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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 > deadlines
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Comment by mohsin6on Jul 21, 2016 10:49am
149 Views
Post# 25072100

RE:RE:RE:RE:deadlines

RE:RE:RE:RE:deadlinesMy understanding speaking to IR -- the deal is being worked out by Geo and BNK to extend the deal since SAFE is taking longer than predicted. so quite right this will be much longer than anticipated. Sept30 was quite right a built in date if SAFE had approved prior to July31 which wont happen. Therefore everything will be extended provided BOTH parties agree to extend the deal.  They are hopeful BOTH sides agree to extend since SAFE is taking its sweet time.  LIke one said a "moving target" for some time if they agree to extend the deal.  
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