RE:RE:Dividend Paymnet on May 31, 2016Yes I do.
And now PRL has another $1 million from early settlement of the promissory note of $ 5.1 MILLION DUE FROM Park Lawn Corporation (PLC)..
For the remaining $4.1 million PRL wil get income trust Units of Park LawnCorporation estimated to be worth from $3.1 million tto $3.9 million. Deal finaizes on or before September 16, 2016.
PRL has agreed to the terms . So all this money owing will be available shortly . The debt renewal would havve been at an interest rate of about 2.25 % andnow PRL will get monthly distribution of abou 3 %. per annum.
My understanding is that the $1 million has aready been received by PRL..
The trust Uits of PLC cannot be sold for SIX months.
And the remaing $5 million from Mattamy Homes is now due in less than 2 1/2 years !
So wat will Frank Mills do with all that cash ???
He did give all the shareholders of PRL 50 Cents a share out of the about $3 million PRL has recived from Mattaamy from the 3 Acre deal.
NOTE: Still no statement about rezoning of the land for 26 hgh price town houses.
I THINK MATTAAMY IS GOING FOR A HIGHER DENSITY - MAYBE A 3 STORY CONDOMINIUM APPARTMENT. (Just my opinion)
If so PRL's share of the final profit should be greater than with town houses.
What an amazing jouney withPRL since about October, 1980.