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Lanesborough Real Estate Investment Trust V.LRT.UN

Lanesborough Real Estate Investment Trust is a Canada-based real estate investment trust. The investment properties of the Company are separated into three operating segments: Fort McMurray Properties, Other Investment Properties, and Held for Sale and/or Sold Properties. Fort McMurray Properties includes eight properties. Other Investment Properties include two properties. Held for Sale and/or Sold Properties includes sold properties: five properties. The property portfolio of the Company consists of approximately 11 rental properties, encompassing 10 multi-unit residential properties, including the unsold condominium units at Lakewood Townhome.


TSXV:LRT.UN - Post by User

Post by quicksilver545on Jul 20, 2022 2:05pm
96 Views
Post# 34837832

Response from Manitoba Securities

Response from Manitoba SecuritiesJust received a response. Essentially because they are a "venture issuer", there are no requirements that a venture issuer has to disclose the results of a vote. They "voluntarily" released the results of the consolidation, but were not required to do so.

As for the vote for the board, they are not required to disclose these results, even though they have every other vote, only because they received majority support. 

So I suspect they are just not going to publish the results because the majority of unitholders withdrew support from the board. Yet the same board will operate without modification or resignation, even though the majority of unitholders want them gone.

What a complete farce... Honestly the venture is a joke. 
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