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.

TSX:BNK - Post by User

Big Banc Split Corp

Bullboard Posts

Comment by rehsifylfon Mar 22, 2011 2:52pm

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Post# 18323144

RE: Is a PP coming soon ? -

I really don't think the buyer is buying the production - even with BNKs plans of 40K/day - that is nothing compared to the reserves. They simply need production to pay for development, which serves to prove reserves. They have more than enough cash to pay for the Pilot and all the 2011 and 2012 capital projects.

This obviously could go either way, but I'm not selling any shares until $11 or a buyout - whichever comes first.

Glen

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