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 tinman8on Nov 15, 2009 9:25am

485 Views

Post# 16488049

RE: re RE: RE: RE: RE: Financials Look Good

I dont think management would recommend acceptance of any buyout under $10
Depending on the % of any premium being offered over the SP - I feel the share price would need to average something in excess of around $7.20 in order to attract a $10+ buyout offer.
I believe there is a reasonable chance we could reach that sort of SP level in a 6-8 month time frame - so the first 6 months of next year could prove interesting.
So far this year it has been prudent 'steady as we go modest production increments' but with excellent financing in place, an untouched loan facility of 110 million, solid oil prices, and significantly improved netbacks, - there is every indication that Abby will ramp up the drilling and production over the next couple of quarters at a greatly excelerated pace.
GLA

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