Member Info for Fallingknife1

Yes think you are right Phil about some production coming earlier. The nurseries have to be planted etc. It could be tested sooner at the nearby mill but to get to production would take some time. Perhaps Rugs or CAT can confirm if I have the timeline right.

at communicating with shareholders. I heard that compensation from the insurers for the summer disruption will well run into six figures. Guitry will take 5 years to enter production. There is an existing mill nearby where they can pilot viability. The implementation of the 13 years tax exemption for Guitry will only begin when they are closer to production. RSPO is a work in progress. It is slow and tortuous. They haven’t put a foot wrong so far. Nordpalm have it and DKL reckon they have better systems. Company owned land accounts for 5% of supply currently. I asked about hurdles for the next year. Youval said his wish was for connecting better between farmers. Concern was raised by two shareholders about SP movement in advance of good news and the persistent selling before q2 poor production figures which when announced had little effect on the SP possibly due to how far it had fallen already. Lincoln’s response was rather bristly and that he followed trades very carefully and was hawkish about it and there was nothing unusual. My response was the view that there was fairly common belief among some shareholders that there were unusual trading patterns and that it was not something that shareholders raise lightly. I was going to ask about the benefits of the Euro strengthening but didn't get to it. It should be remembered that these Euro profits will translate very well into Sterling. The Board were very open and honest today and answered questions very frankly and fully.

One shareholder was unhappy about the authority to the allotment of 20% of the company shares (Resolution 2.7). Although initially defended as industry norm there was an offer to reduce this to 10%. However this was not possible. The company asked for permission to buy back 5% of the company shares. I asked whether it was for cancellation or to be held in treasury and Youval said for cancellation. I was rather surprised that this was not specified. One investor aid he did not agree with share buy backs as they had been proven not to work. He did make a passionate argument against them but the motion was carried. I personally am tempermentally opposed but voted for in this case as it might prove some mitigation against Dumper Dude. I also feel that a relatively illiquid share like DKL will benefit from the company being ready to step into the market. Biopalm are not selling. They are subject to a hard lock in and then a soft lock in. Biopalm would need the Nomad’s permission to sell and has to maintain an orderly market Dividend:DKL are committed to a policy of 10% dividend growth for 3 year. Having committed to this they would not want it to be a case of either or in terms of a takeover for Nordpalm. The board said they have shown their expertise in terms of securing funding and having a partner already The formula means the dividend is based on 11.8p per share. CAT wanted a scrip divi but another investor thought that it can be tricky with some brokers insisting you take all your shares as scrip or none. 2016/17 was a very heavy year for CAPEX. Next year will have substantially lower Capex and higher FCF. There was some discussion about the political situation. 2020 could be an issue as with all African countries come election time. There are 5000 elite soldiers from a French unit stationed there which provides stability. No-one wants to go back to the civil war which benefitted no-one . IC is not as ethnically divided as other countries and the civil war issue stemmed from the north and was concerned with issues of statehood and redrawing of boundaries. Rugs raised the issue of Biopalm not being listed as shareholders. This seemed an oversight and was promised to be corrected. The board said no TR 1 was issued by Biopalm. No buying of shares in Nordpalm so far. Discussions are ongoing so limited in what they could say. Although Ghana is bigger at 10000 hectares Norpalm has a mill and is currently producing so seen as a better option. Ghana is still ongoing but more focus is on Nordplam right now. The second boiler to be operational by December. Both can run simultaneously. It can take a day to switch between boilers as it needs to heat up. The company had contemplated RNS’ing the boiler delay but see the quarterly updates as the appropriate means unless there is something that will materially affect the SP. They repeated their statement from last year that in AIM terms DKL are actually one of the better companies at commu

Apologies for it being quite long as I just like to record what was said. There were two regular other shareholders plus a gentleman there today who I don’t think posts here. He was quite knowledgeable on the law and put some good points across. So a fourth wise guy in effect. Miss Arav and Yehoshua Sahi Kol were not present nor did Kol give a Skype interview as he did last year. Speculation on my part is that they are working on something serious. Whether it is DKL connected or not I can’t be sure but maybe something is in the offing. The first discussion was around payment of smallholders. First-timers need to register and be put on the system. They have an option of cash up front or payment at end of the month. The latter is the company’s preference. A bonus is paid to those who take cash at the end of the month. Those who say end of month can change their mind if they wish. This seems quite fair to me. One shareholder was concerned about the actual law that DKL was incorporated under and asked for an explanation as it was under Cyprus law with amendments to the Companies Act 2006 (to comply with AIM regulation) but the accounts contained a reference to being under US law. He also said he had not received a copy of the accounts as required by the Companies Act 2006 despite being on the register in Cyprus as he had written to them last year specifically requesting this. There are three logistic centres which farmers can drop their fruit to. Interestingly bad weather can delay delivery to the mill by up to three days. A shareholder asked how long would fruit last, suggesting a week- and he was told three days and that a week was probably too long. The board was asked if the boiler problem caused any residual problems with suppliers who might take their supply elsewhere and the response was it caused no issues (in terms of confidence in DKL). There are two different approaches to quality control according to whether it is high or low season. High season involves sampling. Low season can involve spreading supply on the floor and sifting through. The Gentleman asked about the customer base where 3 large customers account for 83% of their customer base. Youval said they were looking to expand that. In IC the company are quite lucky in that there are 3 large refiners. Most African companies have one or none. Therefore there is some arbitrage in the price they could get due to competition between refiners. There is a Dreyfus facility in Ayenuoan which will be able to export to Europe. Though not brought up at the AGM this seems useful if we got RSPO accreditation which the EU might require.

