North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

Financial Services Asset Management

North American Financial 15 Split Corp. is a 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, the amount of which is fixed on an annual basis 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 > Re Retraction

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Comment by AwesomeMatthewson Dec 07, 2024 2:45pm

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Post# 36351154

RE:RE:RE:RE:Re Retraction

The preferred shares are guaranteed therefore they get priority treatment, the yield is lower but your capital is presevered minus the premium above $10. I think Navgod is correct in assuming it will come at the expense of the Class A shares, risk vs reward scenario I'm 100% positive the preffered shares will be exempt . I'm sure Quadravest will do it's best to limit the damage to shareholders but the options are limited in scope.Perhaps the redacted shares are minimal and it could benefit of Pref. shareholders, more shares at a lower NAV yet still trade above $15 so the divi. is still paid out, right now the NAV vs the share price is not benefitting anyone.

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