DFN.PR.A: Text of Special Resolution Released

As previously noted, shareholders of DFN.PR.A will be meeting on April 24 to consider a special resolution, the text of which has now been released:

1. The Articles of Dividend 15 Split Corp. (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.

A very good deal for DFN.PR.A shareholders to continue providing financing at 5.25% (as a dividend! Interest-Equivalent of (for rich people in Ontario) of 7.35%! It’s very kind of the Capital Unit holders to give the idea any consideration at all!

One Response to “DFN.PR.A: Text of Special Resolution Released”

  1. […] The Special Resolution to extend the term of DFN.PR.A to December 1, 2014 has been approved: Preferred Shareholders voted 99.5% in favour of the resolution and Class A Shareholders voted 97.6% in favour of the resolution, and therefore the resolution to extend the termination date to December 1, 2014 was approved at the meeting held earlier today. […]

Leave a Reply

You must be logged in to post a comment.