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Last post: Deep333, 16 Feb 2024 05:52
Following on from my last post, received a reply from Halifax Sharedealing.
"I can see that £ was credited onto your account which is correct for the X shares you held at a rate of 0.475 pence per share.
The stock valuation you received showing the 47p was based on the market value as of 5th January 2024."
Confusing for a novice like me but all's well that...
Very unlikely that I'll be posting on here again.
Be most interesting to see the development of DX Group in the years and months ahead.
Wishing everyone the best and thanks very much for all the help and assistance.
Truly has helped me enormously.
Thank you very much for replying Ripley.
I have raised the query with Halifax Sharedealing.
A couple of quid here or there is fine, but the sum of £379 is significant enough to require an explanation.
If this is the Halifax's commission then that is another issue I will be taking exception to.
Will post Halifax's reply and hope other PIs have not had the same experience as me.
Apologies for venting!
Cash in 9.30am ( D ) I seem to have got 47.5p
Thank you Strop
Also noticed that the Halifax Sharedealing Service offered me the "market price" of 0.47p and NOT 0.475p.
That's a difference of £379 which is significant enough for me post this.
Please excuse my ignorance but is 0.47p the correct price or am I missing something?
Started: TheToe, 31 Jan 2024 13:07
Last post: harv99, 1 Feb 2024 12:23
47.5p
What was the price paid per share on the buyout
Last post: emoplugs, 29 Jan 2024 09:21
This has been an emotional, but good ride, that morning back when the shares plummeted when DX were unable to post the accounts on time and my portfolio was showing a huge £120K+ loss in a day . Then nearly a year in the doldrums while suspension was imposed.
Now I have a pension pot 140% up, and personal shares with that will make the tax man happy, not quite the millionaire I'd aspired to be but, if this ride went on longer, I am sure i would have been.
It's been good reading all the messages posted, thank you everyone, I'm off to look at Villas in abroad ...
Started: PEngineering, 29 Jan 2024 08:25
Last post: PEngineering, 29 Jan 2024 08:25
It’s been fun all, some moments more than others!
Good luck
Started: Novicepensioner, 7 Dec 2023 08:21
Last post: Halma1983, 22 Dec 2023 18:53
Gents
Thank you for the insight, sounds logical.
Everyone’s circumstances are different.
Thinking about it now, 0.5p could be worth it for an early exit 🤔
Thanx once again much appreciated 👍🏻
Portswigger is right. This is all very normal and typical of shares waiting for a takeover to go through. Some investors are looking at other investments and are happy to sell up just below the offer price and HIG will be happy to keep buying at just under the offer price. Only yesterday DX issued a statement saying HIG now control over 45% of the shares (up from the previous 38%) clearly showing HIG are the buyers.
I dont think there is anything strange np. Shares are sold for all sorts of reasons at any time. Two institutional shareholders have sold for their own reasons but there isn’t anything strange about it i would have thought. These processes take time and it’s likely it could be feb or even march before any shareholders see any final settlement from the offer. Anyone who sells will see it in their own interests to sell now rather than wait.
My first experience of this buyout business and so far I find it a little confusing.
Shares being sold at 46 when 47.5 is available in a few weeks, shares being snapped up and yet the price is stagnant. Strange?
Hear Hear Tep. 👍
As I've stated previously, this board has provided a wealth of information and opinions which I know will always stand me in good sted.
As Tep has already stated, it truly has been a "pleasure communicating" on this Board.
Wishing you and all the very best for the future and Merry Christmas & peaceful 2024 in toe.
I've sold up making over 100% gain in this share since I see better value elsewhere for now. . Its still not a retire-able earning but definitely enough to overcome life's inflationary pressures for the foreseeable future. I'm happy to see the progress DX have made in the recent years a big thanks to the management team and II's for driving the right amount of change here to increase shareholder value. Its a shame all the work is done and Private Equity will now take ownership and possibly return it back to the market for even more in the near future.
Its been a pleasure communicating on this board. Invaluable information learnt even if you dont always agree with it. ATB with your future investment and hope they are as rewarding as this share has been.
Started: email, 11 Dec 2023 15:41
Last post: PEngineering, 11 Dec 2023 22:00
Yes I was curious what email meant
I sold them all..
But I’m still curious to see how it ends.
