cuántas personas estarían interesadas en mantenerse como accionistas y cuántas personas desean redimir sus acciones. Este cuestionario solo estará disponible unos días y es información preliminar que nos ayuda a realizar la estructuración de manera correcta. Le pedimos a todos los accionistas que participen y, en su caso, hagan cualquier tipo de sugerencias sobre el procedimiento que nos ayude a mejorar y optimizar.
► What happens if I decide not to redeem in round 1 – ¿Qué sucede si decido no redimir/vender en la etapa 1?
If you decide to continue as a shareholder of the Trust and choose not to immediately redeem your shares in stage one, you can sell all or part of your shares at any time later in the future after the first buyback round is finalized, provided there is existent liquidity for the buyback. Shareholders in this case would receive a different value for the same amount of shares they have. The value after round one depends on the valuation of the Trust at the time of its redemption. The valuation of a trust’s NAV (net asset value) reporting shares is calculated by subtracting the total liabilities from the total assets of the Trust, taking into account cash flow and other factors. The NAV value will be reported periodically after the completion of stage one.
Si decide continuar como accionista del Trust y decide no redimir (vender) sus acciones en la etapa uno, puede vender todas o parte de sus acciones en cualquier momento en el futuro posterior a la finalización de la ronda uno de recompra, siempre que exista liquidez suficiente para la recompra. Los accionistas en este caso obtendrían un valor diferente por las misma cantidad de acciones que tienen. El valor después de la etapa uno depende de la valuación del Trust al momento de su salida o recompra y no del valor par. La valuación de las acciones de un trust que reporta NAV (valor de activos netos) se calcula restando los pasivos totales de los activos totales del Trust, tomando en cuenta el CashFlow y otros factores. El valor del NAV se reportará de manera recurrente después de la finalización de la etapa uno.
► How are shares valued after round 1? – ¿Como se valúan las acciones posterior a la etapa 1?
To perform the valuation, the Trustee would theoretically use the asset valuation model, which takes into account the NAV, but the final valuation arithmetic would be subject to the Executive Committee’s authorization. It is important to consider other factors such as financial performance, growth prospects, and the exchange rate of asset rights or assets in general denominated in foreign currency. The value of the shares may fluctuate over time due to factors including, but not limited to, changes in assets, liabilities, cash flow, the Trust’s NAV, contract rights, litigation, financial results, market conditions, decisions of the executive committee, the management team and the Trustee, as well as macroeconomic events.
Para realizar la valoración, el Trustee utilizaría teóricamente el modelo de valoración de activos, que tiene en cuenta el NAV, pero la aritmética final de la valoración estaría sujeta a la autorización del Comité Ejecutivo. Es importante considerar otros factores como el rendimiento financiero, las perspectivas de crecimiento y el tipo de cambio de los derechos de los activos o de los activos en general denominados en moneda extranjera. El valor de las acciones fluctuará con el tiempo debido a factores que incluyen, sin limitar entre otros, cambios en los activos, pasivos, flujo de efectivo, el NAV del Fideicomiso, derechos contractuales, acciones legales, resultados financieros, condiciones del mercado, decisiones del comité ejecutivo, el equipo directivo y el Trustee, así como eventos macroeconómicos.
► How does the redemption process affect the shares that were not bought back in stage 1? – ¿Como afecta el proceso de recompra a las acciones que no se recompraron en la etapa 1?
The process of share redemption affects the value of the remaining shares in several ways. When a company or trust buys back its own shares, it reduces the number of shares in circulation, which can increase the value of the remaining shares. This is because, with fewer shares in circulation, the ownership of the company’s assets and earnings is distributed among a smaller number of shares, which typically results in an increased value per share. Additionally, share redemptions and buybacks can also be perceived as a positive signal by the secondary market, which can increase the demand for the shares and, therefore, their price.
Share buybacks also increase earnings per share (EPS). As the buyback reduces the number of shares in circulation, it increases the earnings per share. A higher EPS should raise the market value of the remaining shares.
