>>The rationale for Reeders’ resignation from MNTA’s BoD is presumably that MVM, with many fewer MNTA shares now in its own name, no longer thinks MNTA warrants the kind of close attention that comes with a board seat.
It seems to me if the shares are still held by the limited partners they would have the same interest in knowing about their investments. So I would look for another explanation.
Perhaps, the distribution and the resignation are intended to relieve them of insider status. (I do not have the detailed understanding of attribution rules to know if that can be accomplished. My reaction is "no". But the devil is in the details.)
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