Presume, you mean today’s update on letter of intent which told us nothing we didn’t already know.
What you mean?
As of this morning I no longer hold shares in DX.
This has been a sound investment, although I was hoping to hold for longer.
Thank you to those that took time out to explain some of the finer points especially the last few weeks.
Good luck in your next investment 👍🏻
Hi all,had my nice little Divi today,what happens next,any ideas.
Started: email, 5 Dec 2023 23:29
Last post: Novicepensioner, 6 Dec 2023 21:13
Along those lines.
The only thing we definitely know are large buys and no price change?
Q1 next year may be interesting 🧐
So following this conspiracy's logic, HIG gets shares at least 2% cheaper and we investors who sell to avoid waiting sells at least 2% less - adding the two sides HIG ends up with 4% better off on many millions of shares -well worth the effort of a conspiracy
Could be the new owner mopping up at a lower price in preparation for a potential rerate after take the over in the new year.
But only my thoughts 🤷🏻♂️
Lots of very substantial trades coming in and going out...They all know the score, so why all this in and out?... I would have assumed the sp would have been laying dead and just waiting for the official demise, but it seems I have been wrong... I'm not a conspiracy lover, but to have concluded a deal I don't really understand delaying the actual sale for so long, UNLESS (the conspiracy) they have planned it so that the majority of PI's would get fed up of waiting and sell off, and HIG gets the shares at least 2% cheaper.
Thanks
Excuse the grammar and spelling 🤦🏼♂️
I’m nee to this myself so not 100%.
Basics are:
Dividend paid on the 7th Dec @ 1p / share.
Actual takeover Q1 2024.
That my friend is the full extent of my knowledge.
Hi all, anyone actually know what’s happening with this take over business.thanks
Started: PEngineering, 28 Nov 2023 11:18
Last post: PEngineering, 28 Nov 2023 16:18
Samson and Glazer it would appear
Interesting. I wonder who they are selling the 8% of floated shares to?
Morning, interested in getting your thoughts on the trade RNS'd this morning.
Is this purely to free up cash for other investments etc.
Started: email, 23 Nov 2023 15:07
Last post: email, 23 Nov 2023 15:07
"While the current economic headwinds point to some softening of consumer-orientated volumes, the Board continues to remain encouraged about growth prospects, supported by its consistent high service level offering and the commercial opportunities available."....
So why sell - and why sell at that lousy price with all those opportunities ahead?... Please vote against
Started: tep1, 21 Nov 2023 12:44
Last post: tep1, 21 Nov 2023 12:44
...for now, in case a counter bid comes. It ain't over till the fat lady sings!
Started: Lunchalot, 16 Nov 2023 11:19
Last post: Deep333, 16 Nov 2023 17:58
At long last...! 👌
May I echo Ports view of how good it's been to part of the DX community. Learned a lot and continue to.
I intend to hold till the end, simply as I don't know what else to invest in. The only option for me would be to lock my 55% gain in a 'safe' savings account paying 4.5% .
The above said I'll still keep an eye on FTSE stocks. The AIM hasn't doesn't done much good for the old ticker!
Wishing all of you the best for the future and may I thank you all for putting up with me.
GLA
I'm not sure I deserve any credit lunchalot but thanks anyway.
What interested me in the RNS was that this HIG interest had been going on since June. DX deemed it in their interest to keep this from shareholders (certainly private investors) until a acceptable price was proposed or it may have been the requirement from HIG which I think it may have been. It's a lesson for us all that you never really know what is going on behind the scenes. This time it worked out well.
I was also interested in the reasons for acceptance. One reason given was that of liquidity like SCS and let's face it there are profitatble dividend paying companies that are not attractive to potential shareholders of whatever type. Simply put good figures can be virtually irrelavant to potential shareholder value if they don't create shareholder demand.
DX were also mindful of their reliance on the UK market amid the very uncertain macro-economic background which certainly underpins my investment strategy at the moment
I know we all have a different view of the final offer price. For me as a turnaround play it has far exceeded my expecations so
this investment ranks as a pretty good one for me.I'll be selling up the next few days as I've got other plans for the money rather than wait 3 months or so for the extra.
I'm not sure there's much to comment now so it's unlikely I'll post again. It's been good to be part of this community and the active debate of different views. I wish everyone well.
