Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB.B

RE:RE:RE:RE:RE:An offer from GA

[rad10]

pennylane101 wrote: I found this online.  This is in the Indenture to one of Slate Office Reit's debentures.  The heading is "Change of Control"  

https://leede.ca/wp-content/uploads/slate-180119.pdf

Change of Control

Upon the occurrence of a Change of Control, the REIT will be required to make an offer in writing to purchase, in whole or in part, the Debentures then outstanding (the “Debenture Offer”), on a date (the “Offer Date”) which is not later than 30 days following the date upon which the REIT provides notice of the Change of Control to the Debenture Trustee as set out below, in accordance with the requirement of applicable Canadian securities laws, in lawful money of Canada at a price equal to 101% of the principal amount thereof (the “Offer Price”) plus accrued and unpaid interest up to, but excluding, the Offer Date.

 

yes that's the one......  lol

minor obstacle.  The debentures aren't worthless by any means.  A recapitalization will need to have debentures onside even though they are unsecured.  Rest assured there is an ad hoc committee of debenture holders somewhere laying out a deal for the residual equity.

No proposal will be made without consulting a working majority of holders.