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Hopefully Dole will use the funds to pay down part of the debt pile.
Hi, yes a good read. Says it all really, Family commitment, some RNS notices of increased holding by major investors. The E-Coli thing is not unusual in the trade and will blow over. I cannot fathom the major drop in SP. I think its now a very safe long term investment. I thought before that they might have missed something in the Dole books but to be honest the McCanns are far to smart. It might be that this potential Banana problem might be factoring in. In any event I'm about to buy a few more. Good luck
https://cantorfitzgerald.ie/wp-content/uploads/2018/12/Cantor-Daily-11-December-2018.pdf
I thought it was worth reading.
Just what we needed, another accountant. It must be time for Kevin Toland to move out, surely Aryzta needs him full time
A pity company left the punters like me on the lurch. A lot of selling over past while in this stock in advance of a pretty vague update. Only positive is that if they take up option to buy rest of Dole should get a discount. But things could get worse before better. Insider dealing while hard to prove should be looked into. A share that had fallen 40% before latest update & from 2 to 1.70 over previous 2 weeks alone. Who knew what.? Where are the regulators? Who sold, identify please.
Bencollie, the spread isn't so buy if you buy in Dublin (main listing), 1.55/1.56 just now (20 minute delay) Another website is currently showing a slightly higher Ask however no Bid showing
Can you imagine the hit if they have found something in Dole and they decide to exit. It's going to take years to turn Dole around. I will hold and will wait for the takeover :)
I really don't understand this. They have have just released a very reasonable update. I'm in the trade and there are certainly no threatening problems that would be trade related. Weather this year has been a factor, but when is it not.
I just wonder if they have uncovered something dire within Dole- Total Management are superb at DD prior to investing but so many have fallen foul to a US investment. Long term, they will rule the produce world. Problem with topping up on the shares is the spread, its so inactive in general trade that whoever makes the market seems to to cover too much. Anyway good luck and eat more fruit !
Hold imo. And there's still the dividend, nice yield at these prices.
Well that didn't go down too well, E1.60 as I write, was slightly lower earlier. It will be a long time till we see E2.57. They were doing fine with the smaller add-ons, Dole is in a very different league. A deal too far?
Lack of information is disturbing I will stick with it until end of week
Looks like the small investor will be last to know. This company should have issued a reassuring statement or otherwise weeks ago. Blaming Brexit for falls in markets is way overdone in many cases and cannot explain this either. Come on company you owe it to all to update the market. Many who know more than me have sold by now I suspect.
Now 34% off. Something isn't right.
Based on last evenings closing price in Dublin we are off 29% from year high. Yes I do appreciate that all markets are well off. 2019 awaits.
I said that there would be news, a little disappointing. We will have to wait for the next 1/4 update from Dole or final figures from TOT. In the meantime I can't see the SP recovering.
Ashton we appear to be the only posters on this one. Hope your optimism unfolds. I will be happy then. You too I hope.
Suspect that there will be news sooner than later
A little bit of reassurance wouldn't go astray. It is unlikely to be a takeover target with a 45% shareholding in Dole. It was more likely prior to this deal which at this point appears to have be a costly venture for existing shareholders. Time will tell if that will reverse.
I believe the SP is still over the SP when the FFY (Fyffes) deal was announced. The SP ran up very quickly as TOT was seen as a takeover case. Obviously that didn't happen so the SP has come back down for now. Will TOT still be listed in 2 years? I doubt it.
Kind of strange that company hasn't indicated how well integration of the Dole acquisition is going or offer some reasurrance given decline of share price. All a bit worrying. Brokers lack of comment also unusual.
The SP Preformance has been disappointing, even more so for those that took up the placing, suspect many have already sold. Can't see any progress till we see the Finals next year, many months away. Suspect that they will be able to pick up 1% of Dole per year without issuing additional shares. The big one is how are they going to pay for 49% in a few years. Of course if the buyers of Fyffes (FFY) take an interest we won't have to worry about buying out Dole. At the current price TOT could be taken out for under E3.00.
The performance of this share in 2018 has been dreadful & no sign of an upturn. Management need to explain why? Are we private shareholders being kept in dark or what is going on? The acquisition of Dole was suppose to enhance shareholder value not destroy it. Is the company going to issue more shares and dilute further existing shareholders to fund the acquisition of the 55% of Dole it doesn't own. Need to update market on progress with dole acquisition, disposals etc. Share price down 20% - not good enough. Need to reverse this.
It begins.Total Produce Dole begins process of non-core asset disposals
https://www.goodbody.ie/morning-wrap.html
Steady as she goes. Nothing nasty, margins up on difficult weather conditions. SP recovered in Dublin, just over 500k traded now.
Good to note that Invesco still likes TOT.