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

Slate Office

[pennydredful]

could  take    " a page  out  of the book "  of    Investique   that  announced  a capital  re-organization  something  I  suggested  some  time  ago.

[Tree2tree]

Can you explain a little what your suggested "capital re-organization" would look like in this case?  Because if it makes winners and losers, then not everybody would be happy.  In any case, I believe such a restructuring will not be necessary for SOT to continue as a going concern.

[rad10]

Try educating yourself.  Look at yellow pages and other countless examples.  There's good money to be made with reorgs.  The big question is how inflated are the assets.  

[rad10]

  it's coming penny. According to my napkin, the units are toast. There may be some value in the debentures but remember they're unsecured and there's a long line of secured creditors.  Deb's are by no means a SLAM dunk. Apologies for the lame pun.

[pennylane101]

Rad,  If the units are toast, the markets would have hammered this stock and the unit price would have reflected that sentiment i.e., the units would be trading at under 10 cents or even a penny.   It may still happen as the delisting deadline approaches, but highly unlikely. There is more to this company than meets the eye.  Do I believe this will be a turn-around story? 

[rad10]

People like tree2tree look at the NAV and think they are getting a bargain. The external manager has lumped a bunch of crappy assets all together with a <80% occupancy.  It's clear SLAM is very active, just not with the office REIT. There is some confusion as to what was actually said during the Q1 conference call. I personally thought their sales were realizing 30% of net asset

[HRc60to65]

Robert Armstrong, Interim Chief Financial Officer Relative to IFRS, the sales are decently inside, probably on average 30%, 40%, below just given where the market is. I think some of those decisions we made and the Board made in order to dispose of those are for realizing proceeds to repay debt, which we have done. As part of your first question, as it relates to debt, all the net proceeds have

[rad10]

I didn't hear "below" in the last sentence.  If they are selling at 30% of IFRS - kiss those debs goodbye.  Fingers crossed.

[rad10]

exactly - it's word salad.  "In some cases 30% is a good number". I did not hear the "below" as typed in the transcript.  Does this imply the majority of sales are greater than 30% discount, or are some sales occurring at a 70% discount?  I don't know - and respectfully nor do you. The lack of commentary thereafter isn't at all troubling........

[Tree2tree]

That statement about sales 'below' IFRS was about past sales, I understand.  Since then, no sales have been announced.  A few months ago, it was looking like some desperation sales could be imminent, but it hasn't happened so far.  I try not to be a blind optimist, but here is my logic.  Any major negative event for SOT, as well as any major sale would have to be

[HRc60to65]

Properties intrt vendu prix vente prix/sqft date vente occupency GLA location 84-86 Chain Lake 100% 10 400 000 $ 133,6 $ mai-24 75,23 77 820 Halifax, NS Walmart Flin Flon 100% 4 000 000 $ 63,1 $ mai-24 100,00 63

[HRc60to65]

Properties intrt vendu prix vente   prix/sqft date vente occupency GLA location 84-86 Chain Lake 100% 10 400 000 $   133,6 $ mai-24 75,23 77 820 Halifax, NS Walmart Flin Flon 100% 4 000 000 $   63

[HRc60to65]

We can understand why the 570 Queen Street was sold at 30% to 40% discount when occupency is 49% and located in Fredericton

[Tree2tree]

Remember also, in the last quarter report, they did a further write-down of book values, based on external appraisals and also based on ACTUAL SALES.

[ABDPhil]

At $35, it's probably a good time to clean out your wallet. No point hoping for more.

[Tree2tree]

Just for entertainment's sake, let me explain why that bizarre poster has turned up randomly on this board.  He thinks I have caused him to lose money on the only stock he could ever love, and he spends his time trying to get revenge.

[rad10]

  dunno who he is referring too, but sounds like unhealthy grandiose narcissism to me...... Couldn't care less what a naive poster has to say about a REIT that is in trouble..... Attacking posters that have historically done well with reorgs at yellow media, and concordia amongst others is laughable.....  the key is to get as high up the capital tree food chain as possible

[pennydredful]

Rad-10   .  Hope  you realize  all  the recent  posters  on  here  are  John Plow   trolls.  who  posts  under  many handles.   He lost   all  his money  in  the market  a few  yeara  ago .IMO 

[pennylane101]

Oh God, please no! Not a conspiracy poster on this board too.   Who is John Blow?

[Tree2tree]

So now all the zoo animals are coming to this board.  Could there be a reason?

[pennylane101]

It is beginning to get weird.  We're supposed to be "handles" or "trolls" for some Joe Blow dude.  Stay strong and don't let go of your debs.