FFN.PR.A : Special Resolution Released

As previously noted, FFN.PR.A shareholders will be meeting on April 24 to vote on a special resolution. The text of this special resolution has now been released:

1. The Articles of Financial 15 Split Corp. II (the “Fund”) be amended to extend the termination date of the Fund to December 1, 2014.
2. The directors and officers of the Fund be and they are hereby authorized and directed to take such action and to execute and deliver all such documentation as may be necessary or desirable for the implementation of this special resolution.
3. Notwithstanding the provisions hereof, the directors of the Fund may revoke this special resolution at any time prior to the endorsement by the Director of the Certificate of Amendment under the Business Corporations Act (Ontario) giving effect hereto without further approval of the shareholders of the Fund.

This is a great deal for preferred shareholders, since the prefs pay 5.25% of redemption value and are trading at a premium. Votate Si!

One Response to “FFN.PR.A : Special Resolution Released”

  1. […] Shareholders in Financial 15 Split Corp. II have approved the term extension to Dec. 1, 2014: Shareholders were asked to consider a special resolution to amend the articles of the Company to extend the termination date for the Class A Shares and the Preferred Shares to December 1, 2014. […]

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