TSXV:LRT.UN - Post by User
Comment by
quicksilver545on Jan 31, 2023 8:18pm
71 Views
Post# 35258344
RE:RE:RE:Thoughts
RE:RE:RE:ThoughtsI see this as asset-stripping. Notice how there is no mention of any cash to the company, or anything that might benefit unitholders; just transfer of properties for whatever they deem is the value. And no commentary in the notice as to how this might benefit the company.
These two lines say it all:
"As LREIT is not listed on the Toronto Stock Exchange, in accordance with Section 5.5(b) of MI 61-101, the Transaction is exempt from the formal valuation requirements of MI 61-101. As LREIT is experiencing financial hardship, as defined in Section 5.5(g) of MI 61-101, LREIT is also exempt from the requirement to obtain approval of a majority of the minority unitholders of LREIT for the Transaction."
Ridiculous the complete neglect of unitholders.