Melcor Developments Ltd T.MRD

Alternate Symbol(s): MODVF

Melcor Developments Ltd. is a diversified real estate development and asset management company The Company develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. The Company operates in four segments: Land, Properties, REIT, and Golf. The Land segment is responsible for purchasing and developing land to be sold as residential, industrial and commercial lots. The Properties segment owns approximately 24 leasable commercial, retail and residential properties and other rental income producing assets, such as parking lots and land leases. The REIT segment owns approximately 38 leasable commercial and retail properties and other rental income producing assets, such as residential property, parking lots and land leases. The Golf segment owns and manages three 18-hole golf course operations (one of which is 60% owned) and has a 50% ownership interest in one 18-hole golf course.

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Melcor Developments Ltd > Tim Melton Share Accumulation & Other Thoughts

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Comment by babybunnyon Jan 19, 2023 9:25pm

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Post# 35234687

RE:RE:RE:Tim Melton Share Accumulation & Other Thoughts

Last year is the first time Melcor made significant use of the NCIB. I hope it is a harbinger of aggressive repurchases in the coming years, but I would not count on it. Most years in the past, new share issuance (via employee options) has exceeded the number of shares repurchased.

I will be watching - like a shithawk - later this year when the NCIB becomes available once again. I am afraid the share price may suddenly pop into the twenties before the new window opens. This is why a SIB undertaken right now is such an excellent idea: it allows us to take full advantage of the absurdly low share price.

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