North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It 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 the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price 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 for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.

TSX:FFN - Post by User

North American Financial 15 Split Corp > Chances of ever doing a similar FTN Reverse Split??

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Comment by pjn0987654321on Jul 31, 2022 5:16pm

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Post# 34863350

RE:Chances of ever doing a similar FTN Reverse Split??

My understanding is that they offered to redeem FTN preferred shares and got so many that afterwards, there would have been far more common shares than preferred. They are supposed to be about the same. The consolidation achieved this.

If a large quantity of FFN preferreds are redeemed, Quadravest could consolidate the common.

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