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Am I missing a trust related purchase or something - don't know but PM only took 10k shares in the raise? Out of 30m Game on - come on my son. Says it all to me - the punter get it all 'RISK ' - in the chops. HNY Called the raise 2 mths ago as Net Assets at £600m and falling - limited Rating etc etc - Pre- raise could not support the airline NAV thingy ish. GLA .
The share price hit 750p a month back in a significantly worse news environment. 1000 might be a stretch, but I reckon HSBC's 880 is in view given the company's ability to survive and the fact that things seem to be opening up much faster than originally anticipated
No, it’s on the back of the placing which was done with no discount and the placing was significantly over subscribed.
If the investors have absolute confidence to buy £178m of shares in one hit at the current price, the share price will always be rising 10-20% on the back of that confidence.
It may re trace in the next week or so, can’t see it up at £10 like someone suggested, unless there is some significant positive news.
https://www.proactiveinvestors.co.uk/companies/news/920140/dart-places-shares-at-zero-discount-920140.html
Headline says it all placing at 0 discount. If that's not a ringing endorsement I don't know what is.
Their September figure makes sense, as it implies a cash burn rate of around £62.5m. I don't see how they get the subsequent cash burn down so low through the winter in the Jan/Apr scenarios? Either way, really good news that this business is here to stay, the dilution changes my upside price target, but with the revenue growth shown pre-Covid we could easily get back to £19 in the short-medium term
I wouldn’t rule it out
It’s been very lucrative indeed this past couple of months. I did miss out on this rally though..
arh well they’ll be plenty of other opportunities.
Congrats to the holders
Great rises over the last few days or so but be careful. There seems to be a consensus forming the t the govt has been very poor over all aspects of the crisis. There is a growing clamour that without the track and trace app that the UK could see a return to increasing infections. That might, might, mean other countries won't take UK tourists. Or worse case the LD continues or is re-instated. I would be inclined to cash in on some profits. just my opinion.
the city can now see most questions removed, confidence restored.
Millionaire106's been caught up trying to trade DTG.. unlucky
I did read them both thank you which is why I’m surprised as this dilutes shares by 20%
I was expecting a 20% drop in which I was then going to purchase more but I’m afraid couldn’t do it
A 20% dilution for existing holders and the price goes up! Strange but true..
So current mkt cap is about £1bn + 30m new shares @ £5.67 = new mkt cap of a shade under £1.2bn.
That’s bonkers imo
GLA
Despite the placing of additional shares sp gone up significantly so far this morning. Is this on the back of the EasyJet news?
We have smashed over £6 per share looking like £7 shortly
yes interesting comment from easy jet this morning there starting some internal flights fro mid June onwards but no mention of when international routes to start. or something lime when there profitable they will demand seems low imho this year.
See Dart have a start up scenario from Sept? on the RNS
A total of 29,781,894 Placing Shares have been placed at a price of 576.5 pence per Placing Share.
The Placing was significantly oversubscribed.
Surprised me slightly that their doing a 20% placing.
With them securing the Covid loan I thought they would of had plenty of liquidity headroom without diluting existing shareholders but clearly not.
They must be burning through the cash at a much quicker rate than I initially thought.
Will be interesting to see what the market makes of it and even more interesting to see what price they get for the bookbuild shares!
Interesting stuff and watching from the sidelines with intrigue awaiting another entry point.
Management has consequently taken decisive action to underpin the stability of the Group's business and also to preserve cash, as well as position itself to maximise the upturn opportunity when the leisure travel market re-opens.
They will the money plus ccff on a bit of business.
Don’t panic this is good news...
RNS says Assumed gross proceeds on NO LESS than ?170 million..
This is very interesting. 150 million shares in issue, 20% is 30 million new shares.
So company are assuming share price of ?5.67. I presume therefore they have had offers no less than that price in their discussions. And it leaves open the prospect of a higher strike price.
Placing price. £5.67 or there abouts
Greece will allow direct international flights to Athens starting June 15, with other tourist destinations to follow July 1,
wow..... you couldn’t make it up.
Any thoughts on the placing price ? Raging about it but will load up on the drop. Great share to be in for the long term.