Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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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I seem to have been a bit hasty with my analysis as a transaction has just appeared for 10,355 shares transacted at 454p and at 14:19 it is undoubtedly a sale although they are stating 'unknown' that explains why I got my shares so cheaply.
Just topped up at 467.5p, I couldn't resist it as the price fell significantly today. I don't understand how they can be quoting bid 454 and ask 494, with all the transactions today showing as sells and at higher prices than I paid to buy. Yes I know that they never know whether a transaction is a buy or a sell when they post it here, so don't be overly swayed by that.
added in my SIPP at 495p with last reported NAV 600p
520p to buy now and if all the investments are valued as conservatively as Incremental (7.9M vs 4.8M) we are onto a winner here.
21st March RNS - Incremental realisation
Dunedin Enterprise Investment Trust PLC ("DENT") is pleased to announce the realisation of Incremental, the market-leading IT services platform which designs implements and supports clients with ERP/CRM systems and cloud infrastructure.
Proceeds received, after the payment of carried interest in Dunedin Buyout Fund III LP, amount £7.9m, consisting of capital of £7.1m and income of £0.8m. This compares to a valuation net of carried interest at 31 December 2021 of £4.8m.
The uplift on the 31 December 2021 valuation is £3.1m, equivalent to 23.4p per share."
Have bought back in 1000 shares just now at 475.5 admittedly ex ~ dividend. Am looking forward to the next tender offer hopefully not too far off and I will be looking to increase my shareholding beforehand.
Date: 1 February 2022
Preliminary Unaudited Net Asset Value announcement for 31 December 2021
The Board of Dunedin Enterprise Investment Trust PLC is pleased to announce a preliminary unaudited net asset value of 558.8p per share as at 31 December 2021 (546.2p at 30 September 2021). The net asset value per share is stated after a 16p per share dividend paid in November 2021. The net asset value total return for the year to 31 December 2021 is 39.5%.
478p to buy today thank you into my SIPP now
Nice one!
16p Dividend and ~24% of my shares bought out at 523p
NAV now 546 and I can buy more back at 491
I have tendered all my shares for the 523 price.
Would buy them back on any market weakness!
Tender offer set at 523.8376p, subject to a GM resolution to be held 10th November.
Price trading up 6% today - 497p to Buy and 492.5p to Sell
I am surprised that there doesn't appear to be much interest in buying shares ahead of the tender offer, it looks like a great chance to make a modest gain quickly in my opinion. I bought in significantly in September so have locked in a gain already.
CitySprint
Taken form Tender Offer RNS
https://otp.tools.investis.com/clients/uk/dunedin/rns/regulatory-story.aspx?cid=260&newsid=1517952
As detailed in the interim results announcement made by the Company on 16 September 2021, an agreement was also entered into following the half year for the realisation of CitySprint, the same day courier. This transaction is subject to regulatory approval and is expected to complete in the second half of 2021. The investment in CitySprint has been valued at the expected proceeds of £1.5m. The investment in CitySprint has generated a return of 2.1 times cost.
The Board is proposing to return up to £26 million to Shareholders pursuant to a tender offer (the "Tender Offer").
The Company has today published a circular providing shareholders with full details of the Tender Offer. A copy of the Circular will be submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. The Circular will also be available on the Company's website (https://www.dunedinenterprise.com/).
Details of the Tender Offer
The Tender Offer will enable those Shareholders (other than Restricted Shareholders and certain Overseas Shareholders) who wish to sell some or all of their Shares to elect to do so, subject to the overall limits of the Tender Offer. Shareholders who successfully tender Shares will receive the Tender Price per Share, being a 1.2 per cent. discount to the NAV per Share as at 30 September 2021.
Isn't it a case of people realising that the UPOL sale will mean a nice dollop of cash sometime this year?
anyone one know why this is rising? One of the companies invested in?
Tipped today by Questor in the Telegraph on the basis of ongoing tender offers returning proceeds to holders and the continuing wind up of assets. NAV is estimated at between 400 to 450p. Nice rise on the basis of this.
Can someone remind me of the CitySprint story please. DNE still holds 5% but it has been valued at zero.
I don't see why a zero value would be appropriate unless it draining cash.
The delivery business faces practical covid issues but it appears to be working close to capacity and I guess it's profitable?
Lovely dollop of bunce following disposal of non quoted shares AND the SP has increased AND a board member has bought another chunk. This is the nearest thing to a cash tree recommended by the Telegraph.
Just a case of finding well managed assets at a good discount. I have held DNE for ten years or so and attended AGMs to 'kick the tyres' of caliber of management'-finally paying off. Others are now looking less cheap-HAN, HSP and DJAN are in the frame but DYOR. Good hunting and thanks for kind words.
Spot on Bev88 you shrewd cookie 😀 Anymore tips👌
You never expect to get full value on liquidation but Dunedin are smart people and in my IMHO this stock is a buy.
In your opinion is their any upside in the price of this share, as we go to winding up ???
The one investment in the portfolio I had concerns about i.e.Steeper has turned out to be a winner and the rest is at a massive discount of over 30%, soon to be wound down,and all in solid stuff- I don't know of a better value I.T. and I hold plenty.
Where else can you buy attractive,expertly managed assets plus free cash at a 30% discount . The management has a track record of performing and returning cash to shareholders. This is a stock that is under the current market radar.
Not sure on reason for spread but now at nearly 30% discount to NAV? Why so out of favour???