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.

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North American Financial 15 Split Corp > Retraction and Consolidation

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Comment by mousermanon Nov 15, 2024 5:02pm

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Post# 36315788

RE:RE:Retraction and Consolidation

Higherhopes2020 wrote: ii - Commons market share price was significantly below NAV minus $10 on Nov. 1st and will likely be on Nov. 29, thus expect some retraction on FFN.

Is this means they have to offer secondery over night offering for the ffn.pr.a shares to match the ffn equity shares retraction on or after the Nov 29th to offest.?

There will be more FFN preferred than Commons if the retraction takes place. Basically Quadravrest buys back those shares at NAV of NOV 29.. so depending on how many are retracted. Last update showed the exact SAME number of commons and preferreds in FFN full update.
Likley Quadravest will try and buy back preferreds to cancel , so as to level it up.

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