The value of the shares will fluctuate over time due to factors including, but not limited to, changes in assets, liabilities, cash flow, the Trust’s NAV, contract rights, financial results, market conditions, decisions of the executive committee, the management team and the Trustee, as well as macroeconomic events[1][2].
La recompra de acciones afectará el valor de las acciones restantes de varias maneras. Cuando una empresa o trust recompra sus propias acciones, reduce el número de acciones en circulación, lo que puede aumentar el valor de las acciones restantes. Esto se debe a que, al haber menos acciones en circulación, la participación en los activos y ganancias de la empresa se distribuye entre un menor número de acciones, lo que normalmente resulta en el aumento del valor por acción. Además, la recompra de acciones también puede ser percibida como una señal positiva por parte del mercado secundario, lo que puede aumentar la demanda de las acciones y, por lo tanto, su precio.
La recompra también aumenta las ganancias por acción, debido a que una recompra de acciones reduce el número de acciones en circulación, se aumenta las ganancias por acción o el EPS (Earnigs Per Share). Un EPS más alto debería elevar el valor de mercado de las acciones restantes.
Details
► How much variation in value would my shares have? ¿Cuánta variación de valor tendrían mis acciones?
The price could change significantly but we can’t predict its value. During the stage one of share redemptions, all capital is mainly concentrated for this process (redemptions). After completing stage one, there would be fewer shares available in circulation.
To achieve this, the Trust must generate sufficient cash flow from current activities. At the end of the buyback, this cash flow becomes available capital for investment, which, in combination with the conversion and subscription of the real estate assets rights that the Trust holds, would directly affect the financial valuation of the trust and the NAV value. The function of the Trust management is to take subsequent actions to continue to produce a substantial increase in its value.
It is important to consider that there prices are impossible to predict and are various that risks both in the implementation of any operational plan and those related to third parties. Risks must be actively known by each shareholder before making a decision regarding the redemption or repurchase of their shares. Visit the risk disclosure section for more information.
El precio podría cambiar significativamente y es difícil predecir un valor, debido a que durante la etapa uno de recompra de acciones, todo el capital se concentra para la recompra. Después de finalizar la etapa uno, quedarían menos acciones disponibles en circulación.
Para lograr esto, el Trust debe generar suficiente flujo de efectivo con las actividades actuales. Al terminar la recompra, este flujo de efectivo se convierte en capital disponible para inversión, lo cual, en combinación con la conversión y subscripción de los derechos de los activos inmobiliarios que el Trust posee, se afectaría directamente la valoración financiera del trust y el valor del NAV. La función de la administración del Trust será realizar acciones posteriores para producir un incremento sustancial en su valor.
Es importante considerar que siempre existen diversos riesgos tanto en la implementación de cualquier plan de operación como en aquellos relacionados con terceros. Los riesgos deben ser conocidos de manera activa por cada accionista antes de tomar una decisión con respecto a la redención o recompra de sus acciones. Visite la sección de riesgos para obtener más información.
► What activities will the Trust be carrying out in 2024? – Que actividades el Trust estará realizando en 2024.
Structural changes have been made to the Trust’s real estate unit, and new business units are being added. A memorandum of understanding has been signed with the bank for the implementation and operation of a FinTech financial unit that will be supervised by the Trust and the committee, which will carry out digital financial operation placement activities. The income obtained from these activities will be transferred to the Trust, and even with the optimizations we have done, we estimate that this unit will be the main source of income next year.
In this context, the bank has indicated that it does not wish to redeem its shares, as it believes it can increase their value by accelerating the buyback process much sooner. The bank has formally initiated the request for a license to carry out these activities, which will begin operations in the first quarter of 2024. All the details are being included in the following report, which will be published shortly.
Se hicieron cambios estructurales a la unidad inmobiliaria del Trust y se están agregando unidades de negocio nuevas. Se suscribió un memorándum de entendimiento con el banco para la implementación y operación de un área financiera de FinTech que será supervisada por el Trust y el comité, la cual realizará actividades de colocación de operaciones financieras digitales, el capital que se obtenga como resultado de estas actividades será transferida al Trust y aun con las optimizaciones que hemos hecho al área de real estate, estimamos que esta unidad sea la principal fuente de ingresos el próximo año.
