Bullboard - Stock Discussion Forum True North Commercial REIT T.TNT.UN

Alternate Symbol(s): TUERF

True North Commercial Real Estate Investment Trust (the REIT) is a Canada-based unincorporated, open-ended real estate investment trust. The REIT is primarily focused on creating value for unitholders through the investment in and ownership of commercial properties in Canada. The REIT’s primary objective is to maximize total returns to its unitholders. Its returns include a stable, reliable... see more

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True North Commercial REIT > CEO should be in jail

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Post by SIGG1 on Sep 29, 2023 8:16am

CEO should be in jail

FOR MISLEADING INVESTORS REGARDING THEIR FAKE NCIB

On April 12th 2023, when this announcement was made, stock was trading at $3.40.
Now trading at $2.10, falling like a knife and no shares are being bought by the company.
This was just a setup in an attempt to mislead investors.

Normal Course Issuer Bid

The REIT and its board of trustees (" Board of Trustees ") have authorized a NCIB for its Units, subject to the approval by the TSX. The REIT believes that its Units trade in a price range which does not adequately reflect the value of such Units in relation to the business of the REIT and its future business prospects. As a result, depending upon future price movements and other factors, the REIT considers its outstanding Units may represent an attractive investment for itself. Therefore, from time to time, the purchase of Units at certain market prices below its net asset value presents an attractive use of the REIT's funds that should afford additional value and liquidity for the issued and outstanding Units while benefitting Unitholders by increasing their proportionate equity interest in the REIT. Decisions regarding the timing of purchases under the NCIB will be determined by management of the REIT based on market conditions, Unit price and other factors.

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Comment by flamingogold on Sep 29, 2023 9:26am

It's all in black and white there... "Decisions regarding the timing of purchases under the NCIB will be determined by management of the REIT based on market conditions" September has been a brutal month. They want to buy at lows just like us. Had they continued buying shares they would all be under water now. Perhaps they are making a wise choice to wait for improving market ...more

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Comment by EstevanOutsider on Sep 29, 2023 7:06pm

Drimmer added a few million dollars worth of units this year after cutting distribution. He has alot of skin in the game here. Liquidity must be preserved in the near term. Once they get more direction on rates and this upcoming leasing clarity I suspect they may get more aggressive buying back.

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