TSX:SOT.DB - Post by User
Comment by
Northforce13on Sep 25, 2024 3:38pm
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Post# 36240873
RE:RE:RE:> 40 soon?
RE:RE:RE:> 40 soon?"The IFRS asset value on several of these properties is inflated."
NOI/IFRS of SOT vs peer group, post recent writedowns, SOT IFRS is cheapest amongst peer group
"The LTV is considerably higher than acknowledged."
If prior statement is accurate and peer group average IFRS were applied to SOT properties, LTV would be considerably lower than stated as opposed to higher
"The special resolution in January TEMPORARILY removed a leverage restriction until December 2025. They were maxed out."
Presumably they could extend if needed
"The debentures are unsecured. The good news - team Armoyan who voted for the special resolution owns a lot of them and they are horribly underwater. "
GA owns mainly units, perhaps having paid 50 mil +/-, much more than the $ debentures owned. This would seem to indicate that a conversion of debentures to units would not be an outcome desirable to him due to dilutive effects.