TSX:AX.PR.E - Post by User
Comment by
EstevanOutsideron Aug 16, 2023 10:14pm
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Post# 35592185
RE:RE:RE:RE:Consistent write downs in NAV
RE:RE:RE:RE:Consistent write downs in NAV My intereptation was the same as Snakeyboys, that Artis plans to deal with additional asset sales based on the outcome of the stategic review commitee. They made clear they had "inbound inquiries" of assets Artis did not have listed for sale but do not want to act on them as they have a predefined list. Also noted they do not want to encumber assets to leave full flexibility for asset sales pending the strategic review commitees work. It really sounded to me they had a plan based on the conference call.
Guess we'll find out soon. I added more after the call. You don't have to be a CFA to breakdown how Artis is easily worth over $10 a unit in a firesale of a potential liquidiation. Obviously I dont think Manji is willing to liquidate that low but it's not a bad "worst case" scenario for those who believe he can.
Frankie10 wrote: I was just about to say - if they don't sell more assets, that $250 will be drawn from the credit facilities. I hope you are correct sir that more assets will be sold to cover the repayment and credit facilities can remain where they are or lower (wishful thinking). As it stands, there isn't enough assets held for sale to cover the debenture repayment. And Artis dosnt put assets sold but not closed in assets held for sale... they put assets they WANT to sell in assets for sale.
can't stress enough - my least favourite part of Q2 earnings was that they literally made ZERO progress on asset sales after the huge PR - made me want to puke i was so disgusted.