OTCPK:PILBF - Post by User
Post by
seatleslimon Nov 02, 2017 9:55am
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Post# 26893446
Response is so lame it’s a positive
Response is so lame it’s a positiveThe elephant in the room is the dilution when you are selling at a third of published NAV and while you have bids or interest in major assets at or above NAV. The Saks flagship ship is the hottest asset and isn’t even part of the recent discusssion. It’s value net of the non-recourse mortgage is worth more than present market value. It is across from Rockefeller center with all sort of comp transactions. It would sell in a flash above NAV.
The company doesn’t even “need” wework’s money and could get that price on the L&t building without issuing shares.
A truly tortured response that doesn’t even touch on the core complaint with the transaction.