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.

TSX:MRD - Post by User

Melcor Developments Ltd > NCIB

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Comment by babybunnyon Dec 01, 2022 9:47pm

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Post# 35145177

RE:RE:RE:NCIB

This retirement of a second and third tranche is terrific news! I hope the company is offered further opportunities for block purchases.

I urge any large shareholders dissatisfied with Melcor's performance to contact the company to negotiate a block sale.

I would still like to see a SIB, allowing 10% of outstanding shares to be retired at one stroke (and repeated every year until only the most stubborn of shareholders are left on the register). But the buyback of 3% of outstanding shares in three months, at a little over 1/3 of book, is still nice.

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