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Isn't it great when your vote actually counted! A rare event. Well done all. Over to you Phoenix.
I think that may be ultimately a good thing. Once all the skeletons are out of the closet and the shareholders know where they stand, there should be less uncertainty and faith restored. Lets face it, Pheonix have a lot riding on this as a 30% stakeholder and I believe that £6.75 was their average purchase price. There are many potential things they can do to to get profit out of their investment and serve the long suffering Pheonix shareholders. Fundamentally, Dignity is a solid business but it has just ambled along in tired old ways. If anyone can turn this business around Pheonix can! I am interested to learn what the weekend press make of the company under new management. I am sure they will agree with me that it offers a bright new future and this will drive the price of the shares higher short term and much higher, medium to long term. With efficient and imaginative management value can be unlocked for sure!!!
The first thing the new boss will do is air dirty laudry from the old administration. Given that irregularities have been highlighted there may be some bad news before good here.
This is an excellent result, not just for the future of the company but for shareholder power! Its good to know that our views and opinions sometimes can weld some influence. This new chapter heralds a bright new future for the company and I am sure that Gary Channon will easily find willing and highly competent people to occupy the places of the ousted former directors! Hold on to the shares you have and fill your boots!!
Why are we waiting?........tick tock....tick tock! These shares could go to £8 if he is elected. I think its worth a punt. If he isn't then there may be a temporary set back. Hey Ho.........its still a sound company with potential, so prices will recover. We should have news announced very soon......maybe mid day.
Good luck all for tomorrow's vote result. It would be nice if Dignity put on a nice spurt to around £8. We shall soon know!
Good luck all for tomorrow's vote result. It would be nice if Dignity put on a nice spurt to around £8. We shall soon know!
Are buys topping up occurring
I’ve just voted for the proposal. I’m aligned with Phoenix on unrealised value. How the company can say they aren’t thinking about other investors’ interests is disingenuous at best. We want to maximise returns the current strategy is not doing that. How long does it take to build a management team and corporate plan? They’re a joke IMO. The shares have pumped up (IMO) on the news of potential change at the top. The company is spending shareholder money on PR and letters to communicate with shareholders by post, while Phoenix has huge skin in the game and spending their own money.
I think this could go to £8 before the April 22nd vote....finger's crossed!
I think I have made it fairly clear that I believe we should vote for Gary Channon. I suspect that there will be a little turbulence at his election, but he will have the authority to carry things in the direction that is best for us shareholders. I think we need a change.
ahha with regards to the vote, what in your mind is the right way?
With board or against?
I repeat again for the benefit of my fellow shareholders that IF the vote goes the right way on the 22nd April, I can see this share going to £10 which in my view is fair value.
And who might YOU be? Andrew Judd or Clive Whiley no doubt! Looks like this is your first and only post. I've been on this chat site for a very long time and as you can see, I have opinions on shares other than Dignity! Let my track record for the last seven years speak for its self.
@ahha You are Gary Channon and I claim my five pounds
Probably, because the future is beginning to look much brighter for this company going forward! If the vote goes well on the 22nd of April, there may be sell offs of part of the company.......and who knows, maybe a bid further down the road.
Agreed but why the 7% rise today?
Despite this latest response from the current management of Dignity, Pheonix, a major and well respected shareholder of 30% of the company have major misgivings and obviously want the same outcome of increased shareholder value as the rest of us! The present management make a plea to stick with the 'status quo' it all about what they are GOING to do! Hence the immense frustration of Pheonix. I am not inclined to give present management the benefit of the doubt! They have procrastinated long enough. What we need is a new driven and value oriented approach! There can be not sentiment in business......we the shareholders want results!! I am inclined to support Gary Channon and the successful Pheonix company.
Any comment on the April 6th RNS ? who are Granular Capital ?
Correction: take out price would be more like £8.50+ at this price! Still not a bad return. But as a long term hold and with future good management, it will get to that price fairly easily within a year or two.
Its NOT out of the question! British companies are really cheap right now and at this price it's a gift! Funeral Director's are a solid, reliable money making machine. OK, at the moment its in a cut price war right now, but Dignity has a monopoly position. And with Pheonix as a possibly disgruntled share holder, together with other institutional shareholders hungry for profit, this could well be a vulnerable prey for someone! If so....at these prices......takeout would be £10+
Its out out of the question! British companies are really cheap right now and at this price it's a gift! Funeral Director's are a solid, reliable money making machine. OK, at the moment its in a cut price war right now, but Dignity has a monopoly position. And with Pheonix as a possibly disgruntled share holder, together with other institutional shareholders hungry for profit, this could well be a vulnerable prey for someone! If so....at these prices......takeout would be £10+
Dignity PLC - funeral services provider - Says Phoenix Asset Management Partners Ltd has made a binding commitment not to bid for the company. Phoenix said it will not seek to control the board of Dignity.
"We want to return to our work helping Dignity develop the best strategy for long term value creation because that is what we believe will deliver the best outcome for shareholders. If we lose the vote the board has said it will block Phoenix's involvement with Dignity and remove our board representative," Phoenix says in its statement Tuesday.
Yes, I agree with you....anything is going to be better than what we have. But Pheonix has a high motivation to get things moving and I'm sure they will succeed!
I keep posting here to try and kick start a debate in these shares, but not many people seem interested.
I will be voting for the Phoenix resolutions, not because I support them particularly, but because I've been unhappy with the management for a while now, I'd like them to push back more aggressively with the CMA and to pay a dividend. I can't say that Phoenix have been terribly successful with Hornby, but I still am ready for a change.
You can read the two sides of the story here....
https://www.dignityplc.co.uk/news-media/news/press-releases/2021-03-30/2035/publication-of-circular-and-notice-of-general-meeting/
https://www.phoenixassetmanagement.com/news/36/