TSX:SOT.DB - Post by User
Post by
CanSiamCypon May 13, 2022 6:46pm
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Post# 34683214
Clue #2
Clue #2In the BMO analyst's flash update on the results release, the following detail was included:
G2S2 Capital Inc. now owns 10.1% of SOT.UN. On May 10, G2S2 Capital (though a subsidiary), owned by George Armoyan, triggered the threshold for public disclosure through the purchase of $1.2M of Slate Office units (238,900 units at an average price of $4.90), effectively increasing its position in the REIT from 9.8% of units outstanding to 10.1%.
This suggest that there is possibly an activist investor accumulating units in SOT.un and breathing down the necks of the Welch Brothers!
As we all know, SLAM could have unlocked much, much more value for investors by allocating free cash flow to buying back units - available at a significant discount to NAV. But there is no money for SLAM in that ... they only get rich by constant acquisitions .... and by issuing new units below NAV to acquire new assets is definitely dilutive to existing unitholder value.
So we are sufficiently p'd off with the Welch Brothers and have shown it by our votes ... and G2S2 Capital must smell blood in the water. Watch out for the sharks you Welch Brothers!
Cheers to all investors in SOT.un!