Melcor Developments Ltd T.MRD

Alternate Symbol(s): MODVF

Real Estate Real Estate - General

Melcor Developments Ltd. is a diversified real estate development and asset management company The Company develops and manages mixed-use residential communities, business and industrial parks, office buildings, retail commercial centers, and golf courses. The Company operates in four segments: Land, Properties, REIT, and Golf. The Land segment is responsible for purchasing and developing land to be sold as residential, industrial and commercial lots. The Properties segment owns approximately 24 leasable commercial, retail and residential properties and other rental income producing assets, such as parking lots and land leases. The REIT segment owns approximately 38 leasable commercial and retail properties and other rental income producing assets, such as residential property, parking lots and land leases. The Golf segment owns and manages three 18-hole golf course operations (one of which is 60% owned) and has a 50% ownership interest in one 18-hole golf course.

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Melcor Developments Ltd > NCIB Results

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Comment by babybunnyon Sep 21, 2022 8:48pm

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Post# 34977971

RE:RE:RE:NCIB Results

Retiring 1.5% of outstanding shares at a 2/3 discount off book value results in a delicious 1% boost to book value per share. All shares get the boost when shares are repurchased, not just the publicly-held shares (this is why the Meltons ought to be salivating at the opportunity to repurchase shares so cheaply). Float is not relevant to this calculus.

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