LIQUOR STORES NA LTD 4.70 PCT DEBS T.LIQ.DB.B

Level 2 RT/ Dilution

[buyvalue1]

dyod

Do you think they will do a share offering at these prices?? (speculation)

imho, I can't see how they can be both a high yeild Co and Growth Co with the US and CDN economic headwind's.

A share offering is going to dilutue you. Do the math over Q!/2016.

calculate the dividend on shares outstanding
(approx. 27 mil shares outstanding and divy is $0.09/month)

Divide that number by say $7 (current mkt price). That how much of the pie you have to give up.

To grow, do you want to give up pie or retain cash and a health balance sheet.

IF. MGMT is in lockdown, some sort of finacing/ re-org is in play ( funds could be use for operations or pay down debt and maybe/or a buy out of a peer) 

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Market By Order

Bids
Time of Order	Broker Name	Size	Price
11:06:23	National Bank Financial Inc.	500	6.99
11:06:23	CIBC World Markets Inc.	100	6.99
11:07:08	Goldman Sachs Canada Inc.	100	6.99
11:07:08	CIBC World Markets Inc.	100	6.99
10:55:12	National Bank Financial Inc.	1,400	6.98
11:05:56	Anonymous	100	6.98
11:06:17	BMO Nesbitt Burns Inc.	500	6.98
10:52:35	CIBC World Markets Inc.	200	6.97
10:53:24	Cormark Securities Inc./V...	500	6.97
11:02:02	Scotia Capital Inc.	200	6.97
11:05:54	Merrill Lynch Canada Inc.	300	6.97
10:51:12	CIBC World Markets Inc.	100	6.96
10:30:42	RBC Capital Markets	1,000	6.95
11:03:18	Merrill Lynch Canada Inc.	600	6.93

Asks
Price	Size	Broker Name	Time of Order
7.01	200	CIBC World Markets Inc.	11:05:58
7.01	100	Credit Suisse Securities ...	11:06:11
7.02	100	Anonymous	11:05:56
7.03	100	Anonymous	11:05:56
7.03	100	Merrill Lynch Canada Inc.	11:05:58
7.03	300	Merrill Lynch Canada Inc.	11:06:05
7.04	100	CIBC World Markets Inc.	11:05:56
7.05	200	CIBC World Markets Inc.	10:56:18
7.07	100	CIBC World Markets Inc.	10:46:27

[mercatos]

Its possible they could do a share offering.   I would do a 2:1 stock split, reduce the dividend 50%.  This protects current share holders. Then go to market with a share offering but now you only need to pay a lower dividend on new shares issued I believe this is what they needed to do before.

[buyvalue1]

Hi mercatos dyod Assume: Current shares out standing approx 27 million ( on 2 for one spli, multiply by 2) Current annual div at 14% ( one a 2 for 1 split, dividee by 2) Current market price is $7 (one a 2 for 1 split , divde by 2) ............................... a 2 for 1 split is going to give you 54 million shares you have to pay 7% on with shares trading at $3.50 so  nothing

[mercatos]

They should do a share buy back.  Better returns than opening new stores. Just saying in frustration. They need to communicate something or this market will treat them like any other oil company. Old quote 'Greatest cause of failiure is the failure to communicate' Mercatos 

[constructionsite]

The sp reflects fundamental fear, rather than fundamentals of the business.  It's really all about the dividend imo.  The current payout is unsustainable, and with the stated aim of being a growth co, there is mounting pressure to free up this massive monthly cash outlay. Imo, the market might be anticipating a cut to one third the current payout (3Cents per share), which seems