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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

Comment by mjh9413on Mar 22, 2016 1:38am
369 Views
Post# 24686594

RE:Not a lock

RE:Not a lockHave never been in BNK but I do not see why this takever should fail. Geo successfully bought that Kazhakstan company in 2010 and seems they are doing 3000bopd and 10,000boepd gas, and the CEO says that the two companies have worked together on technicaal matters, such as workovers to improve prodn. They are not a State entity and anyway assets are non-Canadian, and there is some sort of agreement to keep on mgmt and the Canadian office even though it should not be a hindrance to any approvals, Last qtly's for BNK showed priced realised of about $40 and they were cash flow positive which is a good counter to t/o not proceeding and support this price. Thing with Albanian govt and taxes now has firm commitment to the recommendations of mutually agreed international auditor but clearly the risks (i.e. past and ongoing taxes payable) are completely unknown, and that could still be a downside to BNK. So why not sell company now at this price. I did go long during today's trading. GL
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