Member Info for devonplay

LOL

"something must be slipping out in advance"
Maybe they are just anticipating the October update? LOL

I can only tell you what they've done in the past. As you can see from the history; Interims end of year (November/December), Annuals (year ending March) September/October.
There rest is down to your interpretation.
If you can find an RNS saying something differerent, let us know.
"Company was a much smaller slimmed down entity" you mean smaller than 1 shop and £10m t/o? LOL
"There seems to be little point in issuing full year updates in say September, and the half year one just a month later?"
But you can agree that's what they did last year?
Consequence of that major block of holding....they can move to their own timetable to a greater extent.

This is the entry from Companies House;
Date 17 Oct 2019 AA Full accounts made up to 31 March 2019
Are you sure it's expected now?
Last year;
Posting of Annual Report and Notice of AGM
RNS Number : 8620M
Stanley Gibbons Group PLC
19 September 2019
and
Interims are normally November/December.
If I'm right you should expect the end of year, 31 March 2020, sometime towards September/October.
Relevant search from Investgate of all RNS event;
https://www.investegate.co.uk/Index.aspx?searchtype=2&words=Stanley+Gibbons
I might have missed it, but it doesn't look as if they provide an end of year RNS around this time of year.

"The judge said the appointment of any "provisional liquidator" was not urgent as there was no evidence to suggest that Debenhams' assets or documents needed to be secured because they were in any danger."
- it looks as if Frasers Group have tried to petition for a liquidation process as creditors...if that's the case, it won't have an impact on the shareholders of Debenhams PLC.
It just means the Fraser Group can pursue an agenda to have Debenhams (as owned by Celine) move to a liquidation footing and make it a target.
It's just a rehash of the case they lost early in the year with a new strategy. But, as times had passed, and the business has been impacted by covid, then it's an even less valuable vehicle.

https://news.sky.com/story/coronavirus-debenhams-negotiates-reopening-deal-but-hundreds-of-jobs-will-go-11996234

A less speculative piece.
"Debenhams says it has negotiated a deal with landlords allowing it to reopen most stores in June but admits some jobs will be lost as it grapples with administration."
-This is the protective Administartion the new owners of Debenhams applied for. I think the term they used was " admin lite" from memory.
Not the process of dissolution Debenhams PLC is in.

" despite the commonly held view" it's not a "commonly held view" the company, Debenhams PLC, is in the hands of FTI Consulting (Administrator) and they have issued a AM23 "Notice of move from administration to dissolution".They've also said there's little chance of a payment to shareholders of Debenhams PLC.
Sports Direct aren't shareholders of Celine Group Holdings Limited, the present owners of the Debenhams stores.
I wouldn't get excited about it ~
Debenhams debt now trades at a YTM of 500%. That suggests the market put's little expecation of them surving. If they did collapse, holders of any senior secured or senior unsecured debt would be way ahead of the Shareholders of Debenhams PLC (that is heading towards dissolution) . Given that yield on the debt, it's gone way beyond "Junk", the market believe there's little chance of recovering any of the outstanding value/indentures. What equity value, if any, would be very little indeed. No one is going to turn the clock back and get re-instated at anywhere near the value the business left the listed market. Even if there was a tiny possibility of that happening.
There's always hope, but it has to be tempered with a dose of reality. Most likely SPD are still smarting at losing the court case and sense blood in the wate. You don't have to go far to see how stressed retail is at the moment.

"SGI will struggle to get through the 3p barrier."

But will it hold on to the 2p barrier. I'm not sure it will..

Thanks. Overall I see no strong reason against investing in Duke. I just think at the moment for income investors there's stuff around that offers superior income, and potential capital growth, for less risk. To be fair much of that is in the institutional markets. I'm not investing at moment, but will be keeping it on my watchlist alongside other. On the listed front; BioPharma Credit, New City High Yield, Hipgnosis (2 of those are also royalty inclusive). I'm also watching the very well respected M&G Strategic Corporate Bond fund, but investing in their short duration global high yield fund. On capitals markets, debt from Very Group, Saga, NewDay and Iceland.
Yes, much more likely, hence my concern about the Irish economy. If that does get hit my a double whammy there might be more interesting and defensive assets on fire sale. I'd like those more than recruitment. I haven't looked at Wellnet in any great detail. But my gut feel is alongside marketing, in any hit, capital expenditure on that kind of infrastructure might be a big casualy. My other concerns is that some of the funds mentioned above have very expansive portfolio's - over 100 holdings -12 feels very concentrated with a lot of risk about.

