Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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19p? I thought it was more like 17p.
Look at the amount of shares that have been purchased each day , its very small.
Think it's around 1m altogether. The Company wants to purchase around 113m so not even scratched the surface .
The company is targeting an average cost of about 19p
However if people are willing to sell their shares very cheap then the company will take them.
Once these few sellers are out of the equation things will move up.
What holders selling at 15p does mean however , is the company can afford to pay 23p per share later and still get their 19p average.
I am not an expert in these matters but wasn't the share buy back supposed to in rease the share price so it sits closer to the NAV??
Not sure it is having the 'desired' effect.
17p and I am out.
Couldn’t have put it better myself ;-)
Ceiling is 17.3p. How close will we get to that?
Why?
“ the Company intends to implement a discount management policy, targeting a share price discount to net asset value ("NAV") per share of no more than 15% in normal market conditions.
The Company's net asset value per Share (the "Net Asset Value per Share") is currently 20.4 pence per Share”
I AM BUYING GOT TO REACH 19P AT SOME STAGE!
Notice that the maximum buyback approved is an unusually high percentage of the total company shares, at approx 20%.
Could have a considerable effect on the SP.
And so it begins. Interested to see how it pans out this time.
Not invested here at the moment as no cash to invest, but still watching......
Highly unlikely to reach 20p
“ the Company intends to implement a discount management policy, targeting a share price discount to net asset value ("NAV") per share of no more than 15% in normal market conditions.
The Company's net asset value per Share (the "Net Asset Value per Share") is currently 20.4 pence per Share”
20p and I will be very tempted to sell up :)
SHARE BUYBACK 2 START AGAIN!
...Alliance Pharma, not Alpha
Interesting to see the holding in Alpha Pharma via a Topco. Not sure where this is going and what value is adding to shareholders. Looks like too many vehicles for DBay to move loans around. Be happy to be proved wrong. won't see any returns for many moons.
Bergcarls as there are better shares to invest in...been waiting for this for 2 years, a lot of potential but too slow .
Wow, now an increase in Trifast. up to 5.69%
If its such a "crappy share" why did you only sell half?
crappy share...on its ass again!! sold half my holding when it hit 16 :)
Wow, up to 12.19% I wondered if they would keep going after the results were a little weak. They must have a plan.
Cancelled old shares from previous buy back, very happy.
I think you are right, 28th was the 2nd court date and after that plain sailing
Looking at the time scale of the last share buy back, I think we could be due the RNS this week.
Thursday is favourite.
In my view share buy back will commence soon.
Any shares the company buy back under Nav is a good move for them.
If we hit 20p then I'm selling half my holding but keeping half for the long term.
Anything under 20p and I'm holding as this company is a money making machine.
I missed Monday's RNS, how did that happen?!
So, they approved the "further buyback" as we expected. All that remains to be seen now is a) when the buyback begins b) if the SP rises and by how much and c) how many shares DBay will offload at a premium to make themselves a load of money? Just like last time.
Question - why are they so concerned about the perceived discount to NAV? And why spend a big chunk of the cash pot trying to narrow that gap when surely that cash could be put to better use by investing it in something and growing the company/value?
It's all smoke & mirrors I think.
Still watching....
* Assuming 112,352,944 LDG shares are acquired pursuant to the Share Buyback Authority and the Concert Party does not participate in the Share Buyback and no further LDG shares are issued by the Company.
Capital Reduction
As set out in paragraph 4 of Part I of the circular published by the Company on 16 February 2023 (the "Circular"), the Company intends to make an application for a Court Order to cancel 140,441,180 Ordinary Shares (the "Cancellation Shares") by way of a Court-approved reduction of capital, as approved by the Shareholders at the General Meeting. A provisional date of 17 March 2023 has been obtained for the directions hearing, and 28 March 2023 for the confirmation hearing. These dates are subject to change depending on the Court's timetable.
Pleased it's all gone through. Last time they started buying shares back almost immediately! 20p would be fair.