Strategic Plan to Reduce the Discount to Net Asset ValueSee Press Release at the following link for details
https://stockhouse.com/news/press-releases/2019/04/23/dream-hard-asset-alternatives-trust-provides-further-details-on-its-strategic
Here is an extract of the most impotant part of buyback. Overall great news for reducing discount to NAV.
As part of its strategic plan announced on February 20, 2019 to enhance unitholder value, management and the Board confirm that the units of the Trust are an attractive investment opportunity and are committed to deploy up to $100 million towards its unit buyback program (representing just under 20% of current market capitalization). Providing further clarity on the execution and timing of the unit buyback program, the Trust now intends to make three offers to unitholders in accordance with applicable securities laws, the first of which is expected to be made on or about July 15, 2019 for approximately 4 million units at an offer price of $8.00 per unit and two subsequent offers will be made in 2020 for $30 to $35 million of units at prices of at least $8.25 and $8.50, respectively, for a total buyback of $100 million of units prior to the end of 2020. These buybacks compare to the closing price of the units on the TSX of $7.17, as of April 18, 2019. The exact number of units that the Trust offers to purchase and the timing of such purchases will be determined by the Trust at the time of launching such offers subject to the receipt of the expected proceeds from capital recycling and the trustees’ obligation to act in the best interests of unitholders. The Trust has been advised that Dream Asset Management Corporation, the Trust’s asset manager and an 18.6% unitholder does not intend to tender any units to such offers.
Read more at https://stockhouse.com/news/press-releases/2019/04/23/dream-hard-asset-alternatives-trust-provides-further-details-on-its-strategic#dulMEGlhsS48D4gk.99