Sorry Genghis15, when I read that back it sounded pushy - that wasn't my intention. I'm always busy this time of the morning dealing with RNS and overnight email. Good luck with your investment.

"There's a lot of recruitment in portfolio, not an area I really like. Although on an initail look throught there did appear to be some of the more resiliant areas and exposure to the public sector - but Ireland might suffer from that double whammy of hard Brexit and Covid-19. Maybe that's more risk than I want."
Is what I said, and that I was also concerned about how much additional risk there might be from it being Ireland focused. I didn't/couldn't make a more detailed view of their individual exposure to the underlying risks of a hard Brexit and general covid related down term. Here's what Duke say about the relevant companies:
"Bakhchysarai (Ireland) Limited (“BIL”) was founded as an investment platform in 2018 in order to build a diversified portfolio of strategic and synergistic investments within the Irish/UK recruitment sector."
"Berkley is a trusted international resource partner with over 20 years of operational experience. The Company provides recruitment and consulting services to a long-standing list of blue-chip clients across Ireland, with a specific focus on the Business and Technology, Life Sciences and Engineering sectors."
"Established in 2006, Welltel is an Irish-based business communications company led by founding CEO Ross Murray. It is one of the largest independent voice and data providers in Ireland, selling integrated telephony systems and connectivity solutions to over 3,000 corporates and government bodies."
I appreciate Welltell isn't a recruiter.

Big start to the day. My portfolio is up and plenty of blue. First buy of the day for SGI £72.

Couple of sells so far today. Still holding up. Blue most of the market.

"We're only shareholders after all....."
You mean only minority shareholders after all. Yes, that debt. They don't need a shareprice rally to return their capital.
Massive DOW rally on the books today. You'd expect London to follow tomorrow. Given the inverse nature of this one....another down day tomorrow?
Yeah, "SG has momentum behind it", BUT it's supposed to be to the upside, not down LOL

You alreay know the main holders control nealy 70% of the equity. That means they can pretty much carry any vote.
That's very significant for minority shareholders. It also means they have little recourse to you, as major shareholders.and major debt holder.

Sea of blue out there.
Maybe people think of this as an alternative? So when the market up this goes down as they move back into more mainstream assets. Don't depair, we get a flu epidemic every century or so, plenty of time to build a sensible position. Except there not that much free float.

"I was keen on these pre virus but the risk here is high due to their borrowings."
I mainly invest in deb and equity, so these sort of interest me. I've been having a look through the portfolio companies:
https://www.dukeroyalty.com/partners
Not one, I felt, would offer an easy defensive ride through a prolonged period of economic downturn.
I did find LYNX Equity quite interesting https://www.lynxequity.com/ as there's got to be some "cigar butts" (may be) in there, but again nothing that appears to be recession proof. The "not-for-protit" insurance broker might be in at least calmer waters, but not the not-for-profits themselves. I thought of picking up a pocket size holding, the sort of thing I buy and foget about on the basis that it's just noise (with some cash income), but I'm now hestitant about that - there's debt with greater yield, more security and in household names available. For instance NewDay 7.375% February 2024 has c18% yield (at the moment) if held to maturity. Not sure 11% on their paper does it for me. Maybe short term appeal for traders, but at the moment for total return it could take as quickly as it gives. Remains on my watchlist for a day when everyone is running towards the exit.
I'll be interested in seeing how European river cruises fair over the next twelve months. I think if I wanted to play in that "water" ;) Saga's Saga 3.375% May 2024 might be a better punt. At least there's a large number of equity lnvestors who will offer the first line of default - and it's offering over 11% cash.
There's a lot of recruitment in portfolio, not an area I really like. Although on an initail look throught there did appear to be some of the more resiliant areas and exposure to the public sector - but Ireland might suffer from that double whammy of hard Brexit and Covid-19. Maybe that's more risk than I want.

My pleasure.

wot rally???!!

Although the company isn't listed any longer it's still in existence (for the moment), but is in the process of Dissolution.
As per this notice from the Administrator (from 17 March);
https://www.fticonsulting-emea.com/~/media/Files/emea--files/creditors-portal/cip-emea-public/debenhams-plc/form-am23-notice-of-move-from-administration-to-dissolution-17-march-2020.pdf
So, it won't be in your account for ever. The process just takes time. Debenhams PLC still exist, isn't tradeable, but will be dissolved in the near future. It's very very unlikely there will be any different outcome. As it's still a legal entity, you are still a shareholder for the time being.