RS.PR.A : Name Change

Middlefield has not bothered to announce the recent name change of Real Estate Split Corp. (formerly Real Estate & E-Commerce Split Corp.). To get the details, one must visit SEDAR and search for “Real Estate Split Corp. (formerly Real Estate & E-Commerce Split Corp.) Jan 6 2022 09:36:30 ET Other securityholders documents – English PDF 169 K” to get a link to a document that the Canadian Securities Administrators won’t allow me to link to because we’re all stupid investor scum and should not bother ourselves with complicated documents.

Oh, Canada!

2 Responses to “RS.PR.A : Name Change”

  1. dave says:

    Anyone know of nay forums to discuss preferreds ? I dont know if this is a good time or bad time to buy? I see some of the preferreds here with dates maturing eg 2025 . IS that a hard maturity or do the issuers have the options to extend for another 5 years ? TIA

    eg CM.PR.Y or TD.PF.D ?

  2. jiHymas says:

    Anyone know of nay forums to discuss preferreds ?

    I recommend the Financial Wisdom Forum, which has a very long thread devoted to preferred shares, as well as other scattered mentions.

    I see some of the preferreds here with dates maturing eg 2025 . IS that a hard maturity or do the issuers have the options to extend for another 5 years ? TIA

    eg CM.PR.Y or TD.PF.D ?

    Virtually all Canadian preferred shares are perpetual with embedded calls exercisable at the sole discretion of the issuer; this is due to accounting changes in the 1990’s that disallowed the inclusion of non-perpetual issues as a component of Shareholders’ Equity on the balance sheet. For practical purposes, the only exception to this general rule is SplitShares – which can be useful, but have their own problems.

    In particular, CM.PR.Y and TD.PF.D are perpetual issues of the FixedReset type; they have a call provision that applies every five years on their reset date.

    Please always check the prospectus yourself before investing; I hear a constant stream of horror stories from investors who didn’t.

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