Well done Ports . credit where credit is due
Started: email, 16 Nov 2023 11:17
Last post: email, 16 Nov 2023 11:17
.... just before the boom season.... R.I.P. DX. Amen
Started: NeverEverGiveUp, 16 Nov 2023 10:20
Last post: Stormer, 16 Nov 2023 10:24
48.5 inc div
🎉
Started: portswigger, 23 Oct 2023 14:25
Last post: Everton66, 7 Nov 2023 16:12
Thank you Portswigger. I appreciate your response. Best wishes to you with your investment.
Fair comment and apologies, nothing untoward was meant. You have explained your view better. I didn't think a protracted discussion on the intricancies of tax on here was very beneficial on here but perhaps it is and anyone can feel free to bring it up if they wish. It's just my view and others can decide absolutely.
A little bit ungracious. You observed that my post was vague, that you didn’t understand it, and that it didn’t really mean anything. I tried to explain why it was on point by reference to differential tax rates. The point is a simple (and for those with large holdings, material) one. I will leave it to others to decide whether it’s of much interest - although I appreciate it’s not of interest to you.
Many thanks Ports, Everton and Email for your invaluable opinions and comments.
As Ports and others have already alluded to, the fact that there haven't been any other interested parties illustrates that HIG have a clear run ahead and they intend to take all the time to carry out their DD or whatever to be fully satisfied of their investment.
Let's see what today brings, although I can't imagine it would be much different to the last few weeks. Hope I'm very wrong and the SP rockets. : )
Good luck and thank you for indulging me, again.
Tax is very complicated and i’m not sure lengthy discussion is of much interest here. We’ll all make our decision when the offer comes whatever it is.
E mail raises an interesting point. What is it that HIG can see and no one else can ? Perhaps they can but don’t want a bite at the cherry… perhaps it doesn't fit with their strategy… perhaps it not the right time. There could a multitude of reasons.perhaps they are not prepared to pay 45p plus. We probably will never know.
What about trade interest. Are the big parcels carriers going to be interested in a company with 1 to 2% marketshare. In parcels .All DX really have that is attractive is 25% to 30% market share of IDW. Thats the largest… there are competition rules etc.why would someone take that service on board if it alien to them or doesn’t fit with their strategy. Its not as simple as DX are on
Accelerated growth, profitable etc so its a no brainer. …Get your money out lads ?
HIG obviously have a strategy for DX and its quite clear the DX board are onboard with that strategy.
Started: portswigger, 6 Nov 2023 07:54
Last post: portswigger, 6 Nov 2023 07:54
Unsuprising RNS this morning, Two weeks or so further extension to a couple of days after the ex dividend date.. looking like a nicely choreographed announcement of a 47.5p offer.
Started: PEngineering, 4 Nov 2023 08:19
Last post: Novicepensioner, 5 Nov 2023 10:49
Yes, Monday will be interesting and hopefully fruitful.
All chat on an additional bid seems to have vanished over the past few days so hopefully an understanding has been reached.
GLA
Lots of volume at close, let’s see what Monday brings! Enjoy your weekends
Last post: Novicepensioner, 26 Oct 2023 09:37
Price looks good on HL just now 🧐
It's in the context of the share price and valuation. Buyers and sellers determine everthing. In relation to the SP, market makers have to make a market for the shares and they can't do that if there are not buyers and sellers. As regards the company valuation the buyer offers the price...and the sellers.. ie shareholders decide if they will accept or not.
Perhaps my wording was a bit confusing.
@Ports how do those buyers and sellers determine what they are prepared to pay or accept? Asking for friend..
Everton... it's a fair point but there has never been a direct correlation between profit/business performace/market share or whatever and share price/valuation. There are so many valuation metrics you could come to any figure. There are only four things that matter in my view ... buyers/sellers and what someone is prepared to pay and what someone is prepared to accept. Does anything else really matter ?
What I do not understand, is what the upgraded estimates of profitability must be, after Tuffnells. If DX share of IDW was 15% before the collapse of Tuffnells and is 25% now, and IDW is the biggest constituent part of the freight business, then that is a very significant increase in turnover, and presumably a pretty significant increase in profits. if the company was significantly undervalued before, then you would imagine it must be very significantly undervalued now, arguably, even at 48.5p
Started: portswigger, 25 Oct 2023 09:09
Last post: PEngineering, 25 Oct 2023 10:31
Thanks Ports, as you say the level of transparency regarding the decision by SCS is refreshing!
