Q: a number of questions related to the Slate family of companies.
1) What is the relationship to each other, and the purpose of the different Slate ticker symbols?
2) For SGR.un, are they impacted or could problems at SOT.un spill over to them?
3) For SGR.un their payout ratio is very high. i) have they shown forward finacials that imply this will come down? ii) if not do you have any data which suggests the dividend could be at risk? I am thinking of investing just for the dividend, and hope that the principal will simply hold where it is. Thanks
1) What is the relationship to each other, and the purpose of the different Slate ticker symbols?
2) For SGR.un, are they impacted or could problems at SOT.un spill over to them?
3) For SGR.un their payout ratio is very high. i) have they shown forward finacials that imply this will come down? ii) if not do you have any data which suggests the dividend could be at risk? I am thinking of investing just for the dividend, and hope that the principal will simply hold where it is. Thanks
Q: Hello,
I have follow up questions on your June 19 response to Scott. I am not a shareholder and not planning on becoming one - Just curious about the next steps following the defaults.
You mentioned the convertible holders may issue stock causing massive dilution. It is essentially a takeover to take control of the asset disposition process and negotiation with the 1st mortgagees.
Are debentures always convertibles?
I presume the 1st mortgagee for each property owned will also send their notice of default and ask for repayment / start the foreclosure process. Is that correct and do the convertible owners have any remedy to try protecting the remaining equity?
Just looking for your general comments to understand next steps. Thank you for your great service.
I have follow up questions on your June 19 response to Scott. I am not a shareholder and not planning on becoming one - Just curious about the next steps following the defaults.
You mentioned the convertible holders may issue stock causing massive dilution. It is essentially a takeover to take control of the asset disposition process and negotiation with the 1st mortgagees.
Are debentures always convertibles?
I presume the 1st mortgagee for each property owned will also send their notice of default and ask for repayment / start the foreclosure process. Is that correct and do the convertible owners have any remedy to try protecting the remaining equity?
Just looking for your general comments to understand next steps. Thank you for your great service.
Q: Looking at the balance sheet is this a bankruptcy ? The conv debt is trading at 30 cents on the dollar. What is the outlook and is there a play on a turnaround?