KGIC Inc LGLTF

Loy Spin Off Feb 15 News Release

[trac3]

It certainly appears LOY will be doing a spin off & a new financing for the proposed REIT Company

After a year-long pilot program we’ve grown our housing business into a small but profitable revenue-generating operation. Of far greater importance, we’ve learned how best to grow it substantially and rapidly, and to that end we feel it necessary to spin it off and raise capital separately. Our recent acquisitions of two overseas agencies will allow us not only to significantly grow our education business but also our housing subsidiary", said Chief Executive Officer Andrew Ryu.

https://www.loyalistgroup.com/news/news_view

Will have to check further if they cuurrently own any studenT housing properties

[StompinTom]

I read through the Q3 MD&A and I believe they had something like 124 beds that they owned at that point.  This was before the 2 Korean school purchases though so obviously they did well in the test and sawa the real estate as additional value added.  Still doing lots of things right on the business front.

[fishbeecee]

Thanks Stompin Tom, I thought I had heard that they already had some property but must of missed it while reading Doc's filed at SEDAR. Thanks to Trac3 as well. I enjoy these boards when the conversation is intelligent and fact based as opposed to the laughable responses that so often plague these boards. If you do get in touch with them re Financing the REIT I would love to hear what you find