# SCITI (SIN.UN) exchange offer



## agent99 (Sep 11, 2013)

Anyone here own SIN.UN? If you do, you have probably heard that the fund will be wound up this month.

Now Quadravest have posted an exchange offer that would exchange Financial 15 split Class A capital and preferred shares for sciti shares. 

http://docs.wixstatic.com/ugd/78f11d_1fb0042a4387450db4d1a3bebd6a01f3.pdf

The offer seems reasonable. However it was just posted today (9th). They still need approval from TSX and the closing for the Class A shares in April 16th. Not much time to get offer to sciti holders!

We hold quite a bit of SIN.UN and would like to, at least in part, participate. But not sure yet just how to do that through BMOIL. 

FTN holds Canadian and US Financials. Maybe not best time to go heavily into the fund, although pfds may be ok.


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