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First National announces results of conversion privileges for Class A Preference Shares, Series 1 and Series 2
Mar 19, 2021
For Immediate Release
Toronto, Ontario, March 19, 2021 – First National Financial Corporation (“First National”) (TSX: FN, TSX: FN.PR.A, TSX: FN.PR.B) today announced that 399,700 of its outstanding cumulative 5-year rate reset Class A Preference Shares, Series 1 (“Series 1 Preference Shares”) were tendered for conversion, on a one-for-one basis, into cumulative floating rate Class A Preference Shares, Series 2 (“Series 2 Preference Shares”). The Company also announced that 497,388 of its outstanding Series 2 Preference Shares were tendered for conversion, on a one-for-one basis, into Series 1 Preference Shares.
After both conversions, effective April 1, 2021, the Company will have 2,984,835 Series 1 Preference Shares and 1,015,165 Series 2 Preference Shares outstanding and issued. The Series 1 Preference Shares will continue to be listed on the Toronto Stock Exchange (“TSX”) under the symbol FN.PR.A and the Series 2 Preference Shares will continue to be listed on the TSX under the symbol FN.PR.B.
About First National Financial Corporation
First National Financial Corporation (TSX: FN, TSX: FN.PR.A, TSX: FN.PR.B) is the parent company of First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. With more than $118 billion in mortgages under administration, First National is Canada’s largest non-bank originator and underwriter of mortgages and is among the top three in market share in the mortgage broker distribution channel. For more information, please visit www.firstnational.ca.
For further information:
Robert Inglis
Chief Financial Officer
First National Financial Corporation
Tel: 416-593-1100
Email:
investors@firstnational.ca
Ernie Stapleton
President
Fundamental Creative Inc.
Tel: 905-483-5331
Email:
investors@firstnational.ca
