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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.


TSX:BNK - Post by User

Big Banc Split Corp
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Comment by Whitehellon Sep 16, 2013 2:20pm
276 Views
Post# 21743370

RE:RE:RE:RE:claim

RE:RE:RE:RE:claim
I think the contract was made so they sells at a % of Brent crude oil but doing so, they don't have to pay for transportation cost and it is BP's problem. They might have made some calculation and with Brent going up, maybe that the % of discount made was getting bigger and bigger in term of dollars which made it more economical for BNK to transport oil themselves... I'll try to found back what i read this morning about this contrat on an old 51-101...

But it is just supposition, who knows why they cancelled it...
Bullboard Posts
Dealroom for high-potential pre-IPO opportunities