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

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Post by friendlyrickon Mar 31, 2006 8:17am

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Post# 10599677

price for both 2005 and 2004 was capped at $2

I'm surprized to see such a low price per barrel. Any comments on this. Otherwise a great news release. Hopefully they will produce better quality oil which they could sell at a greater profit. Is albania the ticket? What is the Albanian political situation? The Company sold all of its production in 2005 and 2004 to Armo at prices determined by a formula under which the price for both 2005 and 2004 was capped at $22.60 per barrel (adjusted for product quality) with the exception of one export shipment of approximately 22,000 barrels to an Italian refinery in November 2005. Consequently the Company averaged $22.52 and $22.30 per barrel respectively in 2005 and 2004. Gross revenue in 2005 was $13.7 million as compared to $3.5 million in 2004.

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