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 > NCIB Renewal

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Post by longrun86on Jun 05, 2023 9:51am

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Post# 35480181

NCIB Renewal

Hi folks,

It is nice to see the NCIB renewal being approved by the Board in the news release out out this morning.

Every share repurchased at these prices are highly accretive.

Ultimately though, the NCIB is only a small step to closing the valuation gap. In order for the market to really change its perception of Melcor, the company must improve its return on equity across its business divisions. Another plus would be to figure out once and for all what to do with the REIT and investment properties.

Let's hope Naomi has the mandate and the capability to execute on this over the coming years.

LR

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