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 > AGM Bucket List

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Post by longrun86on Apr 20, 2023 6:40pm

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Post# 35406294

AGM Bucket List

Hi Folks

With the AGM next week I was thinking of what my "wish list" would be to come from Management.

Market Update: It would be good to get a sense of the market and guidance for the year by segment. The company has talked about being in "Harvest" mode but it would be good to see the scale of what that really means.
US Community Development Assets: It would be great to get a sense as to whether or not this will be the year that we see a major move within the US land development (paper lots or developed). Perhaps there is a bigger discussion to be had as to whether or not there is additional value in the US properties that could be recognized by selling them rather than holding for cash flow.
NCIB: I would like them to confirm that they will be renewing the NCIB. Last year they bought the maximum and at the current price they should do the same again!
Capital Allocation: It would be great to get a sense of what the capital allocation framework is going forward (Dividends, NCIB, and internal re-investment by category).
REIT: The REIT may be a stranded investment vehicle. I would like to get a better sense from Management (and the commenters on this board) as to why it makes sense to keep the REIT going rather than just absorbing it into Melcor and buying out the public shareholders.

Best of luck,

LR

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