Information concerning redemption of
Fonds de solidarité FTQ shares in case of a loss
MONTRÉAL, May 10, 2017 /CNW Telbec/ - Although the flooding situation in Québec has stabilized in the last few days, there are still many pressing needs. According to the latest information, Red Cross volunteers are on the ground in 25 municipalities and 12 assistance and information centres, providing relief to over 1,400 people.1
To help the thousands of people affected by the floods, the Fonds de solidarité FTQ is donating $35,000 to the Red Cross. Such donations allow the organization to offer disaster relief services to evacuees in the affected communities.
To donate to the Spring Flood Appeal – Quebec Designation, go to the Red Cross Website at www.redcross.ca.
Share redemption in case of a loss
Fonds de solidarité FTQ shareholders whose homes have been damaged by the flooding can ask the Fonds to redeem their shares.
Under the Fonds' purchase-by-agreement policy, as approved by the Government of Québec, certain conditions must be met and the following documents provided when requesting a redemption for a loss pertaining to a principal residence:
- The Fonds form titled "Loss Involving to Principal Residence," including the shareholder's solemn declaration to the effect that he is unable to pay the expenses resulting from the loss;
- Proof of the loss;
- Proof of partial indemnification or absence of indemnification;
- Proof of the costs related to the loss;
- Proof that all redeemable investments have been cashed or that they are not redeemable.
All shares are eligible for redemption up to the amount required to cover all or a substantial part of the costs incurred. Shareholders who cash in their shares under this criterion cannot purchase Fonds shares for one year after the redemption.
Shareholders requiring additional information or assistance can call Saving Services:
Montréal: 514 383-3663
Québec City: 418 622-3663
Elsewhere in Québec (toll free): 1-800-567-3663
About the Fonds de solidarité FTQ
The Fonds de solidarité FTQ is a development capital fund that channels the savings of Quebecers into investments. As at November 30, 2016, the organization had $12.2 billion in net assets, and through its current portfolio of investments has helped create and protect over 187,000 jobs. The Fonds is a partner in more than 2,600 companies and has nearly 618,000 shareholder-savers. fondsftq.com
1 Source: http://www.croixrouge.ca/blogue/2017/5/nos-benevoles-assistent-les-sinistres-des-inondations
SOURCE Fonds de solidarité FTQ
For further information: for media representatives only: Patrick McQuilken, Senior Advisor, Media Relations and Communications, Fonds de solidarité FTQ, Phone: 514 850-4835, Mobile: 514 703-5587, Email: email@example.com