RE:DC.A Substantial Issuer BidMy view is Goodman is after shares held by former E-series Pref holders. As most know, some 50 million dc.a subordinate shares were created via forced conversion of the E-series back about May 2019. Those former E-series holders were dividend buyers seeking yield. Since the conversion I am thinking the bulk of the yield seekers have been stuck with dc.a shares. The non-liquid market did not permit any sort of exit for most. The $20 million buy back between $1.40 and $1.60 is tactical aimed at low hanging fruit. It serves the long term interests of Dundee at the expense of those former E-series shareholders because the buy back price bakes in a loss for those former E-series holders ( ones that subscribed to E-series at time of issuance ). If memory serves me correct, the cost to the E-series holders is about $2.00 per dc.a ( excluding dividends previously received on E-series ). Will this SIB succeed as priced? It might, however, as mentioned, it might be re-priced upwards in order to entice shareholders to deliver up their shares. January 11 is a very long ways away. Lots could change between now and then. Where will dc.a share price be six months from now?