En este contexto el banco ha indicado que no desea vender sus acciones, ya que considera que puede incrementar su valor con estas acciones acelerando el proceso de recompra en un tiempo mucho menor. El banco formalmente inició la solicitud para la obtención de una licencia que nos permita realizar estas actividades la cual estará iniciando operaciones este primer trimestre del 2024, todos los detalles se han incluido en el siguiente reporte que será publicado en breve.
► What activities are being carried out with the real estate rights held by the Trust? – ¿Qué actividades se están realizando con los derechos inmobiliarios que tiene el Trust?
Currently, with the support of some shareholders, various real estate regularization tasks are being carried out with the rights held by the Trust. This activity involves ensuring that the lands comply with all legal and administrative requirements of the municipalities where they are physically located, as well as the transfer of the registry property to the Trust or to a local SPV (Special Purpose Vehicle) for its management in compliance with the Foreign Investment Law and related regulations. This will allow those who wish to sell their shares in exchange for land to do so.
Actualmente, se están llevando a cabo con el apoyo de algunos accionistas, distintas tareas de regularización inmobiliaria con los derechos que posee el Trust. Esta actividad implica asegurar que los terrenos cumplan con todos los requisitos legales y administrativos de los municipios donde se encuentran físicamente, así como la transferencia de la propiedad registral al fideicomiso o en su caso al vehículo especial local SPV (Special Purpose Vehicle) para su gestión en observación de la Ley de inversión extranjera y los reglamentos relacionados. Esto permitirá que quienes deseen vender sus acciones a cambio de terrenos puedan hacerlo.
► What use can be given to the capital that the Trust has in addition to redemptions? ¿Qué uso se le puede dar al capital que el trust tiene además de las recompras?
The Trust, under the authorization and supervision of the Executive Committee, is empowered to use the resources in sales and marketing activities or those ancillary activities that help us achieve the objectives of the trust more quickly. These processes will be carried out with full transparency, providing public and verifiable information. This may include, without limitation, promoting the land available for sale and conducting marketing campaigns that contribute to the closing of operations.
It is important to note that the activities of a Trust may vary depending on different strategies evaluated between the Executive Committee and the Trustee. It is recommended to consult the shareholder site or, if necessary, directly with the Trustee to obtain detailed information about their activities and operations.
El Trust bajo la autorización y supervisión del Comité Ejecutivo está facultado para utilizar los recursos necesarios para actividades de venta y mercadotecnia u aquellas accesorias que nos ayuden a finalizar los objetivos del fideicomiso de manera más rápida. Estos procesos se harán con plena transparencia, proporcionando información pública y verificable. Esto puede incluir sin limitar la promoción de los terrenos disponibles para la venta y la realización de campañas de marketing que coadyuven al cierre de operaciones.
Es importante tener en cuenta que las actividades de un Trust pueden variar según distintas estrategias que se evalúen entre el Comité Ejecutivo y el Trustee. Es recomendable consultar el sitio de accionistas o en su caso directamente con el Trustee para obtener información detallada sobre sus actividades y operaciones.
► How can I earn money with the Trust? – ¿Como puedo ganar dinero con el Trust?
We have several plots where the Trust acts as a representative or broker but does not own the property. The Trust is looking for buyers for these plots, and people who help find a buyer (sellers) will receive 20% of the total commissions the Trust earns.
If you want to help the Trust’s activities but do not have clients directly for these plots and know someone, an external entity, or a company that could sell or help find buyers for these plots, then you would be acting as an originator or IB (Introducing Broker) and would be entitled to receive a commission as an originator for the sale of the plot or plots (including any investment made in the same land). The commission you would receive would be 5% only for presenting or connecting the parties (the ones who would close the deal). These people would receive 20% of the commissions, and you would receive the 5%. In this case, the Trust would pay 25% of the total commissions to both parties.
Tenemos varios terrenos en los que el Trust actúa como representante o broker, pero sin ser el propietario. El trust está buscando compradores para estos terrenos, y las personas que coadyuven a conseguir a un comprador (vendedores) recibirán el 20% del total de las comisiones que el Trust gane.
