Mr. Manji,
We know you are a smart leader, and have the skills and mindset to think out of the box. This is why you have investors willing to stand behind you.
It's time to make a bold move, and begin the bold position to create the ultimate value turn-around. Begin the move and announce your plan to liquidate all assets over 3 years, and make this your official transition plan. Prove NAV and as you sell, the unit price will close the gap to NAV as you make the progression towards the last building. This needs to be announced as the official plan. We all know you have been doing this strategically already, but to close the gap, you need to announce it and make it the official end game. Don't return the cash to unitholders until the very end, except to help with partial cash distributions to cover the tax portions as you have been.
It's time to show investors you are the smartest CEO on the block. Then prove it with your actions. Get us back to where we need to be, and the time is now.
Signed
- Long term investor