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Started: Joeoh33, 28 Jul 2021 09:45
Last post: Joeoh33, 6 Aug 2021 20:12
Same as that all gone and replaced by 714 DOLE as Ash had calculated. Seems to be stabilising and will hopefully float on up from here! GLA.
TOT has now gone and Dole shares have just appeared in my ISA without losing the wrapper happily. Despite the disappointing IPO and further fall to $15, imo these are a hold for now. I agree value will out eventually. It's a strong business.
Timing, just very unfortunate timing. It will take 4 to 6 good quarters before the real value is noticed.
GLTA
Cheers Ash, btw what’s your view, Masters of the Universe just got it wrong? Or more serious issues? Thanks.
5,000 will give you 714 DOLE plc shares. The exact figure is 714.2857. Not sure if you will get a cheque for the odd amount.
Started: ashton, 2 Jul 2021 14:30
Last post: ashton, 2 Jul 2021 14:30
Very positive article in to-days issue of The Phoenix.
Started: flundra, 25 May 2021 15:33
Last post: flundra, 25 May 2021 15:37
exchange of shares, **************, share swap
On the face of it, TOT shareholders lose the ISA wrapper on completion don't they? Because the ************** (TOT to Dole plc) takes place before the Dole plc IPO, and Dole plc is presumably ineligible to be held in an ISA before it lists.
Sell now and buy Dole plc when it lists perhaps, to preserve the ISA wrapper?
Does anyone know the answer to this?
Started: eggshead, 12 May 2021 16:47
Last post: CardPlayer, 18 May 2021 21:40
Possibly a mistake, but today sold my holding in Del Monte. However, Dole / Total Produce seems to have further to go.
looks like this will take off really on us market. Already well above the minimum level €2.15 indicated back in February
Just checked, the spread in London is 10.59%. Why would anyone trade at these prices, better to trade in Dublin, far lower spread and there is much better liquidity.
Started: eggshead, 30 Apr 2021 21:51
Last post: eggshead, 30 Apr 2021 21:51
Hopefully news soon. Share price seem to jump late on on low volume so may fall back as quick to 2.06range in Dublin. If news lands will be positive though.
Great finish in Dublin, €2.115. IPO news very soon.
Started: rambo91, 21 Apr 2021 21:11
Last post: ashton, 22 Apr 2021 09:35
Still trading, main listening is Euronext Dublin. Very small turnover on London listing. SP up slightly this morning.
"Per the Agreement, Dole plc's completion of an initial public offering and a listing on a major U.S. stock exchange is a condition for completion of the Transaction (the "IPO"). In connection with the Transaction, Dole plc intends to target raising US$500 to US$700 million in primary equity capital to strengthen and de-lever the combined balance sheet. Upon completion of the U.S. listing of Dole plc, Total Produce will cease to be listed on Euronext Dublin and the London Stock Exchange."
We are all waiting!
Just wondering as the share price has been static for some time - is this because trading has been temporarily suspended? cheers!
Eggshead, your calculation looks correct however sometimes plans go south.
I buy into the Total/Dole story, however I have a long-term price at which I would probably exit. You have to leave something for the buyer.
GLTA
Firstly the following is not my work. The share price of €2.15 is based on a p/e of 7.6%. The average p/e of similar US listed companies is an average of 12.05%. If we were on that p/e our price would be €3.40 which is $4.07.
So if we are at that price after 4 quarters I would be very happy.
However any bad news after we list then all bets are off. Management have a lot to loose so I am not expecting any bad news.
Once float goes ahead without a hitch which is always a risk this could trade immediately at the equivalent of 2.70-2.80 euro. What do you think yourself. As for next 12 months after that well that's a hard one hopefully move up from there gradually one would think. What do you think yourself. I am still confused on one issue i.e. once our 100% holding is converted do we get the equivalent same 100% value in new $ entity which would mean an immediate uplift from current price say 2.10 to say 2.70 i.e. 30% apx. Am I corerct in that scenario? i.e. if you owned €100 you would then have €130
Started: ashton, 18 Apr 2021 12:21
Last post: ashton, 18 Apr 2021 12:21
Everyone has gone very quite, all still invested? Further update must be due in the next couple of weeks. The recent news on borrowings & finance costs going forward was very good.
