Dunedin Ent.it. Share Price (DNE)

Based on NAV of the cash value alone I have just added at 489p

Agreed, why no dividend and/or return or capital ? Also, why the fixation on on a liquidation ? As i have mentioned before surely it is better to let the directors sell all the remaining investments and then go into liquidation , rather than let the liquidator sell the investments at potentially a fire sale value

22/3/24 Annual Results

I do not understand why no final or special dividend when deciding how to return cash. However I do appreciate the commentary below.

"We are now in a position where we have net assets of £34.4m, comprising primarily an investment portfolio of £7.5m and cash (or equivalents) amounting to £26.5m. We have outstanding commitments to funds in which we are investors of £7.6m. We are reviewing the optimum way of returning further value to our shareholders. One of the options open to us is to place the Company into a members' voluntary liquidation, as we flagged in November last year at the time of the sale of our investment in Premier Hytemp. We recognise that shareholders value the flexibility of maintaining the Company's listed status which would be lost once we enter the liquidation process. Our conclusion is that we should keep this option closely under review while seeking to sell as many of our remaining investments as possible. We have only five underlying portfolio company investments remaining.

At the forefront of our mind, when deciding whether to carry out further tenders, is that these tend to be relatively expensive to execute, particularly for smaller amounts of capital. Also, in our experience, many individual shareholders (who constitute either directly or indirectly a large proportion of our share register) tend not to participate in tenders. It may also be the case that those shareholders who hold their shares through ISAs or other vehicles may encounter problems with continuing to hold their shares in this way once the Company loses its listed status following the start of the liquidation process."

488p to buy and 490p to sell

HNY everyone

Yes, i take the point that the liquidation may be "unconventional" to suit the particular circumstances of Dunedin. Presumably the Directors will recognise that retail shareholders form the majority of the shareholder base and will structure the liquidation accordingly.

Now trading ex div which partly explains the lower SP, but still looks good value to me