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.

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Big Banc Split Corp > Delay?

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Comment by anyoneon Jun 29, 2016 2:02pm

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Post# 25009428

RE:Delay?

Around $3B Chinese Yuan (around 1/5 market value of Geo-Jade) is required to close the deal. I don't think Geo-Jade has cash and very likely private placement fund is required. Normally it takes less than 30 days for Chinese government to approve such deal (i.e. LRE deal). I think the Chinese authority is waiting for private placement fund to approve the deal. As Geo-Jade is re-applying private placement application, the approve process would take at least one month.

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This junior mining stock offers billions in market exposure