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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 > Can anyone make sense of this press release
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Comment by BargainHunter88on Aug 20, 2016 2:29pm
387 Views
Post# 25161234

RE:Can anyone make sense of this press release

RE:Can anyone make sense of this press releaseBelow is the translation of content relevant to BNK aquisition.

“” ......................................................................................................................................................................................................................... ............................................................................................................................................................................

At the present, the aquisition of BNK through ShangHaiLongZhouXinKe Energy Investment company has been approved by Albanian and Canadian Government. .......................................................................The Company and intermediaries are working dilligently to complete the audit and evaluation of assests involved in this restructure, while facilitating the aquisition of foreign oil and gas assests through ShangHaiLongZhouXinKe Energy Investment ..............................................
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