Liquor Stores Income Fund (LIQ.UN)

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lystgl
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Liquor Stores Income Fund (LIQ.UN)

Post by lystgl »

Distributable cash, cash available for distribution, cash from operations, free cash flow etc. aside, how do 188 liquor stores warrant a 470 million market cap? That's 2.5 million per store! This, to my mind, should be a no brainer in the "stay away from" dept.
Davis
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by Davis »

I'm surprised that there hasn't been more discussion here on this one, especially considering the Point North attempt to get six of its people elected to the 8-person board of directors against the wishes of the current management. And, of course, the decision by current management to pay brokers who succeed in getting shareholders to cast their votes in favour of the current management. Proxy votes are due tomorrow.
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AltaRed
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by AltaRed »

Am surprised too when I read that AND am really pissed that LIQ thinks it can 'bribe' brokers. I think ASC is going to rule on that today.

I have no skin in the game except I would like to see the Securities Commissions knock that one cold.
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Spudd
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by Spudd »

I own this one and they are engaging in a fierce proxy battle, that's for sure! I think I've gotten about 3-4 voting forms from each side of the fight. They're spending all my shareholder dollars on postage!
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AltaRed
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by AltaRed »

A couple of things released today.

http://news.morningstar.com/all/canada- ... cheme.aspx

http://www.bizjournals.com/prnewswire/p ... 6/14/C6074

Contrary to what I said earlier, there is nothing yet that I see where ASC is going to look at this today.
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Davis
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by Davis »

I got another set of forms from management by courier today. This is costing a lot.

If you haven't voted, voting by phone is quite easy: call the toll-free number on the form from the side you want to support (white for the current management, or blue for Point North "the opposition"), and follow the prompts. It is quite straightforward.

For my part, I think we've seen what the current management can do. I'm willing to let someone else take a crack at it.
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by Davis »

Another key point is that if you have already voted, you can still change your vote tomorrow. Just call the number on one of the forms.
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by milton »

Go Blue! Voted online with the control code, super fast. Too bad they don't come up with a something as simple for political elections!
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by Davis »

Point North won control, and the stock was up 4.3% yesterday.
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by Spudd »

And from their press release I learned that I used to work for one of the now-stepping-down directors! A brush with fame!
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by Bosliwanier »

to my mind, should be a no brainer in the "stay away from" dept.
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Re: Liquor Stores Income Fund (LIQ.UN)

Post by milton »

Vancouver-based Aurora Cannabis Inc. announced today that it will spend $103.5 million on a private placement in Liquor Stores N.A. Ltd.

This will give Aurora a 19.9 percent stake in the TSX-listed company that operates 231 retail liquor stores.
https://www.straight.com/cannabis/10284 ... stores-inc

Liquor Stores plans on using the cash to convert existing stores to cannabis retail outlets.
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