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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Comment by DLS11on May 14, 2008 9:18am

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Post# 15071244

RE: News: BNK To Split Albanian & U.S. Operations

Excerpt from PR...pretty straight forward.

With respect to outstanding Bankers' common share purchase warrants,their respective exercise price will be reduced in accordance with theterms of the applicable common share purchase warrant indenture by anamount on a per share basis to reflect the fair market value of theU.S. assets that are being split into BNK-US. All such warrants, asadjusted, will remain exercisable only into common shares of Bankers.In the event a warrant holder wishes to participate in the Plan andreceive common shares of BNK-US, a warrant holder will need to exercisetheir warrants prior to the effective date of the Plan to acquireBankers common shares. Such acquired Bankers common shares willparticipate in the Plan on the same basis as all other Bankers commonshares.

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