Lanesborough Real Estate Investment Trust V.LRT.UN

RE:RE:RE:RE:RE:RE:8 Hours to the Next Postponement

[Cbcdistressed]

quicksilver545 wrote: I guess my question would be, if they wanted to by the units and take the company private, why woudn't they have done that before, when the market cap was around 400,000? I suppose I can answer my own question by saying that they wanted to extinguish the debenture debt first, so they didn't have to worry about it.

Now with the market cap around 3.3M, they could easily make an offer for the company in the 0.005-1 cent range, and not have to worry about paying back the debentures.The VWAP will definitely be around 0.05 as the volume spike monday dwarfs any other trading day in history by several million shares. 

Compared to their assets, they would be getting an absolute steal at these prices. I would probably vote no on any offer below 5 cents though. I think their assets are probably much closer to 200-300M, rather than what they show on most recent financials. 

I am also hoping for a positive fair value adjustment, based on the huge spike in oil prices and the trickle down effects to Fort Mcmurray. Crude hit $114 per barrel today. That's got to get some people in the oil patch excited. 

Food for thought.

probably won't get you 5 cents a share which would mean they had the money to fully reply debenture.... so.

I am happy for a 1 cent per share privatization deal