TSX:SOT.DB - Post by User
Post by
robbie88on Feb 07, 2021 3:23pm
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Post# 32496505
RUMOR: SOT.UN targeted
RUMOR: SOT.UN targeted Heard rumor that private real estate fund is targeting SOT.UN. Not very sure about this. Has anyone heard this or can anyone validate?
Current Slate owns around one million SOT.UN and just over 5 million class B shares, less than 10 percent of 73 million total shares. However, Slate is collecting 10 million dollars management fee plus $3 millions dividend.
The private fund wants to acccumulate 10M shares, for example at $5 at total cost $50M. Very likely shareholders will support the new management as SLATE doesn't care shareholders and very bad performance over the years. The return is $10 million management fee, $4 million dividend, plus salaries. Total return is 30% per year. The private fund would propose to sell underperforming assets, buy back shares and bring the occupancy up.
Looks promising to me.