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 rehsifylfon Oct 07, 2008 11:39pm

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Post# 15512433

RE: We're not here for a good time and we're here

Need to look at the numbers again I think.

They'll be lucky to netback $18 per barrel. At 7000 bopd thats 46M per year. Capital plan for 2009 was 120 M. They had planned on borrowing money - but that might be a little tough right now. Possible that capital cost will go down with price of steel and potentially labour, but I think they should suck back and bank some cash. Once oil stabilizes at or above $100, Carry on.

There is a reason that juniors got hammed to the tune of 70% when broader index got hit to the tune of 30% - they need capital to go forward with plans, and there is no capital available. Sad but true.

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