Q: Timbercreek Mortgage Investment Corp. (TMC) will be converting their Class A Shares to a new voting class of Common Shares. I have the option of receiving the new shares or to receive a cash redemption for my Class A Shares equal to the Net Redemption Value (NRV).
According to Timbercreek's web site the NRV for Class A Shares is $9.33 (minus 6 to 9 cents in costs) (as of Sept 23/13). My TMC shares are in a RSP account,are $600 below book value & presently pay a 7% dividend. Do you have any thoughts on whether I should hold onto the shares or accept the cash redemption if the present NRV is to be believed? Thanks.
... Cal
According to Timbercreek's web site the NRV for Class A Shares is $9.33 (minus 6 to 9 cents in costs) (as of Sept 23/13). My TMC shares are in a RSP account,are $600 below book value & presently pay a 7% dividend. Do you have any thoughts on whether I should hold onto the shares or accept the cash redemption if the present NRV is to be believed? Thanks.
... Cal