Any thoughts on the $ share price in 12 months?
GLTA
Official close in Dublin (Euronext) €2.06
Can't see a downside, people need to eat! Give it a year or two and I suspect €2.15 will be in the rear view mirror. The Future looks Good (not very original)
Thanks for that. So shares currently trading at a discount to 2.15 IPO. If you buy today at circa €2 you should be in profit at IPO of 2.15 and any uplift at IPO also to take advantage of. Shares still a buy IMO unless of course someone throws a spanner in the deal but when deal presented both pty's appear confident it will go ahead without any hitch.
Started: eggshead, 17 Feb 2021 16:00
Last post: flundra, 15 Mar 2021 17:37
If sufficiently unsure and worried just sell before completion and re-buy I guess
Good question. I hold TOT in my ISA too. Someone on advfn holds TOT in a SIPP and thinks it'll be ok.
I don't know, but if Dole plc is eligible to be held in an ISA (Q1 - will Dole plc be so eligible?), I'd hope my new Dole plc shares would be credited to my ISA account without falling out the ISA wrapper. This is because the RNS says TOT will "cease to be listed" on LSE "upon completion of the listing of Dole plc", which I read to mean the combination completes and Dole plc lists (and I get my Dole plc shares) before TOT's de-listing. TOT's de-listing would render holding TOT in an ISA ineligible, but TOT shares wouldn't exist at that point any longer, so it's not a problem. (Q2 - is that right?!). Might be one to ask the ISA provider, HL in my case.
NYS, there are a couple of posts in the ADVFN site about the issue you raised.
does anyone know if i will have to give up my shares as I currently hold them in a Barclay ISA account
Not sure where you get "the price has stalled" closed at €2.09. I have held these shares for 20+ years (Fyffes) I am delighted with the news, this is going to be very good for long time shareholders. You can take it that I have had a very profitable week, well off all time high of €2.56 however give it a couple if years and we will be well above that price. Go Dole Inc !!!!!
Egghead, just another thought, if you own 1,000 shares at the moment then at the time the deal is finalised they should be worth €2,150. When they list in the US nobody knows how many shares you will have however they will be worth a minimum of the $ equivalent of €2,150.
If anyone has a better understanding please post
I believe this will be very rewarding for current holders however we will need some good quarterly reports to really get the SP moving.
Egghead, this is how I see it, we own 100% of a pie, we will own a smaller % of a bigger pie. Depending on how much is raised when we float in the US we will own less again however the debt level of the bigger pie will reduce by between $500 and $700 million.
Not sure if I have answered you query. I think in 3 to 6 months time wi will be better off.
One other point, Dole PLC (Not Inc as I previously posted) will report quarterly and not 1/2 yearly. We need 4 very positive quarters after the listing.
GLTA
Thanks for attempting to answer my question but I am still unclear. Do we retain 100% of our current shares at say the €2.15 price or is this cut to 82.5% of the 2.15 price(i.e. 1.77). alternatively if you own 1000 shares at €2.15 will you still own the equivalent amount at the IPO at €2.15 or will you only own 825 shares(i.e. 82.5% of 1000shares)
Last post: BENCOLLIE, 15 Mar 2021 12:08
Any tax experts out there ? I've been investing in TP for many years, one reason being that they are listed on the AIM Market and also the secondary market in Dublin, therefore they fall outside any Inheritance tax for UK investors. Does anyone know if they will retain this IHT status ? I assume not but hopefully someone might know of a loop hole.
Started: eggshead, 26 Feb 2021 15:58
Last post: ashton, 9 Mar 2021 22:03
Just to clarify my last post. If they raise $700m and we don't participate we end up with 50%, if they raise the lower figure of $500m and we don't participate then we end up with more than 50%, I don't know the exact %.
