Big Banc Split Corp (the “Company”) (TSX: BNK/BNK.PR.A) has received approval for a normal course issuer bid to purchase up to 181,410 Class A Shares and 181,410 Preferred Shares (together, the “Shares”) of the Company, representing approximately 10% of the public float of 1,814,104 Shares for each as of August 25, 2020. The Company may purchase up to 36,282 Class A Shares and 36,282 Preferred Shares in any 30-day period, which is 2% of the 1,814,104 of each class issued and outstanding at August 25, 2020.
The Shares may be purchased for cancellation from September 4, 2020 to September 3, 2021 through the facilities of the Toronto Stock Exchange or other eligible alternative markets, and Class A shares may only be purchased at a price per Share not exceeding the last published net asset value per Share. Preferred Shares will be purchased for cancellation in equal number to Class A Shares. Purpose Investments Inc., the manager of the Company, believes that such purchases are in the best interest of the Company and are a desirable use of its available funds.
About Purpose Investments Inc.
Purpose Investments is an asset management company with over $9-billion under management. Purpose Investments is built around the core values of risk management, quality investment strategies, transparency, accessibility and sustainability. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Financial, an independent technology-driven financial services company. For further information please contact:
Purpose Investments Inc.
Tel: (877) 789-1517