Lanesborough Real Estate Investment Trust V.LRT.UN

best decision we could have made

[BobTheKnob2]

Here we are six months after the SGM when if we followed the genius minds at the helm we could have consolidated the shares 500 old for one new. 

What did shareholders decide to do? Vote that nonsense down.

What has happened since that time?

Year to date the TSX real estate composite index is down around 25%. We all know what happens when a share does a reverse split without any compelling story to share price up - it reverts to the mean.

What has LRT.un done since the debenture holders got the shaft and had to take shares in exchange at a 1000% premium to the trading price?
 

Share price consolidated back to the mean and has stayed unchanged since then.

That is a win, in this market. That is a win!!

[quicksilver545]

I wouldn't call the situation we are in a win, Bob. We haven't decreased in price because there's literally no way for us to go down in price. The minimum bid price is .005, and we haven't ever had an active bid/ask spread since the massive dilution from the debentures. The true price that the market supports is likely way less than the minimum bid price.  we have zero

[BobTheKnob2]

You absolutly nailed it Quick. Mine is as optimistic take on the situation as is possible. If there is any consolation it is that the properties are located in a city where the economic situtation is probably the best in the country.  You are absolutely correct - management is the problem. They need to go. But they keep hanging around like a bad smell. We can't even vote them off the

[Lllennn]

Has to RS to find bottom cause .05 is $130 db, which is no where near that imo

[Tslayer]

Thoughts on latest financials reported last night?

[quicksilver545]

Well the market was clearly blown away.... *insert sarcasm* I reviewed things and i'm slightly more optimistic that this company could survive. Glad they actually had some positive fair value adjustments for once.  However, i really dont know where we go from here. Absolutely no one cares about this stock, there's no coverage, and no volume. So either we get bought out at some point

[BobTheKnob2]

I won't be ignoring that decision to give the finger to every single shareholder either Quick. Every AGM moving forward, I will once again vote against every single one of this management's proposals - unless it either benefits all shareholders; or the voting proposal is to sell the company (which should benefit all shareholders). I have a significant enough position that my vote will be

[BobTheKnob2]

My simplified message to management if they read my last post is - SELL THE COMPANY OR GET OFF THE POT

[Tslayer]

Ok.Thanks for the input. Let this board know the next time a vote is required. 

[Lllennn]

Remember when a ton of shares sold for .05? It was like 35 million, I thought these buyers are just crazy $130 fo db that was trading at $2 just crazy imo. And how does company get off the ground with the amount of debt? Never going to happen, people running company are just taking salary for as long as they can, any body would, it's either get salary or get nothing plus they get interest on

[quicksilver545]

Totally agree Bob. I also hold a very large position in this company now.  Can you think of any other ways we can apply some additinoal pressure to force a sale, or at least have shareholder interests taken into account?

[BobTheKnob2]

We can always propose an alternate slate for the AGM. There is a big problem there - it won't matter if an alternate is proposed, because they can do whatever they want, because of entrenched management and the bylaws governing the trust. The really big problem is Arni. He owns Shelter and Manitoba (numbered co), Because of that, and the close association between the companies, he is