Trez Capital Mortgage Investment Corporation Class A Shares T.TZZ

SHare Price Drop Explanations?

[Tealeaf1]

Now that the Wind Ups of this and the Sr have been approve, any feedback on why the dump.
I see volume was high yesterday

[Pandora]

Now that the wind up has been approved what does it really mean and where do we go from here? I see they elected the board for another term and voted in a rights plan -- all that sounds contrary to a wind up so I guess I don't really understand what's going on.

[Tealeaf1]

I guess we have to find out who sold a large block which would explain the droop. As for going forward, I somehow wonder about the Divs sustainability unless they start paying us out of Capital more and more. I can also see Trez buying back their own shares as announced in May, almost same as taking over the assets, which I would prefer frankly. Anyone dug that far yet?

[Pandora]

With my small holding I decided the possible loss of capital in a share price pullback would outweigh what I get in a dividend so I have put in the sell. If there was a little better vision of what is happening going forward I may have stuck around but I'll cap it here. Could be wrong -- who knows. Best of luck going forward. What's that old saying? A bird in the hand is worth two in the

[ArbProfit]

There's not much downside now that the wind-up has been approved.  Capital will be returned to shareholders as loans mature.  Check page 12 of the information circular for the loan maturity schedule. https://www.trezcapital.com/mortgage-investment-funds/trez-capital-mortgage-investment-corporation/tzz-downloads.aspx

[Pandora]

Well I guess today's announcement on the special dividend shows I made the wrong decision (again). Nice payout relatively speaking. Congrats to those that were smart enough to hold.

[ArbProfit]

The special distribution is for TZS, not TZZ.  It's also just a return of capital from matured mortgages, so the book value will be reduced equal to the distribution.  They will continue to return capital to shareholders as loans mature, to complete the "orderly wind up plan".  

[Pandora]

My apologies. Guess I have to pay more attention when I read. I saw the "Trez Capital" and never thought about the Senior part. Sorry if I misled anyone.

[takinstock]

The Return on Capital distribution is for TZZ. I just discovered it in my statement; a very pleasant surprise. Here's a link to the press release: https://www.newswire.ca/news-releases/trez-capital-mortgage-investment-corporation-announces-second-quarter-2017-results-640396723.html Here's the relevant section: "Subsequent to Q2, on July 20, 2017 the Board of Directors