North American Financial 15 Split Corp T.FFN

Wow Wow Wow

[marcrobert]

Wow 1 - I was out all day, Low 6.83, i would have bought a few thousand... who would have thought they would release it during trading!!!!!
Wow 2 - News release at 2pm- WTF quadrapaque? don't see any halts either
Wow 3 - still over 70 cents below nav - can it trade at a premium? or is that only for brompton?

[AwesomeMatthews]

No reason to halt as they don't need to reoranize the fund just buy back A shares as they are trading at a discount . As for trading at premium that is for the open market to dictate, many dividend stocks trade above NAV

[itsthehitman]

and more wow e wow wow...from me......didnt panic and got back to 7.31 to close.....monday could be very interesting....1.3 million shares traded.....sorry for the panic sellers when it hit bottom but hey....could have been me.  glta

[marcrobert]

they needed to halt because they put out material information during trading hours, which clearly had a huge impact on the stock price. Now, did they send out the news during trading isntead of outside of trading to rescue the stock? maybe, that would be the right thing to do.

[myNEXTmillion]

Interesting sentence in the news release on Friday... "The company may use the normal course issuer to repurchase Class A shares at or below intrinsic value. The current intrinsic value exceeds $8.00 per share. " My guess, FFN wanted to raise the share price.  They may have kept hitting the bid to raise it.  May do so again on Monday to raise the share price so the shares can

[mouserman]

Yes must  have  dumping shares at 1$ below NAV thru the ATM to level up the amounts of preferred vs Commons.  So i cannot see why the same wont happen with LFE and DF.. not sure bout DFN  , with the big float ,whether the effect would be the same.