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 > voting process clarification

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Post by drinkcolaon Apr 12, 2016 12:30pm

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Post# 24756946

voting process clarification

I understand that 2/3 of the shareholders need to vote "Yes" for this deal to go through.
However, can someone offer a clarification on the voting process? Here are the questions I have:

1. How does one vote? (paper mail, electronically, other method?)
2. If a shareholder does not vote, is that defaulted to a "yes" or a "no"?
3. Who gets to vote? (i.e. when would I need to actually hold the shares for me to be eligible) I'd imagine if I bought 1 million shares after the buyout annoucement, I wouldn't be qualified to vote right?

Thanks in advance

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