Si usted quiere ayudar a las actividades del Trust pero no tiene clientes directamente para estos terrenos, y conoce a alguna tercera persona, entidad externa o empresa que pueda hacer la venta o conseguir estos clientes, entonces usted estaría actuando como originador o IB (Introducing Broker) y recibirá por lo tanto una comisión como originador por la venta del terreno o los terrenos puestos a la venta (Incluyendo cualquier inversión que se haga en el mismo). La comisión que usted recibiría es del 5% solamente por presentar o conectar a las partes (las personas que harían el cierre). Estas personas obtendrían el 20% de comisiones y usted el 5%. En este caso, en total el Trust pagará el 25% de las comisiones a ambas partes.
► How do I subscribe to participate in the profits of these operations? – ¿Como me suscribo para participar en las ganancias de estas operaciones?
To participate in the profits of these operations, you must send an email to the Trustee at info.shareholders@universum.icu to request the specific commission contract for the activity you would be performing (Introducing Broker or Seller).
If you need a third party to subscribe to the contract, you need to send the following information:
For individuals:
- Passport or official identification from the country of residence
- Proof of address for services not more than 3 months old
- Tax identification number
For legal entities:
- Articles of incorporation or constitutive deed
- Powers of the legal representatives
- Passport or official identification from the country of residence of the legal representatives
- Proof of address of the company
- Tax identification number or registration of the company
To access the portfolio of lands available for sale, you can access it directly at universum.icu/portfolio
Debe enviar un correo a info.shareholders@universum.icu para solicitar el contrato de comisiones específico a la actividad que usted estaría haciendo (Introducing Broker o Vendedor), si usted necesita que un tercero suscriba el contrato necesita enviar la siguiente información:
Para personas Físicas:
- Pasaporte o Identificación oficial del país de residencia.
- Comprobante de domicilio de servicios no mayor a 3 meses de antigüedad.
- Número de identificación fiscal.
Para personas morales:
- Acta de incorporación o acta constitutiva.
- Poderes de los representantes legales.
- Pasaporte o Identificación oficial del país de residencia de los representantes legales.
- Comprobante de domicilio de la empresa.
- Número o registro de identificación fiscal de la empresa.
► How much does the Trust earn for real estate brokerage operations? – ¿Cuánto gana el Trust por operación de intermediación inmobiliaria?
The Trust’s commission varies, but typically ranges from 6% to 9% of the total amount of the land sale and any investment that occurs on the land by the entity under contract with the Trust. This commission is negotiated according to the operation and the parties involved. Since these are very large operations (usually over $50,000,000.00 USD), the commissions are very high.
If you have a buyer, you will receive 20% of that commission, which is very attractive. If you don’t have a client but know a person or external entity that can make the sales, then that person would earn 20% of the 6 to 9% commission, and you would receive 5% of the commissions only for making the introduction.
La comisión del Trust varía, pero típicamente es de entre el 6% y el 9% del monto total de venta del terreno y de cualquier inversión que ocurra en el terreno por la entidad bajo contrato con el Trust. Esta comisión es negociada según la operación y las partes involucradas. Dado que se trata de operaciones muy grandes (normalmente superiores a 50,000,000.00 USD), las comisiones son muy elevadas.
Si usted tiene un comprador, recibirá el 20% de esa comisión, lo cual resulta muy atractivo. Si usted no tiene un cliente pero conoce a una persona o entidad externa que pueda realizar las ventas, entonces esa persona ganaría el 20% de la comisión del 6 al 9%, y usted recibiría el 5% de comisiones solamente por haber realizado la introducción.
► What are the characteristics of the land plots? – Que características tienen los terrenos?
The land plots and projects that the Trust is intermediating are located in highly desirable locations in Asia, Europe, the Caribbean, and Latin America. Most of them are in Latin America and are generally known as “Prime” properties, meaning they are highly attractive to investment funds or entities. Most of the lands have a value of over $50,000,000.00 USD in conjunction with the project being developed on the land.
