RE:RE:RE:RE:RE:RE:RE:Is it time to enter?navgod wrote: tinkvid wrote: Anyone know what the % is between pref shares outstanding vs Class A shares outstanding and when they have rollback the Class A . I think they have to rollback the Class A once the differential exceeds a certain percentage?
Don't know about any % requirement but the diff has shrunk from 3.3m to 1.9m since mid aug. Would love to see them buy back some Class A as they now trade at discount but not holding my breath. GLTA
I read the original prospectus in documents under DFN on the Quadravest website. Far right dcoument when it pops up.
First page shows this
"The Preferred Shares and Class A shares (together , "a unit") are offered separately , but will be issued only on the basis that therre will be an equal number of Preferred Shares and Class A shares issued."
Seemed the ATM program ignored this part, and issued millions of Class A shares from the treasury, and resulted in a bigger payout of distributions to common shares ( TOTAL$) than if there had been equal numbers in the 2 classes of shares. This contributed to downfall of DFN financial position and NAV and preferred share holders may have a case for pressuring Quadravest to consolidate these 2 classes. Might be that they are waiting until the termination date of the fund.