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Wednesday, August 17, 2011

Closing the night with my vote for New Flyer Industries Inc. (NFI.UN) IDS Holders of Non-Cash Rights Offering

That one was not easy to understand. Not easy at all. The prospectus received is really not easy to understand. That’s why I wait until the limit date to exercise my vote. I had vote the FOR, meaning I decided to exercise the rights on my shares. According to some reading done online, it was the best option. Also, I vote according to New Flyer recommendation. I also pick the option with the fiscal advantage, even if I don’t a clue of what it mean, especially knowing that in the prospectus, it is said that we have 90 days to print a document on New Flyer Web site to have those fiscal advantages... So it’s pretty mess up. However, the most important part was to exercise the vote. But what a headache!!! Very unclear and badly explained. The prospectus suck!!! I began to really hate New Flyer at this point for making me going through this.

My shares were bought at an average value of 11.75$. If lucky, this could boost my return to 12$+.  And this being done only by exercising my right! If you are a shareholder of New Flyer Industries Inc. (NFI.UN) and as much confuse as I am, read these posts and this one here. I think it’s obvious that exercising the vote is the best thing to do. It’s also what recommends New Flyer. I did the best I could.

It could take up to 2-3 weeks before I see the results in my broker account at TD Waterhouse. I cannot wait to see what it will be like... No matter what, I am still a proud shareholder of NFI.UN. But I guess they didn't give a damn that a retail investor understand or not what we were going to read and I find it quite insulting. Very shock still about the prospectus. However, I am very excited because this is my chance to recover from the current loss that I am experiencing with NFI.UN since I bought my shares at an average price of 11.75$ each. This is the ultimate chance.

Good night. Today is the last day to exercise your rights. You need to call your broker. If not, no deal.

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