Ares Dynamic Credit Allocation Fund, Inc. 4
4 · Ares Dynamic Credit Allocation Fund, Inc. · Filed Sep 2, 2015
Insider Transaction Report
Form 4
Margolies Gregory A
Other
Transactions
- Other
Common Stock
2015-08-31+6,067→ 21,408 total
Footnotes (2)
- [F1]Effective as of August 31, 2015, Ares Multi-Strategy Credit Fund, Inc. (the "Target Fund") was reorganized into Ares Dynamic Credit Allocation Fund, Inc. (the "Acquiring Fund," and such reorganization, the "Reorganization"). In the Reorganization, common stockholders of the Target Fund received shares of common stock of the Acquiring Fund in an amount equal to the aggregate net asset value of shares of the Target Fund's common stock as determined at the close of business on August 28, 2015, less the costs of the Reorganization (although cash was distributed for any fractional shares). As of August 28, 2015, the Target Fund reported a net asset value per share of $21.020937 and the Acquiring Fund reported a net asset value per share of $17.322984. The conversion ratio for the Target Fund's common shares was 1.21347090. In the Reorganization, Mr. Margolies received 6067 shares of common stock of the Acquiring Fund in exchange for his 5,000 shares of common stock of the Target Fund.
- [F2]Gregory A. Margolies and Yoshiko H. Margolies are joint tenants of the brokerage account. Each has an equal right to the account's assets and survivorship rights in the event of the death of the another account holder.