TSX:SOT.DB - Post by User
Comment by
CanSiamCypon Nov 23, 2022 8:12pm
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Post# 35123699
RE:RBC Comments on External Management Structure
RE:RBC Comments on External Management StructureThanks for posting hawk!
While it was disappointing to read their assumption that "ditching" the SLAM external management contract would be difficult, I was particularly surprised with their overall assessment that the terms of said contract are generally in line with other similar external manager contractual arrangements. I have never before encountered a rational and comprehensive analysis of this by a disinterested third party. Neither do I have the ability to analyze the "in depth" criticisms of SLAM's fees that MARKOPOLIS shares on an almost daily basis with us. So who are we to believe then? RBC or MARKOPOLIS?
Putting that fundamental question aside, however, I still think that the Armoyan slate of independent trustees with a fresh approach should be supported by unit-holders .... given the dismal track record of SLAM's (mis)management of this REIT over the past years!
Also, I did not see anything in your post as to RBC's assessment of optimizing unit-holder value .... I mean for management to adopt the rational approach of unit buybacks versus continuous dilution of unit value (and generation of fees for SLAM) by buying new properties and issuing new units and/or debentures.
Cheers!