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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
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Post by Dexter19on Jul 26, 2016 1:53pm
143 Views
Post# 25085525

RE:safe approval

RE:safe approval Now, we know that 1P reserves of the company are worth $648M after tax. The company had $52M in cash and $117M in debt at year-end, for a net value of -$65M. Let's say net 1P reserves are worth $583M. Using a USD/CAD ratio of 1.30, we have a net asset value of C$758M, or C$2.89 per share. The discount from the current offer amounts to C$180M. Has management and the board done the best they could? Note article written March 21 seeking alpha 
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