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 > Weak Level II

<< Previous

Bullboard Posts

Next >>

Comment by corvette67on Jan 26, 2016 4:10pm

165 Views

Post# 24495488

RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Weak Level II

Hello, I apologize for the delay getting back to you. The funds are not in escrow, they are considered deposits to the tax department, with an agreement that the assessment would be redetermined by the third-party audit or if necessary the arbitration process. It is also within the agreement that should the Company overpaid in that time, the Company would be repaid the difference. Thank you, Laura Bechtel Investor Relations Analyst (w) 403-513-3428 (c) 403-389-1498 (f) 403-228-9506 Suite 800, 777 - 8th Avenue S.W. Calgary, AB T2P 3R5 lbechtel@bankerspetroleum.com

<< Previous

Bullboard Posts

Next >>

Nextech CEO provides company update on Amazon deal and more