Financial 15 Split Corp T.FTN

Alternate Symbol(s): FNNCF | T.FTN.P.A

Financial 15 Split Corp. is a mutual fund, which invests in a portfolio consisting of over 15 financial services companies. The Company offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to Preferred Shares are to provide holders of Preferred Shares with cumulative preferential monthly cash dividends in an amount of over 6.75% annually and to pay the holders of the Preferred Shares approximately $10 per Preferred Share on or about the termination date. Its investment objectives with respect to Class A Shares are to provide holders of Class A Shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company over $15 per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying over $10 per Preferred Share. The Company’s investment manager is Quadravest Capital Management Inc.

TSX:FTN - Post by User

Financial 15 Split Corp

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Comment by marcroberton May 12, 2020 1:32pm

372 Views

Post# 31017925

RE:Globe comments

i can't see the nav of the A shares only the combo as of end april, it was 11.90. the close on ftn was 4.83 and the prefs were 9.22, for total of about $14.

I assume the pref nav is 10, meaning the A shares about 1.90 so indeed the a shares were trading at a 150% premium; vs LBS, premium is about 35% (brompton actially publishes the A shares nav! weekly).

I have to say, quadravest'S webiste looks like something my 11 year old put together, or a look from the late 90s. amateurish at best.

i don't own ftn, but i have no idea how this NCIB works. Is this a first for them? Is it just fluff or will they actually buy shares? and with what cash? Did suspending the A shares div mean they have cash now? haven't read prospectus

So little info on their site, dicey and very confusing to me.

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A junior copper-gold stock trading at a bargain of monumental proportions