RE:COOPER AND MANJI ARE PLAYING CHESSIt is certainly a possibility. I fear another form of chess could be a large sell from DAM which is then used to prop up MPCT, DRR, and DRM. MPCT has been a complete disaster for Dream and I would imagine it is downright embarrassing to them as a company which has invested so heavily in and continues to invest so heavily in impact investments. Dream Office sold the DIR units for the SIB however maybe DAM would like to repurchase some of its previous DIR exposure. We really have no clue. Sandpiper could sell their position in Dream Office and reinvest the proceeds in Artis. Sandpiper would still have considerable Dream Office exposure through their Artis investment. We were told that Artis would probably not need to sell other assets however we were told nothing about what Sandpiper might do.
SNAKEYBOY wrote: Cooper said at annual meeting "he is not playing chess and wants to return capital to unitholders"
But I believe the opposite.
They are playing chess. 12.5 million shares at 50% NAV is just the start. They want 20 million at under $20. That's when it gets interesting.
Privitization is inevitable not immediately but with the NCIB continuing etc and a few more assets/DIR sold. The SP will need to move up or the liquidable value from a few assets and DIR will mop it up entirely!
CHECKMATE COOPER!