Los terrenos que el Trust está intermediando se encuentran localizados en ubicaciones altamente deseadas en Asia, Europa, el Caribe y América Latina. La mayor parte de ellos están en Latinoamérica y son, en general, predios comúnmente conocidos como “Prime”, es decir, de gran atractivo para fondos o entidades de inversión. En su mayoría, los terrenos tienen un valor superior a los 50,000,000.00 USD en conjunto con el proyecto que se desarrolla sobre el terreno.
► How do I request access to the property portfolio? – ¿Como accedo al portafolio de terrenos disponibles para la venta?
To access the property portfolio, you can visit the publicly accessible portfolio section that will be publish in January, as soon as we receive authorization from all or most landowners.
However, if you are subscribed with a commission agreement with the Trust, you will be able to view all properties we have under contract.
Para acceder al portafolio de propiedades inmobiliarias, puede visitar el portafolio públicamente accesible que en enero, ya que actualmente estamos obteniendo la autorización de todos o la mayoría de los propietarios.
Sin embargo, si usted tiene suscrito un acuerdo de comisión, podrá ver todas las propiedades que el Trust esta gestionando bajo contrato.
► How is the NAV calculated? – ¿Como se calcula el NAV?
The calculation of the NAV will be carried out at the end of stage 1 and depends on the financial performance of the Trust, growth prospects, and the market environment. The valuation of the remaining shares after the redemption will be impacted by the discounted cash flow model, comparative analysis of similar companies, and the approach of accounting value. The value of the shares may fluctuate over time due to factors including, but not limited to, the financial results of the company, changes in the economic environment, committee or Trustee decisions, real estate sector news, and macroeconomic events among others.
El cálculo del NAV se realizará al terminar la etapa 1 y depende del desempeño financiero del Trust, perspectivas de crecimiento y el entorno del mercado. La valuación de las acciones posterior a la recompra estará impactada por el modelo de descuento de flujos de efectivo, el análisis comparativo de empresas similares y el enfoque de valor contable. El valor de las acciones puede fluctuar en el tiempo debido a factores incluyendo sin limitar; los resultados financieros de la empresa, cambios en el entorno económico, decisiones del comité o del Trustee, noticias del sector inmobiliario y eventos macroeconómicos entre otros.
► Who is not elegible to participate in the redemption? – ¿Quienes no podrán participan en la recompra?
Those who provided false or inexact information, omitted declaring information to the Trustee in the context of contracts or obtaining rights derived from these contracts (including but not limited to those who received shares from third parties and/or act on behalf of an intermediary person), or those who are found to be in violation of sections 2.5, 2.9, 3.1, and 3.2 of the contract from which their rights are derived, as well as those who in the past presented or were involved in any direct or indirect legal action against the entities described in these contracts (including but not limited to violations of sections 2.6(b) & 2.6(c)), are not eligible for the buyback of shares and are in violation of the contract from which their shares are derived. Therefore, they cannot participate in the aforementioned process.
Aquellos accionistas que declararon información falsa o inexacta, que omitieron declarar información al Trustee en el contexto de los contratos o de la obtención de los derechos derivados de dichos contratos, incluyendo sin limitar a aquellos que obtuvieron acciones de terceros y/o actúan por interpósita persona, o que se encuentren en los supuestos de violación de las secciones 2.5, 2.9, 3.1 y 3.2 del contrato del cual derivan esos derechos, así como aquellos que en el pasado presentaron, o estuvieron involucrados de manera directa o indirecta en alguna acción, queja, demanda o acción mediática de manera directa o indirecta en contra de las entidades descritas en dichos contratos incluyendo sin limitar las violaciones de las secciones 2.6 (b) & 2.6 (c), no son elegibles a la recompra de acciones y están en violación del contrato del cual derivan sus acciones, no podrán por tanto participar en dicho proceso.
