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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 ChupacabraBuenoon Jul 25, 2016 7:54pm
174 Views
Post# 25083312

RE:RE:RE:RE:SAFE Approval

RE:RE:RE:RE:SAFE Approvalbcloud, if there are just 2 hurdles to clear, SAFE and funding, of course this board should be very interested in both. The funding issue is fairly opaque. But I think most people expect that Geo-Jade can come up with the money, in part because management seem to be betting on it. The 2-weekish SAFE approval process should have begun at the end of May, when NDRC and MOFCOM approvals were received. As the latest press release(s) point to SAFE approval as potentially serious delay & it has already taken 2 months for an approval that has typically been completed in 2 weeks, it should be no surprise that curiosity has been piqued. But I'm not sure what point you were making. Were you pointing out that even with SAFE approval the deal is not yet done? We should keep that in mind.
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