and having bought in on a spike I think I will ciut my losses at 10p. I like the company but the SP direction is becoming baked in. Better to riisk s sell at the bottom than see all my capital whittled away. I am quickly losing patience here.

who held on or bought in. Never invested myself because of the trading pattern so hats off to those who did invest. I still don;t like the abrupt changes in tone between the various RNS's and lit up which spooked the market by turn. Interesting that the SP hasn't gone any higher but am glad to see brave and patient investors get rewarded.

Thanks Phil. I will try and get some specitics on that for you.

to see investors tucking into Greggs this lunchtime! Looks like people have properly digested the results or been impressed by the investor presentation. There has been something like a 67p swing between bottom and today's high if you were lucky enough to call it. The strong recovery gives me optimism that we can move into a new trading range.

Morning Jim. I think a depper reading into the results led some investors to focus overly on declining margins and consumer discretionary spending as well as some sell on the news brigade. The strong bounce back from the sell-off suggests that there is little downside here witha decent dividend and everything more or less on track. Like for Like sales are still growing evn though net shops are growing apace. Any falls should be used as a buying opportunity as anything below £11 is surely too cheap for this share. No real bad news today and the market has reacted accordingly.

I am pretty sure I will be there and would be happy to ask some questions in the company of CAT and Rugs. I will do a small write up afterwards for the BB. Post your questions here or messafge me if you would like to keep it private.

seem ok to me with some very good parts. Cash generation is strong and refurbishments set to slow for the next few years so perhaps a special divi might appear next year. Nice divi hike of >8%. The input costs plus the impact on margins with a wary eye on consumer discretionary spending seems to be the takeaway from this. After a small rise on opening these were sold down but are now recovering. I expect any losses to be clawed back during the day as investors see the company is on track and the divi is progressive. Solid but not spectacular.

developed a thirst for this one this afternoon. It has been flat for quite some time but this afternoon's 1.5% rise is a tonic. It might be divi hunters buying in or some broker recommendation but welcome relief to see this share rise up.

today with someone shelling out 15k at almost full ask, It might be Gathering Guy accumulating more. Looks like the MM's will ask for a premium for large amounts as 11.88p seems to be ask for smaller amounts. Buyers are outweighing sellers but there is no real test of 12p resistance. Are we going to have a pre-agm rabbit come out of the hat by Thursday?

here and invest before results. The spread is quite appealing and tomorrow's update should provide plenty to get your teeth into. The SP itself is still quite appetizing up to £12 I would say. Fed-up investors and those sell on the news punters might cause a hiccup tomorrow but surely the shelf-life of any fall would be fairly limited given the fundamentals here. A return of capital might be small cahnge to the company but would crtainly whet the appetite of income hungry investors!

There is still huge growth to come in E-commerce as well as its gobal expansion. The SP was fairly pummeled when it hit a low of 2325p but like all premium brands it has a resilience. In terms of Orangetree's scenarios bar a PW scenario 3 is impossible and comfortingly they have said they are on track to meet forecasts in the recent TU. Scenario 2 was feasible but requires a 20% drop from here at a time when we seem to have upward momentum. New highs would be nice and today we had 2536 on the ask briefly so perhaps we are set to break through 2525 which seems to be rsistance for now.

again and quite rightly too. Their excellent contracts should start to feed through to the bottom line. I think the fall below £30 has been overdone and we are gaining upward momentum here. I see 10% upside from here.

*Equipment for the nursery at Guitry has now been ordered and will take approximately four to six weeks to arrive. *the Company will undertake a feasibility study for a 15-30tn per hour CPO extraction mill *Under the terms of the agreement, DekelOil is to develop the land and convert it into oil palm plantations *Social and Environmental Impact Assessment and water surveys at the site have been completed. The next step is to work closely with the smallholders to determine the initial size of the mill at Guitry There is a good mixture of completed work, work underway and work to be done. Rugs or the AGM can provide better timelines. I give the company credit because Guitry was always mooted to start in 2018 Would it be fair to say we will be operational by 2020? The feasability study could be done when live operations start I suppose unless you just test the supply and do an assumed production to save the expense of setting up a mill.

Fair play Stag. I wish you and Observe well on this one. IMO it should never ever be listed. However you can make a turn on it if you get it right. I tried myself but failed. Maybe this is the bottom but as it seems to be only hot air and false promises I wouldn't even dare to guess. Check back on the many trials upon trials with no results. Beyond terrible!

Must be worth a small punt...... if you are wired to the moon that is. I would call it a "pie in the sky" share but it is not generating enough heat to warm the oven. It might look cheap at .135p mid but even that is too deer, Stag. If I were you I would doe some research into the company itself and save my money for any power cut. If you invest in this crock you will soon be wishing you never herd of the company. You'd be better off going on a stag do to Ayia Napia and getting blootered.

9.5p on May 25th 2017* that should say