Hopefully we will get a progress update in a month or 2.
1. We will own 82.5% of the new US listed company Dole Inc.
2. The plan is to raise equity via a placing, total amount between $500m & $700m. However if existing shareholders don't take up or get the opportunity to contribute to the placing we will only control 50% of Dole Inc.
Anyway that's my understanding. If someone knows better please contribute. The very interesting information is that our PE is somewhat lower than similar US listed companies. If and when US investors buy the story the SP should be well north. Bring on $5+ (I hope I'm alive to see it) GLTA
Merger details say minimum value of these shares will be €2.15. I note Total Produce will own 82.5% of new company. Does that mean that we will own 82.5% of our existing shareholding at €2.15 or will we still own 100% of our current holding at €2.15 in new company
At 1st read the results are very good. SP is €2.10, when Dole Inc lists I am very hopeful that the SP will reflect the true value of the combined businesses.
Started: eggshead, 17 Feb 2021 13:39
Last post: flundra, 18 Feb 2021 20:15
Where's an international antitrust lawyer when you need one...lol
Yes, presumably the parties are confident there'll be no issues. Thought I'd flag it though, as we're told new Dole would be "twice the size" of its nearest competitor, something that whichever competition authority/ies has/have jurisdiction will no doubt scrutinize thoroughly.
The only issue could be if they dominated in any one product- ie Grapefruit for instance, had this questioned when Total bought 50% of Outpan South Africa. EU are particular about this.
No offence, but it is a merger not an IPO. UK CMA will have no input as future listing will be US, and primary current listings are Irish and US.
You would imagine this would be explored already. After all thay have in effect bein trading together for a few years now and no issue has arisen. Only thing to delay this now is poor matket conditions for an IPO but hopefully markets will remain stable until IPO happens.
Last post: andsoforth, 17 Feb 2021 08:58
They open at 9am!
Company shares trading in London but not in Ireland. Can someone explain please?
Last post: flundra, 17 Feb 2021 08:30
Will the competition authorities be happy with Dole twice the size of nearest competitor?
BUT UK and Irish listings will be cancelled, so we may see a price drop initially. RNS give a projected value of over E2 though.
Good news day
Started: eggshead, 17 Feb 2021 08:15
Last post: eggshead, 17 Feb 2021 08:15
Should be positive fir share price after stagnant few years. Will have to see if existing holders can exchange our shares foe dole.
Great to read this morning's positive update, results in March will be good. Pity no mention of Dole.
Started: CardPlayer, 18 Nov 2020 17:04
Last post: CardPlayer, 23 Nov 2020 10:21
nomlungu: thank you
LSE just show the data that has been fed to them by their data provider. The London Stock Exchange just report the transaction once, and in Euros which might explain why the £ denominated transaction is cancelled [other Euro transactions are not reported either]. I have put a copy of the CSV file on the link below:
https://bit.ly/394L1Qq
The £1 million buy seems to have been corrected on LSE!
Can I trust LSE?
Like BAKK, TOT is now 'taking-off'. There are some large TOT trades ... £1 million to day. I only wish I had bought more!
Started: nomlungu, 23 Nov 2020 07:59
Last post: andsoforth, 23 Nov 2020 09:05
This really is rather an exceptional return, given the collapse of food service. We remain on a PER of 8.8, and although leaving the EU may have an impact, this still seems cheap to me. There could be reads across to other suppliers such as FIF and PFD, though these two have already risen in the past few weeks.
Nice
"Sales, Adjusted EBITDA and Adjusted Earnings Per Share are now expected to be slightly ahead of full year 2019."
RNS notification of a position on the way in the next couple of weeks? There is great value here. Closed in Dublin €1.308. Hopefully the SP will be higher when results are announced the 1st week of March. GLA
That's quite a chunky buy
Share price continues to recover very slowly, €1.23 in Dublin this morning. Could be quite some time before we see €2.57. The next Dole update will be telling. GLTA