North American Financial 15 Split Corp. Announces TSX Acceptance of Normal Course Issuer Bid

Core Viewpoint - North American Financial 15 Split Corp. has announced its intention to initiate a Normal Course Issuer Bid (NCIB) to repurchase its Preferred Shares and Class A Shares, which will run from June 2, 2025, to June 1, 2026 [1]. Group 1: NCIB Details - The Company plans to buy up to 5,738,811 Preferred Shares and 5,865,279 Class A Shares, representing 10% of the public float of 57,388,118 Preferred Shares and 58,652,794 Class A Shares as of May 21, 2025 [2]. - The Company will limit its purchases to a maximum of 1,147,772 Preferred Shares and 1,174,499 Class A Shares in any 30-day period, which is 2% of the issued and outstanding shares as of May 21, 2025 [2]. - No shares were purchased under the previous NCIB that ended on May 28, 2025 [2]. Group 2: Management Perspective - The Board of Directors, advised by Quadravest Capital Management Inc., believes that the share repurchases are in the best interests of the Company and represent a desirable use of its funds [3]. Group 3: Investment Portfolio - The Company invests in a high-quality portfolio consisting of 15 financial services companies, including major Canadian and U.S. issuers such as Bank of Montreal, Royal Bank of Canada, and Goldman Sachs Group [4].