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

Massive write downs coming

[pennydredful]

now  that  SLAM   is gone new management can  put the  blame  on them. This   will   soften  the unit   holder  base   for   the needed   capital   re-org    whereby   all  bonds  will  convert  to  units   and  existing   unit   holders   will   get  a   pittance  .   All   IMO

[toddkaz]

GA has millions invested here.  You think he is going to destroy his value in the company?  I don't think so.

[HRc60to65]

As at the date of this Annual Information Form, G2S2 (through its wholly-owned subsidiary, Armco Alberta Inc.), a corporation controlled by George Armoyan and Sim Armoyan, holds the following securities of the REIT:   (a) 15,110,200 Units, representing approximately 17.71% of the outstanding Units on a non-diluted basis but including the outstanding Class B LP Units;   (b) $1,897

[toddkaz]

Imagine trading debentures for shares...George Armoyan will lose millions.

[HRc60to65]

GA had paid over 4$ per units  X 15,110,200 Units = 60 440 800$

[Tree2tree]

1.  Massive write downs have already happened.  We may be done with write downs, or nearly so.   2.  Welches were there to bleed the company dry with management fees, not with smart investing.  Now they are gone.   3.  GA's interest is to revive the value of his investment, and he is now in a good position to make it happen.

[pennydredful]

In  addition  there  is likely  to  be  a capital  raise   as  part   of   the  re-org    which   all  can   participate   in    backed     by     GA     either   wholly  or to  a signicant   

[Tree2tree]

Agree, some sort of capital raise is likely.  That's why I am more confident in the debentures than the commons at the moment.  Of course this could change with new developments.

[toddkaz]

Slate Office needs tenants to survive.@ Capital raise is only going to draw things out.@ They need positive cashflow and to get that you need tenants in the empty buildings or sell the empty buildings.