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 > GEO-JADE BUYS BANKERS BNK FOR $2.20 SHARE CASH

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Post by oThedave2oo6on Mar 21, 2016 10:43am

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Post# 24683201

GEO-JADE BUYS BANKERS BNK FOR $2.20 SHARE CASH

GEO JADE PAYS $2.20 CASH PER SHARE FOR BANKERS PETROLEUM BNK.TO
Bankers Petroleum Ltd. enters into definitive agreement to be acquired by an affiliate of Geo-Jade Petroleum Corporation

Canada NewsWire

CALGARY, March 20, 2016 /CNW/ - Bankers Petroleum Ltd. ("Bankers") (TSX: BNK, AIM: BNK) is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") with 1958082 Alberta Ltd. (the "Purchaser") and Charter Power Investment Limited ("Charter Power") for the purchase of all the issued and outstanding common shares of Bankers ("Bankers Shares") at a cash price of C$2.20 per Bankers Share. The Purchaser and Charter Power are affiliates of Geo-Jade Petroleum Corporation ("Geo-Jade"), one of the largest independent oil and gas exploration and production companies in China. The transaction will be effected by way of a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). The Arrangement values Bankers at approximately C$575 million before the assumption of the outstanding indebtedness of Bankers.

Highlights

Cash price of C$2.20 per Bankers Share

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