I have been unable to get a definitive answer through Schwab, but my presumption at this point is that the ARCM.ST shares which underlie AMAVF are frozen just like the regular ones are, but there is no need for them to trade at all unless the total number of AMAVF shares changes, which there is no reason for them to do. Thus, the underlying shares should be redeemed at the same price as everything else and the only real question mark for AMAVF shares is whether the price for the ARCM.ST shares will flow through. Since anything else would seem like fraud, I am pretty sure that they will.
As for why someone is willing to sell under $30, I can only guess that they are impatient, needy, and/or not confident of price flowing through.
