Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
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Does the takeover code preclude FY results being made public? The last 2 years Dwf results were posted on today's date, but not today
I think DWF have colluded with Inflexion. Management must be looking at some good terms here. Why was the recent trading update missing any profit guidance? I felt this was shorted, and it was, to get a cheaper buy out.
Inflexion either has a hell of a plan on how to monetize their acquisition or has much more info on new developments than general market has (given recent new Commercial Services appointments), otherwise it doesn't makes any financial sense of buying out DWF at price way above fundamentals.
All out in the open nearly three hours after the market opened. Those with insider knowledge have been given the opportunity to make a few quid in the meantime.
Well done to those who sat this out! I'm not in shares anymore. I needed to move on with my life, but this is good to see.
Wow what's going on here then!?
Given the blood bath and sea of red elsewhere in the market today, ftse down almost 3%, this is actually a great day only losing a fraction and maintaining recent gains. really promising
Spread looking better at the moment. Hopefully we will break 70p...
Nice gap up, some chunky buys and no sells, upward pressure is strong on this now, looking very positive
Well a month on from the trading statement no sign of a placing. With the exception of that note from Liberum everyone seems to be scratching their head about the drop. There does seem to be some nervousness around the final dividend to be declared next month , which should be around 3.5p, however this is only around £12m in cash flow to be paid in October, plenty of time to improve the thin cash buffer. Saw this note the other day which is a very good summary of the company and the situation
https://masterinvestor.co.uk/equities/dwf-group-mega-cheap-on-a-10-86-yield-and-5-43-p-e/amp/
"My View – Possibly One Of The Cheapest Quality Stocks that I have seen for quite a while"
Commercial law firms do best when there is a vibrant economy (unless they are hedged by strong litigation/insolvency practices). Firms heavy in real estate may be particularly vulnerable if that market slows down (commercial property is in the doldrums for structural reasons). That said, it's easy to identify risks, but the tricky bit is assessing how much of that negativity is priced in already....?
We have liftoff!!
Reassuring FY update. WTF, no profit guidance, like they were hiding something?
Comments like - Highly confident in medium term guidance provided in July 2021, underpinned by the cost programme which is now expected to remove in excess of £15m of cost by end of FY24 made it all sound very desperate.
Searching round, Berenberg seem the only bull on this now, and for every bull there is a bear, like Liberum who rate it as a sell - One of them is very wrong, but which one?
Global legal business DWF (DWF) is offering ‘significant value’, according to Berenberg.
Analyst James Bayliss retained his ‘buy’ recommendation and target price of 160p on the stock, which gained 2.4% or 1.3p, to 55.2p on Wednesday.
He said the shares had underperformed despite posting a ‘reassuring’ full-year update last month and are down 33% year-to-date.
‘We struggle to understand the severity and direction of this reaction, noting management’s reiteration of its confidence in the future; its low balance sheet gearing; its exposure to annuity-like, defensive earnings; and its significant asset-backing through the group’s case book and working capital,’ Bayliss explained.
He said the shares are trading on ‘just 4.3 times full-year 2024 price/earnings, with a 12.1% dividend yield and a 16.6% free cash flow yield’, which was ‘substantially at odds with our expected double-digit earnings compound annual growth rate and story of margin improvement and deleveraging from here’.
He added that the current valuation implies ‘a high degree of unfounded concern about the delivery of future profitability and debt forecasts’.
https://citywire.com/wealth-manager/news/stock-talk-dechra-berkeley-dwf-lookers-halfords/a2419979
A quarter a million £ buy! surely now the only way is up?!
Turning a corner perhaps?
I published some thoughts on DWF, have fancied making a few videos. It is not advice, just observations.
https://www.youtube.com/watch?v=Sa9qAT1O8Fk&ab_channel=DartronTrading
Sir Nigel in the TU referred to the company performance and business as "Robust".
According to the dictionary, robust means;
a: having or exhibiting strength or vigorous health
b: having or showing vigor, strength, or firmness
c: strongly formed or constructed : STURDY
d: capable of performing without failure under a wide range of conditions
Since they are lawyers, they will always choose their words wisely.
I can't see the negative yet, just speculation. I hope I'm right here and this will correct very soon, time will tell.....
Looking at the volumes I am personally hoping this is retail panic selling with little substance.
I continue to hold as making quite a paper loss right now, and will ride it out long term.
I do believe in this company, although communication isn't what it should be.
Sold 70% of my holding last week, only because I can tell this is selling off. I suspect the placing is a done deal, much like Jadestone energy which sold off to the placing price before the placing was announced. Question is, what price is the placing? I thought 50p, but we have just dropped below that.
Does anyone know if there is stamp duty when you participate in an open offer?
It all seems very underhanded. The shareprice has been mysteriously drifting and that appeared to present an opportunity for traders like me, but now we see it was drifting for good reason. It's not right that we've been left in the dark like this.
It seems odd that a Trading Statement (in reality a turnover statement) was issued at all after the April Year End given that they will have to publish their full numbers soon.
Refreshing to see someone on these boards being able to take a step back and reevaluate openly where they’re at. Hope this works out for you Dartron. For what it’s worth DWF do have some very good clients and a decent reputation, but I do fear they are going the same way as the other listed Legals who thought they alone saw a way to leverage their legal services into something greater - and paid a very high price for trying.
There was (Allegedly - I have not seen it), a broker note out from Liberium, highlighting how close to the debt covenant DWF was, and the note even forecast a placing [See extract posted on other site]. The fact that DWF did not inform the market on profit, was a red flag. I am inclined to agree with the broker note. While, they may not need a placing, its not sounding great over at DWF. The free broker note from Zeus talks several times about cost savings providing upside, so again not a great proposition currently. I hold a fair chunk of DWF, and for me it is now a hold, rather than a buy. I will wait and see. I have also reduced my trust in the company due to the lack of transparency from the TU, which was deliberately vague, and did possibly more harm than had the truth been stated. DWF really need to get the debt under control, by possibly reducing the dividend or suspending it, hopefully not resorting to a raise at this level!
I shall focus on other stocks for the time being. Thought, it is crazy to think how much this was tipped at the beginning of the year, with £1+ targets.