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

Delisting Imminent?

[TVR]

Monday is potentially the last day SOT.UN units will trade.  Since there has been no further extension of the delisting deadline it looks unlikely this will change on Monday.  I am unclear on whether the 24th December deadline is the last trading day or the first day of the delisting.  I presume, but do not know, this delisting will also apply to debenture trading.

Today's drop in selling price for SOT.UN, on a day when pretty much every other REIT is up, is probably people setting up their tax losses and documenting this with a sale prior to delisting day.

After Monday, or possibly Tuesday (exchange closes early) all  current unit holders and debenture holders could be locked-in until a restructuring is eventually approved, and potentially much longer if restructuring does not include a relisting of the units and debentures.

[pennylane101]

if this does go into CCAA or Bankruptcy, Armoyan stands to lose beaucoup d'argent. We all do.

[TVR]

The original delisting review notice in July specifically lists the SOT.UN units and all three debentures, so all will stop trading on the TSX at the 60 day extension from October 25.   The original delisting review was issued July 4 and gave 120 days to regain compliance with continued listing requirements. The 120 day deadline would have been November 3.  The 60 day extension was

[Northforce13]

Oct 25 + 60 = Dec 24  July 4 + 120 + 60 <> Dec 24

[TVR]

If the delisting extension applies from the end of the initial 120 day period rather than the date of the extension notice it could push the delisting date out to around Jan 3.  Since many of the days between Dec 24 and Jan 3 are holidays or weekends that would only add a few additional trading days before suspension with little action likely to happen over the Christmas/New Year holiday

[HRc60to65]

SOT.UN and debentures will be traded on Vancouver.  It is possible, on the SOT.UN will be trtansferred to Vancouver