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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

Post by navgodon Nov 25, 2024 8:59am
322 Views
Post# 36328730

FFN Retraction, Redemption, and DD

FFN Retraction, Redemption, and DDHolders of FFN and FFN.pr.a who have not submitted to the special retraction should go to the Quadravest website and pull up the most recent Annual Information Report under Documents for FFN. Under the section titled Term and Termination of the Company go to the subsections --  Recurring Special Retraction Right,  Special Redemption Right, and Subdivision or Consolidation of the Preferred Shares or the Class A Shares. These sections detail possible action Quadravest might take if a significant retraction of Class A takes place. At this point only Quadravest management knows the extent of the retraction and their plan to deal with it. However if the Quadravest was going to exercise it's Special Redemption Right holders of FFN.pr.a should have received notification of a pro-rata redempton by now. Maybe Mouserman is right and there is only a small percentage retracted and this turns out to be a "nothing burger" or not.
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