Lanesborough Real Estate Investment Trust V.LRT.UN

RE:8 Hours to the Next Postponement

[alkhor]

As I wrote a few weeks ago, the debentures holders now own 98.6% of the units. I'm  convinced the REIT management, who also have the $100MM loan will do the the exact same thing to get rid of this loan as they did to the debentures holders. First they will do a 100 to 1 consolidation, then pay off the loan with units at 5 cents each. Result, the management/Shelter will own 99% of the REIT. They can then buy out the remaining units for the price of a couple of Happy meals. Winners, those in control.

alkhor wrote: I am becoming convinced that
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?.