Big Banc Split Corp. Announces Extension of Term and Preferred Share Distribution Rate

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Postmedia has not reviewed the content. by GlobeNewswire Big Banc Split Corp. Announces Extension of Term and Preferred Share Distribution RateAuthor of the article:This news release constitutes a “designated news release” for the purposes of the company’s prospectus supplement dated May 6, 2026 to its short form base shelf prospectus dated November 25, 2025.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountTORONTO, Sept. 28, 2026 (GLOBE NEWSWIRE) — (TSX: BNK, BNK.PR.A) Big Banc Split Corp. (the “Company”) is pleased to announce that the board of directors of the Company has approved an extension of the maturity date of the Company’s class A shares (the “Class A Shares”) and preferred shares (the “Preferred Shares”) for an additional 3-year term to November 30, 2029 (the “New Term”) and that the distribution rate for the Preferred Shares for the new term from November 29, 2026 to November 30, 2029 will be $0.75 per Preferred Share per annum, representing a 7.5% yield on the redemption price per Preferred Share of $10.00 (the “Preferred Share Distribution Rate”). Purpose Investments Inc. (“Purpose”) is the manager, portfolio manager and promoter of the Company and provides all administrative services required by the Company. The extension of the term of the Company is not a taxable event and enables shareholders to defer potential capital gains tax liability that would have otherwise been realized on the redemption of Class A Shares or Preferred Shares at the end of the term, until such time that shares are disposed of by shareholders.This advertisement has not loaded yet, but your article continues below.The Company invests on an approximately equally weighted basis in a portfolio (the “Portfolio”) of equity securities (the “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. In order to seek to generate returns and enhance the Portfolio’s income, Purpose may write covered call options and cash-covered put options in respect of some or all of the Portfolio Shares held in the Portfolio.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againIn connection with the extension, holders of Class A Shares and Preferred Shares who do not wish to continue their investment in the Company will be able to retract their Preferred Shares or Class A Shares, as applicable, on November 30, 2026, pursuant to a special retraction right and receive a retraction price that is calculated in the same way that such price would be calculated if the Company were to terminate on November 30, 2026. Pursuant to this option, the retraction price may be less than the market price if the Class A Share or Preferred Share, as applicable, is trading at a premium to net asset value. To exercise this retraction right, shareholders must provide notice to their investment dealer by October 31, 2026 at 5:00 p.m. (Toronto time). Alternatively, shareholders may sell their Preferred Shares and/or Class A Shares through their securities dealer at the market price at any time, potentially at a higher price than would be achieved through retraction, or shareholders may take no action and continue to hold their Class A Shares or Preferred Shares.This advertisement has not loaded yet, but your article continues below.AboutPurposeInvestmentsInc.Purpose Investments is an asset management company with more than $33 billion in assets under management. Purpose Investments has an unrelenting focus on client-centric innovation and offers a range of managed and quantitative investment products. Purpose Investments is led by well-known entrepreneur Som Seif and is a division of Purpose Unlimited, an independent, technology-driven financial services company.For further information, please contact: Keera Hart Keera.Hart@earnscliffe.ca 905-580-1257Youwillusuallypaybrokeragefeestoyourdealerifyoupurchaseorsell sharesof theinvestmentfundson theToronto Stock Exchange. If the securities are purchased or sold on the Toronto Stock Exchange or other market, you may pay more than the current net asset value when buying shares of the investment fund and may receive less than the current net asset value when selling them. Investment funds are not guaranteed, their values change frequently, and past performance may not be repeated.Commissions, trailing commissions, management fees and expenses may all be associated with investment Fund investments. The prospectus contains important detailed information about the investment Fund. Please read the prospectus before investing. There isno assurance that any Fund will achieve itsinvestment objective, and itsnet asset value, yield, and investment return will fluctuate from time to time with market conditions. Investment Fund securities are not covered by theCanada Deposit Insurance Corporation or byanyother government deposit insurer. Investment Funds are not guaranteed, their values change frequently, and past performance may not be repeated.This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.