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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

TSX:BNK - Post Discussion

Big Banc Split Corp > Look Gibbons - facts are fun
View:
Post by QUANTUMJUMP on Aug 24, 2016 9:08pm

Look Gibbons - facts are fun

In exchange for this extension, Geo-Jade agreed (as of July 29, 2016, being the date of the amending agreement) that failure to receive the SAFE approval by Sept. 30, 2016, would entitle Bankers to the $20-million (U.S.) reverse termination fee
Comment by gibbonsj on Aug 25, 2016 12:36pm
Quant: That is s pretty skinny statement, there are always conditions attached such as who is responsible for SAFE delays. This is a very rich deal for BNK do not think that management/insiders want the $20M break fee over the buyout. There is only one deal on the table. The alternative is to collect the $20m fee and watch sp crater to sub $1 and then a year later close the doors.
Comment by QUANTUMJUMP on Aug 25, 2016 12:44pm
No Gibbons the onversation starts with you admitting you did not even read any press releases You stated if they did not get SAFE approval the breakup fee did not have to get paid  you have no clue and have done zero DD 
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