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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 mohsin6on Jul 21, 2016 3:30pm
150 Views
Post# 25073578

RE:RE:RE:RE:RE:If approved by the CHINESE GOV then the deal doesnt close

RE:RE:RE:RE:RE:If approved by the CHINESE GOV then the deal doesnt closeallow me to rephrase as it was ambiguous.  The arrangement of the deal was set for July 31 if all arrangement including SAFE were completed.  In light of SAFE most probably will not be done, then either party has to option to change or alter or come out of the arrangement. They are actively trying to pursue Geo to extend the arrangement as they know SAFE will not be done on time.  They wont change the price either way as it will entail going back to many buracratic steps.  They are simply trying to extend the contract and have Geo come out with affirmation that they are comitted. They need to have it done by July 31.  The 20mil was only if they walk off the deal prior to the arrangement of July31 which wont be necessary.  

I am waiting for this affirmation extention and then will join back as it will show their commitment even though SAFE wont have been approved.  This is what i mean by risk return .
Hope that helps in clarification.
 
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