{"id":793,"date":"2007-04-24T14:44:40","date_gmt":"2007-04-24T18:44:40","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=793"},"modified":"2007-04-24T14:44:40","modified_gmt":"2007-04-24T18:44:40","slug":"ftnpra-term-extension-denied","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=793","title":{"rendered":"FTN.PR.A : Term Extension Denied"},"content":{"rendered":"<p>Well! It looks like the capital unit-holders of Financial 15 Split Corp. <a href=\"http:\/\/www.quadravest.com\/financial%2015\/press\/FTN%20Apr24.07-Special.pdf\">have balked<\/a> at the <a href=\"http:\/\/www.prefblog.com\/?p=735\">proposed term extension<\/a> of the fund, not wishing to finance their margin at the rate of 5.25% in dividends:<\/p>\n<blockquote><p>Preferred Shareholders as a class voted 98.9 % in favour of the resolution, however the vote from Class A shareholders did not exceed the minimum required 66 2\/3% of the votes cast in favour, and therefore the resolution was not approved at the meeting held earlier today.<\/p>\n<p>Management will continue to consider if any further appropriate action should be taken on this matter.<\/p><\/blockquote>\n<p>This is interesting &#8230; I suspect that we haven&#8217;t seen the last of this issue &#8230; but as things stand now, the FTN.PR.A continue to have a redemption date of December 1, 2008.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well! It looks like the capital unit-holders of Financial 15 Split Corp. have balked at the proposed term extension of the fund, not wishing to finance their margin at the rate of 5.25% in dividends: &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-793","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/793","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=793"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/793\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}