Ravelin Properties REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.RPR.DB

Ok so it's one step at a time

[Tree2tree]

Now we understand that the new regime doesn't get full control until the Leeches are totally out of the picture.  So that handover has been accelerated to January 1, which is very positive news.  And it only cost $2 million (which they would have had to pay anyway, but slower).  Now it means we have to wait until January for the new management to make its big moves.  This is not going down the tubes.
 
"There is no change in the capitalization of the REIT in connection with the change of name and trading symbol."

[Tree2tree]

Well the common share buyers are seeing the news as positive.

[HRc60to65]

The pr doesn't speak about recapitalisation. the REIT also announced today that it will change its name to "Ravelin Properties REIT" The delisting is not on the cards with the new name

[Tree2tree]

HR je suis d'accord.  They would not be farting around with a name change if delisting were imminent.  I believe they have a plan to turn the company around, and it will start unfolding as soon as the new ceo takes over in January.  First of all, they want it to be clear that the company no longer has anything to do with Slate.

[wildrunner11]

First, solid step of many needed to get on right path. Still many problems to overcome.  well that means Q4 will have an extra $2M expense.  We should hear something in the first few weeks of the new year of a plan going forward. If not, this will likely keep sinking. 

[HRc60to65]

The 2M$ will be in pre-paid expenses.  I do not think interest on the debenture will be paid Dec 31.  The default is not cured. Also we have more cash in hands that we need.  The last november sale of 50M$ bring some cash "Slate Office REIT owned a 75 per cent share of Woodbine Corporate Centre and received $39 million for the property, according to information released

[wildrunner11]

No, not a prepaid expense. It is an early termination fee with the new effective termination being Dec 31, 2024. So the expense should be booked in Q4.