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Dartron
Correct
As I posted before the FT gives a free float of this stock as only about 48%, which is a bit higher than yours but who knows when their calculation was done, the point is the same.
The management have a lot of skin in the game and the institutional holders are all very good names.
I made my first purchase in the quiet week between Xmas and New Year, having watched it for some weeks before and it really was "trade by appointment only". Early in New Year it just took off, first in volume & then in price (apparently on a story that Singers had given it a target of 72p).
Results last year were end Feb I seem to recall and since then have had some good contracts, the one which caught my eye initially was 15 Nov 2022 with the Home Office for £10m.
Doubtless, if the numbers for the year are good in February we will have a bit more to bite on, but at present I see nothing other to do than buy them on weak days.
As ever dyor
Malafuster
It would appear so but I have a friend who did this sort of work who told me that even for something very trivial it probably meant it was a fault in their programming and to correct and thoroughly check that all is now OK takes time.
Add to that the fact that most of these people are self employed and are paid by the hour speed, to them, is not really of the essence.
I am not saying that this is the case here but it is very possibly similar.
One would hope to hear something soon though, I certainly agree on that.
AJ Bell have good figures, their SP slips.
Jarvis a bit firmer again today against the trend, when we know where we are with the trusted person we will hopefully see the blue sky again.
It would take very little buying to put this up to 200p, imho, so we wait for an announcement.
Old
Good to hear that more brokers are now starting to look at MERC, one of the issues, imho, was that we have been too much under the radar so we were almost invisible yet there is, I firmly believe, strong value in this company which goes unappreciated.
Scharn/Oldbut
A very pleasing RNS & although I rarely make forecasts on SP movement I suspect we should see a slow but steady improvement as they look very cheap still to me.
Do we know if Dibs has updated his prediction yet ?
Easi
Honestly I don't think it was badly worded, what ever way you look at it the BoD decided that if they paid the promised (expected) divi they might struggle to pay their claims, given that would have finished them as a business they decided to break their "promise", all this because of a 7 day cold snap which is hardly a black swan like 9/11 was it ?
It does raise serious issues over a home insurance company who are caught out by a cold snap. Do listen to the AJ Bell podcast as the laaughing in it when discussing DLG says it all...
eccles
I don't actually think that Easi was talking economic theory but talking what actually happened, imho if you buy shares for over £3 and a few months later those same shares are only worth £1.60 say, I find it hard to see how the company has added value to the shareholders ?
As it also happens, if there are less shares on the market "dividends per share will increase", in theory perhaps you are correct, but in practice in this case you are not, for as we all know their is no divi at present.
These were the points Easi seemed to be making and I don't believe he has misled anyone.
Mary
Not wishing to be a wet rag but if you google "insurance companies that have gone insolvent" and click on the PWC heading you'll see they are currently involved in 33 insolvent insurance companies, including previously venerable names such as AA Mutual which was similar to DLG who they do 50% motor.
Across the pond AIG needed to be bailed out you might recall and they were massive.
Closer to home asbestosis almost caused Corp of Lloyds to close but they restructured at huge cost.
So it is not only "win win win".
Well with 787,000 shares traded in the first 45 minutes today and the offer now at 25.5 something is still going on.
Looking at the charts it is easy to get greedy but when we see their numbers (about 6 weeks away if timing is same as last year), it really could be pay day !
Do remember too that the management have a lot of skin in this game, & at much higher prices than this.
We are seeing some serious volumes here, especially when I first bought some just after Christmas, 29 Dec, they had been for some time a "trades by appointment" stock, today we are currently at over 9.5mill trading, which what ever way you cut it, is major for a stock with a free float (according to the FT) of only just over 71mill.
Someone has to know something !
The biggest II is Premier with over 10mill, Cannacord have 4.8mill, Chelverton, Berenberg, Independent IT & M&G also all have over 4mill each so a decent looking holding list. They are now up 7.6% on the day, may we have a few more days like today...
Ailie
Something is out, surely ?
We believe Singers issued a report last week according to the rival board but there are a serious number of trades going through today which for holders is most promising...
nicknaim
I took my punishment on this one as soon as I could, I agree with you, why hold a dividend share if it does not pay a divi ?
Very poor management but I guess, in hindsight, the sharp reduction in share buy backs was a good pointer...
SD235
Interesting piece and a good post.
Knowing that MUT was increased by Perpetual trust (which like you I had but sold mine on the 98% of nav offer on the merger and entered MUT not so long ago, say a year / 18 months, after I saw the ongoing fees came down which to me is an important factor & my guess is when the next figures are out we'll see the divi reserve building nicely.
So in a nutshell I play the divi reserve off against the discount and lower fees.
Sharnhorst
Even a further 25% increase in the Cub's tp would be a tad short of todays 35p offer.
Whilst you were presumably in the same youth league as the previous Pontiff, and Angela Merkel, many of us were in our 8 to 11 years in the Cubs, where we used to dib dib dob to the Akela.
Do you think our man got his multiplacation badge or did he stop at the cooking badge ?
Certainly seems to have been a memory for him eh ?