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 12, 2011 9:59am

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Post# 19140555

Houndtrader

Just curious - please explain the Poison Pill that Bankers put inplace and please identify where it discusses a price of $9?

The shareholders rights plan simply says that in the event of a hostile takeover attempt wher someone tables an offer for 20% or more of the company WITHOUT SUPPORT OF THE BOARD, existing shareholders would be offered the right to purchase shares at 50% of the market price.

I point this out, because you continue to suggest that there is a price limit in play and there is not. The CEO had suggested at the time, that the board would not support an offer below $9 but as you can see - things do change.

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