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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Post by Quick4youon Mar 26, 2016 11:02am

176 Views

Post# 24701843

L'offre sera acceptée et il est fiable à 97 %

La raison est simple.

La direction detenait 6 % des actions en circulation avant le 20 mars 2016.

Alors 261,557,384 actions en circulation X 6 % = 15,693,443 actions que detient la Direction avant le 20 mars 2016.

Les Institutions et les Fonds mutuels detiennent ensemble plus de 60 % des actions. Ils devraient accepter l'offre de CA$2.20 ...sauf s'il y a une offre superieure.

An information circular regarding the Arrangement is expected to be mailed to the shareholders of Bankers in April for a Special Meeting anticipated to be held before the end of May.

Highlights

Cash price of C$2.20 per Bankers Share.

The Arrangement has received the unanimous approval of the Board of Directors of Bankers (the "Bankers Board") and carries the full support of Bankers' management team.