Citations for further study:
[1] Paper by S&P Dow Jones https://www.spglobal.com/spdji/en/documents/research/research-sp-examining-share-redemptions-and-the-sp-buyback-indices.pdf
[2] https://www.investopedia.com/terms/s/shareredemption.asp
[3] https://www.investopedia.com/terms/s/sharerepurchase.asp
[4] https://www.investopedia.com/articles/02/041702.asp
[5] https://uwm.edu/business/farrell-research/
[6] Harvard Business Review advantages of stock buybacks over dividends https://hbr.org/2017/09/the-case-for-stock-buybacks
[7] https://www.bankrate.com/investing/stock-buybacks/
Referencias para estudio de la información en español:
[1] https://www.ig.com/es/glosario-trading/definicion-de-recompra-de-acciones
[2] https://www.santander.com/es/stories/recompra-acciones
[3] https://fundspeople.com/es/glosario/recompra-de-acciones-que-es-y-por-que-hay-dudas-sobre-si-es-una-via-de-remuneracion-al-accionista/
[4] https://www.imef.org.mx/publicaciones/boletinestecnicosorig/BOL_49_04_CTN_TE.PDF
[5] https://www.bbva.com/es/que-es-la-recompra-de-acciones/
* References in Spanish or/and in English are not the same
Preliminary Anonymous Vote
The non-binding preliminary questionnaire for redemption is now closed.
el cuestionario preliminar no vinculante para la recompra o redención ya fue cerrado.
This was a preliminary and anonymous questionnaire that was non-binding and will serve as a reference to determine how many people are interested in remaining as shareholders and how many want to redeem their shares. This questionnaire will only be available for a short period of time and provides preliminary information that will help us structure the process correctly. We encourage shareholders to voice different opinions via email and/or make suggestions about the procedure that will help us improve and optimize it.
Este fue un cuestionario preliminar y anónimo que no era vinculante y se utilizará como referencia para determinar cuántas personas están interesadas en mantenerse como accionistas y cuántas quieren canjear sus acciones. Este cuestionario solo estará disponible durante un corto período de tiempo y proporciona información preliminar que nos ayudará a estructurar el proceso correctamente. Recomendamos a los accionistas expresar opiniones diferentes y/o hacer sugerencias sobre el procedimiento usando el correo electronico del Trustee que ayudará a mejorar y optimizar.
| M | T | W | T | F | S | S |
|---|---|---|---|---|---|---|
| 1 | 2 | |||||
| 3 | 4 | 5 | 6 | 7 | 8 | 9 |
| 10 | 11 | 12 | 13 | 14 | 15 | 16 |
| 17 | 18 | 19 | 20 | 21 | 22 | 23 |
| 24 | 25 | 26 | 27 | 28 | 29 | 30 |
| 31 | ||||||
This FAQ and its appendices are not intended for general circulation other than as required by law, nor is it to be reproduced or used for any purpose other than that outlined above without the written permission in each specific instance from the Trustee. In preparing this FAQ we have relied upon information provided to us. We have not independently verified or audited that information. Whilst all care and attention has been taken in compiling this FAQ, we do not accept any liability whatsoever to any party as a result of the circulation, publication, reproduction or use of this FAQ. We reserve the right to review and, if we consider necessary, revise this FAQ in respect of any information existing at the date of this FAQ which becomes known to us after that date. This FAQ could have been updated amended or modified after it was first published. If you have any questions in regards to this, please request the latest version from the Trustee directly. CCS Liquidation Trust Inc. hereinafter jointly called (“The Trust”, “The SPV” and “CCS Liquidation Trust”) a Special Purpose Vehicle currently registered and regulated in the Commonwealth of Dominica, in the Caribbean West Indies under notarial testimony, pursuant applicable regulation under the Commonwealth of Dominica in the West Indies and pursuant the Trust Deed signed the 30th day of May 2018.
