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First Capital, Inc. (FCAP)

NasdaqCM - NasdaqCM Delayed Price. Currency in USD
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25.85-0.35 (-1.34%)
At close: 02:27PM EST
25.91 0.00 (0.00%)
After hours: 04:00PM EST
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  • Reuters

    Canada's Sandpiper Group asks to overhaul First Capital REIT board

    Canadian private equity firm Sandpiper Group on Monday announced it had launched a campaign to overhaul the board at First Capital Real Estate Investment Trust (REIT), nominating four new members after "long record of underperformance." Sandpiper, which owns 9% of the outstanding units of First Capital REIT, said it was requisitioning a special meeting of unitholders no later than March 1. Sandpiper, which has been investing in First Capital REIT prior to the global COVID-19 pandemic, said the company's management and board have continued to pursue a flawed disposition strategy and been "combative" towards unitholders.