RE:RE:RE:RE:RE:RE:Government is doing everything in MPCTs Favor. Links below. Instead of paying CASH to DAM for managing the assets, they issue units at full NAV ($24). Its their commitment to MPCT and a positive, not a negative. It would costs many millions in cash to pay a management team of DAM's level. Instead, we are getting their expertise at a fraction of the cost. Additionally they dripped their distribtuion instead of taking cash, which is over, as NOI will fully cover the distribution and no drip will be required. In 2024/2025/2026, the increase of shares will be much smaller, at 550,000 in 2024. The concern of MPCT float increasing and dilution is over, which also secures the future distribution reinstatement, and eliminates cash flow concerns. More details are in the Q1 2024 earnings release.
IMO, this shows the commitment of DRM in the success of MPCT.
Ogopogo26 wrote: Another question for you, did you see the increase in shares from issuing new shares to DAM? In 2023 we had an increase in outstanding shares of about 5%.