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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

Big Banc Split Corp > The Deal Cannot Be Closed in July
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Post by gamefanon Jul 19, 2016 9:47pm
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Post# 25067286

The Deal Cannot Be Closed in July

The Deal Cannot Be Closed in JulyRight now they don't have the money to close the deal.
On July 27th, there will be a shareholder meeting to approve issuing new shares for the deal. So the deal depends on if it is approved and if all the new shares can be sold out.

Here is the original news release in Chinese.
https://finance.sina.com.cn/roll/2016-07-12/doc-ifxtwchx8538146.shtml

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