Diversified Royalty Corp T.DIV

Alternate Symbol(s): BEVFF | T.DIV.DB.A

Consumer Cyclical Auto & Truck Dealerships

Diversified Royalty Corp. is a multi-royalty company. The Company is engaged in the business of acquiring royalties from multi-location businesses and franchisors in North America. The Company owns Mr. Lube, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centres, Stratus Building Solutions and BarBurrito trademark. Mr. Lube is the quick lube service business in Canada, with locations across Canada. Mr. Mikes operates casual steakhouse restaurants primarily in western Canadian communities. Nurse Next Door is North America’s growing home care provider with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is a franchised supplemental education service. Stratus Building Solutions is a commercial cleaning service franchise company providing janitorial, building cleaning, and office cleaning services primarily in the United States. BarBurrito is a quick-service Mexican restaurant chain.

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Diversified Royalty Corp > Halted?

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Comment by nedstar71on Dec 21, 2022 11:23am

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Post# 35184676

RE:RE:RE:Halted?

JayBanks wrote:

Galove wrote: For this reason.

Diversified Royalty 5.25% debentures to be delisted

2022-12-06 20:34 ET - Miscellaneous

The Toronto Stock Exchange reports that Diversified Royalty Corp.'s 5.25 per cent convertible unsecured subordinated debentures will be halted at the open and delisted at the close on Dec. 20, 2022. According to the TSX, the company will redeem the debentures on Dec. 20, 2022, for $1,024.65 per $1,000 principal amount, representing $1,000 principal amount and $24.65 for accrued and unpaid interest thereon to, but excluding, the redemption date.

The TSX reports that the holders of the debentures have the option to convert their debentures into common shares of the company at any time before the close on Dec. 19, 2022, at $4.55 per share. This conversion price represents a conversion rate of approximately 219.7802 per $1,000 principal amount of debentures. Trades in the debentures on Dec. 16, 2022, and Dec. 19, 2022, will settle on Dec. 19, 2022.vvvvvvv

Dumb question time:

Why would someone want their Debentures converted to shares at 4.55 when the shares are trading in the 2.90-3.10 range? Wouldn't you accept the cash owed and then if you wanted purchase the shares on the open market?