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To conduct an orderly realisation of its assets, to be effected in a manner that seeks to achieve a balance between maximising the value of the investments and progressively returning cash to Shareholders.
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Why such a big spread on these,1.8%. EDIN. is only 0.31%?
Now trading at a discount to NAV of over 20%. Close to its low for the year. Is this now the time to dive in again as returns tend to be very good both in divi and tender offers. I see they took a big hit on one investment of nearly £3million but overall looks sound?? Any thoughts
'cos I bought some!
been moving down recently. Anyone know why?
dont you just love this share 16.5 p divi and a tender of 5.2 mill at £4.75 fill your boots with your new isa allowances
to be returned to shareholders we love DNE
thanks Bev thats my research for the weekend enjoy yours dont do nothing i wouldn't do
IN INVESTMENT TRUSTS-Hansa, BTEM,and Graphite Mountview and Daejan are primarily London residential property companies expertly managed at a massive discount to asset value with good divs ad low borrowings.
level-headed person good to hear!! patients is not one of my best virtues. What other co. do you see value in ??
I have been in for around 10 years and seen steady progress , but we each have different priorities so do your own thing. I'm a value investor and when I see solid assets at such a discount I tend to find they are realised if you are patient-I've been rewarded twice last year and this is the third distribution.
Looks like a steady rise from here, will be a bit twitchy arter the tender offer though this share is on no ones radar that i have talked to. You say your a long term holder how long??
I have no connection other than being a long standing shareholder and have attended several AGMs and met their management who impressed me and gave me confidence that they would prevail. This has been born out and my patience is being rewarded as so often happens if you have conviction.
them to me im in for 2500 shares il take the divi and hopefully they will soldier on to a nice 10 % profit. Do you work for them? if not you should be there pr machine
It depends on when the market decides to revalue the stock in the view of assets and record. My point is that when you have ten of the twelve major portfolio companies expecting to report increased profits, around a third of your remaining assets in cash or near cash, no borrowings and assets of over 550p you are in a position to distribute the assets back to shareholders as it accrues and let the market please itself.
from your post that you think this share is on its way to 475 ?? a nice profit to be had at these levels then
The reason for the generous price for the buy back is simply a means of reducing the silly discount the stock trades at. The management is focused on looking after loyal shareholders . Even at 475p they are pitched at over 15% discount to asset value. For some reason the market has been reluctant to value this excellent outfit sensibly so they are taking matters into their own hands.
is going places in the near future the buyback is priced at the very top of the range, makes you wonder why??
News of imminent buy back of £12.5 million of stock following recent asset sales means shareholders can sell a portion of their holdings to the management at 475p. Given assets are 541p a share it's a win-win situation. This has not gone unnoticed as all transactions so far today are buys.
The disconnect between performance and shareprice with this stock beggars belief. The fact that private equity is currently out of fashion is hardly enough to justify the fact that you can buy 535p worth of assets (much in cash with no borrowings) for around 360p is one thing.When you look at the quality of those diverse assets which are in all the areas you would want to be in-largely business to expanding business-with no retail exposure (eg healthcare,offshore wind power,specialist glass for prestigous building projects worldwide etc etc) it gets even more interesting. The assets are managed by a talented group of people at Dunedin who have been together for over 10 years and won the major award for' excellence in portfolio management ' by their peer panel in 2010. Having met the management they inspire confidence,and have the track record to justify it. I look forward to the time when the market rewards them by re-rating the stock to more sensible levels and intend to enjoy the ride.
Today's update revealing assets up to almost 500p a share with cash in the bank of £30 million, no borrowings and virtually all of the varied and solid investments performing satisfactorily, this share has gone under the radar for long enough. The management is class and the market seems at last to have realised that in these uncertain times value doesn't come much better than this.
Dunedin Enterprise, a fund astutely managed for 20 years by Ross Marshall, yesterday reported assets per share at 539p. The assets are roughly split equally between cash, a group of 14 growth companies in the UK ,( actively managed and controlled and all but two performing well , all with low gearing and not exposed to consumer markets), and the rest invested in European private equity funds ,which have high growth potential. You get all this for the current market price of around 380p, around 30% discount to cracking growing assets. Only a matter of time before they are re-rated or taken out.