My understanding is that regardless of the EGM outcome in terms of the URFPA->URF conversion, URFPA holders can not receive their $100 face value.
I believe that the only possible outcome now is a conversion to URF units (205 units maximum) - someone please correct me if I am wrong on this.
Therefore, it appears that KBC (and associates) will effectively be attempting to bleed their $100 face value out of the fund in the form of ongoing 8.75% interest payments before ultimately being converted to URF units anyway.
This places the entire fund at greater refinancing risk and forced selling of properties is not desirable here. Not to mention the greater risk of not having a suitable RE (terrible outcome for everyone).
Disclosure: previous holder of URFPA, current holder of URF, and will be voting NO to all EGM resolutions.
URF Price at posting:
27.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)