I'd have hoped DX were slightly better position to be listed to gain value, but it has been a slog, all be it a great story in isolation from single digit shares to the value now. Obviously everyone can see the previous prices from before the turnaround but the landscape has changed and some of the issues haven't helped!
Hopefully we get some news soon :)
Something interesting came out of SCS yesterday. An offer has been made for the company which I believe is a low offer, certainly considering their cash position etc. But the directors very kindly outlined their reasons for recommending accepting the offer. Quoted Below;
"Nevertheless, based on ScS's history since the IPO, the ScS Board is not confident that this anticipated progress will necessarily be recognised in appropriate share price appreciation. In the ScS Board's view, this is due to a number of factors including; the lumpiness and sometimes unpredictability of big ticket retail which is unattractive to some public market investors; the IPO positioning of ScS as an income stock when small cap companies are typically growth focused companies and noting the current significantly higher interest rate environment; the poor track record of some comparable retailers; and the failure of investors to properly value ScS's cash resources.
The ScS Directors believe that the ScS Shares generally have low levels of liquidity which makes it difficult for ScS Shareholders with larger holdings to realise their investment and acts as a barrier to certain investors who require a significant holding to become a ScS Shareholder."
Personally I think there is similarities to DX in the following... in various minds
"no confidence anticipated progress will be reflected in share price appreciation"
"Unattractiveness to some public market investors"
"failure to properly value the business and resources"etc.etc
"low levels of liquidty"
It's good that the SCS board have been transparent in their reasoning , hopefully we'll get that from DX rather than we accept and recommend.
Started: PEngineering, 19 Oct 2023 15:50
Last post: Novicepensioner, 20 Oct 2023 13:59
Just looking at the board, 43.17 placed as SELL, that same price was my quote for a buy.
I reckon the algorithm is off a little today.
Sand Grove with a big purchase @ 43p.. sounds positive
Started: Novicepensioner, 16 Oct 2023 08:51
Last post: Novicepensioner, 16 Oct 2023 08:51
Cracking on with the business while HIG ponder, should make for interesting negotiations on the final price.
GLA
Last post: Stormer, 13 Oct 2023 08:36
Good results 1p div.
Started: Novicepensioner, 9 Oct 2023 07:51
Last post: portswigger, 12 Oct 2023 16:54
OK. I don't really grasp your post.I don't really understand where greed comes into it and how me supposedly "grabbing all I can get.... explains alot" What exactly does it explain.... you seem determined not to answer. Personally I don't think that commenting on the actions or strategy of other shareholders whoever they maybe actually gets us anywhere. It's just conjecture , it' s not necessary, irrelavant and doesn't really contribute to this discussion board for the benefit of those who read it.
You right Ports, I don't know about you - but why would I want to?... People invests for all sorts of reasons, it's their business and good luck to them all. My target sp it's my only concern. In my own view no investor deserves less than that and we've been dragged into a possible under-offer. If they're happy with lower than that they're 'financial' mugs and out to grab whatever they can or just happy to get whatever is given to them for whatever their reasons might be. These terms aren't in anyway personal or individual- they are 'financial' expressions only. I call myself a mug anytime I am forced to sell below my tp whether in gain or loss
I fully agree Ports. Everyone has every right to make their own choice as to what is right for them. I think a price of 48.5p is personally on the low side for DX but my holding now amounts to over 6 figures and therefore I would argue my decision to accept this offer is actually the opposite of greed. I could get greedy but the amount of profit in monetary terms for me personally is now one I am happy with. Lloyd senior has far more invested than all of us and at his age perhaps he wants to enjoy the fruits of his labour and who can blame him. Decisions on whether to sell or not will depend on how much skin you have in the game and your personal circumstances and no one should judge another’s decision on this.
With all due respect email you know nothing about me and personal comments about me grabbing what I can get are completely irrelevant. If you check when I started posting about DX you will know roughly what I paid. A return at 45p or 48.5p is perfectly acceptable to me. If it’s not enough for you then fine. No problem. You really should respect other peoples positions. I do yours at 68p. You’ll still haven’t explained where greed comes into it?
Well, Ports, my target is 68, yours is grab whatever you can get from this possible offer. That's explains a lot