Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

Sold most of my shares.... Easier to sell and then buyback

[RagingBull3]

Cenovus Preferreds on the open market than deal with any BS that maybe required to convert Husky Preferreds to Cenovus.     Didn't want to sell, but I have too much invested to have to deal with (or forced into dealing with) any possible BS that maybe required.   

I'll continue to hold a small amount of Preferreds and Commons just to see what if anything is involved and learn something.   I could just sell the commons and buy Cenovus commons and avoid any possible BS that maybe involved in converting, but I'll hold Husky and see what happens.

I didn't expect the Transaction to close so fast.   Also disappointed Preferreds didn't spike up on the news or any other news of any Preferred legal action.

All just my opinion/thinking... could be wrong, maybe conversion is automatic, but I don't think so.

[Husky4000]

That's a bad decision. Everything will be automatic.  

[RagingBull3]

Thanks for clearifying what will happen.   It makes sense. It would be crazy having possible millions of people sending in "Letter of Transmittal" or whatever that is.  That must be for something else or for the Broker. Again, all just my opinion/thinking....   This situation is new to me, so I'm just guessing.

[Husky4000]

So are you getting back in?  You should go heavier in the A Series if you think there will be redemption

[RagingBull3]

If they convert to Cenovus Preferreds, I don't expect them to redeem.  If they remained Husky Preferreds in a subsidary, then I would expect them to redeem....... As I understand, they are being converted to Cenovus Preferreds. I haven't heard of any Preferreds taking legal action, so no word if redemption will happen that way. As Cenovus Preferreds, I expect a slow grind up with

[RagingBull3]

I'll probably wait till Preferreds are Converted and Trading before deciding to get back in.   I assume that will be sometime shortly after JAN 1...... But that's the problem....I don't really know anything for certain. All just my opinion/thinking.

[rad10]

Seamless / painless process, why incur trading costs and a capital gain? These bad boys yield double digits on their cost basis, in a market that is way too frothy. Cheers and Merry Christmas

[RagingBull3]

Trading costs minimal, but YES Capital Gain is going to be a Doozy, and I have no Losses to offset the Gain.   I didn't know what the Process involved and company suddenly announced Jan 1 as expected date of completion.   That was much earlier than I expected.    I then started digging to see what the "process" may involve.  "Letter of

[rad10]

Raging - trading costs go beyond the 4.99 brokerage fee.  Look at the significant spread on the preferred issues.  The wide spreads on Canadian preferred issues can make for great bargains, but also make flipping inadvisable. cheers.  Rad10

[RagingBull3]

Yes, you are correct.  I wanted to sell most of my holdings before Jan 1.... To do this, I sold down.  This cost was Huge..... But at that time, my understanding was that I might be facing a bunch of BS with Converting (Transmittal) which I didn't understand.  I have no clear understanding how the "process" will proceed.... So, I took the Huge "deduction/cost

[PigPorknRad10]

This post has been removed in accordance with Community Policy

[rad10]

Lots of great money made in this name over the last few months - capital appreciation and sky high preferred dividends.  Congrats to the longs that spotted the opportunity and held on tight.   I apologize for losers pumping penny scams needing to bring their vitriol. Cheers. Rad10