The material on this FAQ and in general related to the Trust may contain forward looking statements which are not based on historical facts but are based on current expectations about future events and results. Words such as “will”, “are”, “expect”, “anticipate”, “believe”, “expect”, “project”, “forecast”, “estimate”, “outlook”, “likely”, “intend”, “should”, “could”, “may”, “target”, “plan” and other similar expressions typically denote forward looking statements. Such forward looking statements are based on views held only at the date of publication of the material and are not guarantees of future performance or events. These forward looking statements are subject to inherent risks, uncertainties and other factors outside the control of the Trust. Accordingly, actual results may differ materially from those expressed or implied in such statements. The Trust, does not undertake to update any forward looking statements to reflect events or new information following the publication of forward looking statements on the reports, any emails exchange with the Trustee or any other staff member, or the Trust websites. The Trust gives no representation or warranty (express or implied) as to the completeness or reliability of any forward looking statements. Such forward looking statements should not be considered as advice or a recommendation in relation to holding, purchasing or selling shares and does not take into account your particular investment objectives, financial situation or needs, and you should not place undue reliance on these forward looking statements. Hypothetical situations, projections, illustrations, documents, contracts, emails and examples on any material issued or distributed by the Trust are provided for illustrative purposes only and you should not rely on such hypothetical situations, illustrations and or examples when making investment decisions. Due to each shareholder individual circumstances, returns may differ from those provided in any hypothetical situation, illustrations and examples used. Past performance information on analog trusts or similar vehicles or structures in the Commonwealth of Dominica or abroad are not a reliable indicator of future performance. Any reference to past performance is intended to be for general illustrative purposes only and should not be relied upon. Holding shares or Investing in a Special Purpose Vehicles (SPVs) that intermediates land and/or acts as an introducing broker involves multiple risks without limitation, liquidity and funding risks, equity risk, lower access to capital at the vehicle level, mark-to-market accounting rules, lack of transparency on the information provided by land owners or projects and regulatory changes that could cause serious problems for the Trust, some of the investments may be cataloged as high risk or have little oversight, leading to shareholders taking on more risk than they may be aware of or comfortable with. The information on this FAQ and in general within the Trust website is intended to be general information only and is not financial or legal advice. The information has been prepared and is being shown without taking into account any specific shareholder´s objectives, financial situation or needs. Before acting on any such information, you should consider the appropriateness of the information provided and the nature of the relevant decision to be made having regard to your objectives, financial situation and needs. In particular, you should seek independent financial advice with a qualified specialist and read the relevant disclaimers before making a decision about whether to hold or subject your shares for redemption or repurchase. Specific prospectuses and relevant information may be available on the Trust DataRoom website for which under an authorized procedure voted by the Executive Committee, the execution of an NDA is needed. We advise all shareholders to request access to the DataRoom. Shareholders are advised not to take any decision in regards to the Trust or it shares without carefully reviewing, studying or evaluating and performing substantial due diligence in the information contained in the DataRoom. The Trust do not provides any guarantee on the completion of the Trust deed objectives or otherwise and cannot provide assurance in respect to of any obligations with suppliers, counterparties, shareholders of any kind, contractual or otherwise. Purchasing, holding or maintaining any class of shares in the Trust is subject to investment risk, including delays in redemption/repayment, loss of income or principal invested and bankruptcy. Accordingly, the performance, the redemption, repurchase or repayment of accessories or any particular share value increase on your shares is not guaranteed by the Trust. Holding shares in the Trust is highly speculative and involves a high degree of risk, which could result in the loss of part or all of an investor’s capital. Neither “The Trust” nor any of its related bodies, nor the Trustee or the Appointor or any other party guarantees the completion of any ongoing deals, transactions, task, projects, operations, objectives or agreements with any third party or within the Trust, via the Appointor or any other party. The Trustee nor its team are real estate specialists, they have no significant entrepreneurship experience including experience within the real estate sector nor they are experts in managing similar vehicles or any of these type of transactions. The repurchase or redemption of shares depends on these transactions being finalized with its corresponding benefit being paid to the trust, any other value or proposition stated is not guaranteed, including any looking forward performance of the Trust or on its shares. All shares may be traded in the secondary market under specific limitation set forth by the Trustee or the Executive Committee making them illiquid and are generally subject to risks, including delays in redemptions, repayment and loss of capital and income. Risks including without limitation, reputational risks, and any actions made by a shareholder or third party directly or indirectly against the Trust, the Appointor, the Trustee, the Executive Committee and any counterparty or person related, including service providers or suppliers is to be carefully understood without taking any decision.
Quality control poll – Encuesta de calidad