TSXV:LRT.UN - Post by User
Post by
alkhoron Feb 11, 2022 10:25am
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Post# 34420021
8 Hours to the Next Postponement
8 Hours to the Next PostponementI am becoming convinced tha postponements of the meeting is because a major debenture holder wants the debt into units proposal be applied to the Shelter loan as well.
As is with the current proposal Debenture holders would end up owning 98.6% of the REIT. If the same deal was offered to Shelter later on, Shelter would end up owning 99% with the debenture holder having the remaining 1%, current unitholder ownwership would be reduced to almost nothing.
If both the shelter loan and debenture holders are converted at the same time, the debenture holders would own 20% of the REIT and Shelter 80%, current unitholders would end up with much less than 1%.
If you were Shelter, who also are involved in the management of the REIT, which way would you want it to go?.