Bullboard - Stock Discussion Forum 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... see more

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Big Banc Split Corp > Share Deposit Process

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Post by Ice100 on Jun 03, 2016 2:34pm

Share Deposit Process

Does anyone know the particulars of deposing shares once the deal closes? I presume the price will float up to 2.20 as we near closing and it may be easier to just sell the shares (maybe at 2.19) before they're delisted to avoid the hassle of having to deposit shares w/ certs etc.

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Comment by QUANTUMJUMP on Jun 03, 2016 2:44pm

you dont need to do anything , it is all done at the other end , usually within 3-5 days you will have the cash in your acct after it closes with that said you could sell to the arb guys

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Comment by dubsbs on Jun 04, 2016 6:05am

How it works. One morning you will wake up check your account and see cash in your account without any broker fee equaling the total amount of your shares times 2.20 and your share count on bnk = 0

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