FFN.PR.A : Term Extension Approved

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.

Preferred Shareholders voted 98.5% in favour of the resolution and Class A Shareholders voted 93.8% 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.

PrefInfo.com and the HIMIPref™ database will be updated with the new scheduled redemption date shortly.

Update: Updates have been completed. A reorgDataEntry has been processed in HIMIPref™ with the reorgType REORG_TERMCHANGE changing from the old securityCode A45260 to the new securityCode A45261 … and of course, all the other permanentDatabase tables changed as required to describe the new instrument.

2 Responses to “FFN.PR.A : Term Extension Approved”

  1. […] In favour of the preferred shareholders is the idea that Quadravest has quite a nice little business going, packaging the flavour of the month into a split share corporation and flogging it through an established pipeline.  I wouldn’t think they would contemplate doing anything that would jeopardize that goose and its bonus-filled eggs. Additionally, it won’t take much more than a rounding error to get the issue size over $100-million, and anything that improves liquidity is all right by me. It should also be noted that FFN.PR.A also experienced a term extension, has a NAVPU of $28.03 as of May 15, but did not have such a press release issued today. […]

  2. […] second attempt to extend term. The prior attempt was denied in April 2007 while term extensions for FFN.PR.A and DFN.PR.A were […]

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