Reitmans Ord Shs V.RET.A

Fund purchases

[TheCount11]

I would not be surprised if Fund ownership of Reitmans slowly increased. 

The board will face hostile Fund shareholders in June if they just keep rewarding management. 
I am unimpressed with board.  NCIB was a no brainer when stock traded for less than net current assets.

I owned Reitmans stock pre covid.  In year ending February 1, 2020 Revenues were $869M while operating loses were $51M.  The Company bought back 14,462,944 shares at a price of $3.00 per share and had a $ 0.15 per share dividend.  48,867,322 shares were outstanding.

Covid. Company goes into CCAA.  Stock stops trading.  Gets booted from TSX.  If creditors don't approve shareholders may get wiped out.  This seems to be lost on the board.  Did the board go out and buy stock with their own money?  How much?

Now there are 49,742,000 shares – diluted, no buyback and no dividend but a pissed off hedgefund who has already sent a wake up letter to the sleepy board.

[bucheroncapital]

Let the fun start - 

[Lllennn]

The $3 buy back was a get out before sinking for FFF who had basically bought in at that price or break even for FFF to get out imo. And FFF only jumped on board to hold RET hands as it was going down the slope. I don't see how hanging around at this valuation makes any sense. The decay with just inflation this is really trading at a $1 imo.. I was in a company a few years ago ATP and for