Lanesborough Real Estate Investment Trust V.LRT.UN

Vote against reverse split and management

[quicksilver545]

As Bob has said, reverse splits almost never end up returning value to shareholders. The management has shown a complete and utter disregard for shareholders here. My attempts to reach out to them have been completely ignored.

I strongly urge others to use their proxies and vote against the reverse split. It is an attempt minimize the sharecount so they can dilute existing shareholders and previous debentureholders on a capital raise. The proposed 500 to 1 spilit will mean there will be only 1 million shares or so trading.

Instead, let's pressure them into actually returning some kind of value to existing shareholders, whether that be a buyout, or other corporate action. Things are turning around in the oil patch, now is the time to hold their feet to the fire, so to speak.

VOTE NO.

I will be voting my 5+% shares against the proposal, and urge others to do so. (though I suspect they will manipulate the votes until they get the result they want)

[alkhor]

That is what I have been saying for months. I am surprised at a 500:1 consolidation as I thought a 10:1 would have been right and allow the units to trade, 100:1 would have been their long term goal of stealing the REIT, but 500:1 is total highway robbery. As you said, vote against the consolidation unless they change the commitment to 1:10 instead of the vague consolidation they have now (change

[quicksilver545]

Agreed. We must push back against this consolidation as at 500:1, we will likely get nothing from our investment. I wonder if we could also push a motion to see the results of the previous debenture vote, as they never revealed the actual results after multiple failed attempts. I still can't believe that ended up passing as we went from secured debt to this POS. Interesting about the board

[quicksilver545]

I calculated and have around 5.3% of outstanding units. I know there are some other larger holders on this board as well that may hold even more. Please message me privately if you would be interested in working together to protect unitholder interests/nominate others to the board.  In reviewing previous proxy voting results, the turnout of units varied from 8 to 26% of outstanding units

[Isyckle]

I did not recieve anything via mail regarding the vote.

[BobTheKnob2]

You will not receive anything for about a week or two, as long as you were a unitholder on the record date which was in May. I forget the date. They have to mail out the proxy, unless you elect to get your mailing through electronic means. The meeting is to take place on June 28. This means that the votes must be recorded by June 24th (the Friday). I have already received my voter information

[BobTheKnob2]

This to my mind is one of the most insulting comments they could have made. They insulted us by delaying the vote three or four times. Then they couldn't even provide the actual vote. By the time the vote occured, a VERY SIGNIFICANT percentage of the debentures had changed hands, but only those who had already sold their debentures were allowed to vote on the insulting offer. I am so done