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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 braincloudon Jan 12, 2016 8:22pm
141 Views
Post# 24452122

RE:RE:RE:RE:dispute

RE:RE:RE:RE:disputeIt started with the diluent importation then they accused them of inflated costs. Everything from salaries to drilling contracts. It escalated from there. There was reference given to the tax conflict almost a year ago.
From what I understand, the government was running short of money. Bankers was an easy mark. The Azerbaijani Bank left the country owing some considerable amount of money, something in the order of $30 million. On top of that the prior years revenue stream was also being counted on. Once the IMF stepped in with their audit for future loan approvals it was in the middle of the conflict . I think that the ALB government was surprised by the reaction they got , and probably regretted what they did. Now that the wheels are in motion there's no going back. The auditor was agreed to by both parties and both parties will share in the cost of the audit. Once the audit is completed there will be a reference point for future audits. I think that's where future conflicts will be averted. 
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