Parent Capital Corp V.PAR.H

Alternate Symbol(s): V.PAR.UN | PTSRF

Parent Capital Corp. is a Canada-based junior resource company. The Company is engaged in the evaluation, acquisition, exploration and development of international resource properties. The Company is inactive and is engaged in seeking an asset to acquire. The Company does not own any resource properties.

TSXV:PAR.H - Post by User

Parent Capital Corp

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Comment by ghayeson Oct 21, 2013 1:27pm

250 Views

Post# 21833998

RE:One Final thought, for Monday morning!!!!!!!!!!!!

very interesting PAR response to the League situation.

They said "As previously announced, the REIT is in the process of internalizing management and as a result believes that if the Manager is unable or unwilling to perform its obligations under the Management Agreement, that the REIT will be able to employ many of the individuals currently working for the Manager on the business of Partners, would have access to all records and be able to carry on normal operations"

Presumably they would just pay the salaries of these reit managing individuals without the huge markup and chargeback costs per hour that IGW bills them out at. Should save a fortune. A situation we would have been in if the "blue" vote won in the summer.

.They also said " The Order, if granted, would prohibit the termination of any agreements with the Manager without the consent of the petitioners and PricewaterhouseCoopers Inc., who is proposed as the court appointed Monitor, or unless leave of the court is obtained." Can someone explain this - why shouldn't PAR be free to go where they like for REIT management services?

They also said "The REIT also announces that a special committee comprised of the independent trustees of the Trust, and chaired by James Bullock, has been appointed. " - hardly "independent" they were all IGW backed nominees....
They also said that the special committee will be considering "the purchase by others of some or all of the outstanding Units of the Trust, including by existing major shareholders, the issuance of Units of the Trust from treasury to others in exchange for either cash or non-cash consideration"
This seems to indicate that IGW might divest itself of it 14.5% holding of PAR shares. Great it the leech is removed eh? Perhaps the rest of the shareholders will then remove the IGW lickspittle toadies from board.. Maybe the "blue" slate members will be back ?
I see the price has dropped back to $6 today, mainly on the uncertainty
Any other thoughts anyone ?.