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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

Comment by nexthinkon Nov 30, 2015 10:15am
221 Views
Post# 24338033

RE:Cannacord comment

RE:Cannacord comment
"Now there is the threat of Bankers winding down their operations in Albania due to lack of access to bank accounts. With a general statement that Bankers will monitor the situation and will remain "hopeful" that a solution can be reached before further disruptions to operations occur, this does cause some concern. Impact on operations As of the release of this report, we are still waiting to hear from management on exactly what level of production disruption is currently occurring and to what degree it is "phased-down" by year-end. If Bankers isn't able to export crude, essentially the worst case scenario is that the company will have to shut-in all operations in the coming weeks until the matter is resolved. With the independent audit not due to be completed for a while, this could potentially result in Bankers not being on production coming into year-end. "

"Currently the Albanian government is treating the company as if it is already guilty of violating its tax laws."


So much uncertainty head....
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