Member Info for MattTheBrave

Yep - I switched a block of shares from IG to CMC on the day of the fall, and then added the IG back after it fell a further 10% afterwards. I'm now up to my neck in spread betting stocks based on low valuations, high yields and incredible cash flow generation. I think the market has these stocks all wrong at the moment!

...and just bought half of them back at £4.92.

....on 30 June at 611p and said I'd buy back below £5. Looks like I may well get the chance today!!

Nervous Rex is wrong here. This isn't 'a way round' the lock up. Clearly the Global book runners (who will have been directed by the management of DT) have decided that if the demand is there at these prices, lets get this overhang ('cause there going to come sooner or later) out of the way. Pretty sensible stuff IMV. I also meant a share price fall which allowed some of us who let stock go a few weeks back, to but back in - Hurrah!!

If it's all gone quickly and the discount not too big (3%-5%) then the effect will be muted/short-lived I think.

Looks like two of the initial investors selling $225m of existing shares via an accelerated bookbuild. Will be interesting to see (a) how quickly they fill the book and (b) at what price. Could be that this was in the background hanging over the price in the last few days.

...at 206p this morning. It's clear that Institutional and retail issues will be oversubscribed at the offer price.

You'd better hope the SH's agree, 'cause if not, you'll lose your 1125 floor. For the management to agree this deal, they must know there's some big challenges in the business (CFO's share sales at higher prices does nothing to dissuade this view). I'm out this morning at 11.60, and very happy to have done so.

Price is above 1125p as market is speculating there will be a higher one, but there's no guarantee. I'm happy to exit at 1160 and leave anything above for the speculators. If they get it, then good luck to them I say.

I just added at 798p. This share price makes no sense after H1 numbers. Single digit PE, yield over 5% for a company with growth, low capital intensity, and huge cash flow generation. I think it's worth £15 today, so £21 over the next 2-3 years not ridiculous in my view.

Terrible bid, but supported by management and largest shareholders means it feels like a done deal. Still I can't really complain as I only bought in August and have netted a 30% gain. Ho hum. I'll take 1150 and move on I think.

OP - I'm a big investor here and in MCRO as well. MCRO clearly has a large legacy business which is shrinking whilst DT is in the foothills of a potentially massive mountain (with crevasses along the way) hence the different valuations, but both stocks are solid holds.

The difference with TP is they don't have Conflicts or the incentives points raised about CSH.

So, the letter finally clarifies the details of their negative rationale and provides the evidence and backing for it. Quite worrying reading and certainly poses a number of questions for management to respond to. I'm sure much of this will be addressed by CIV when they respond, but I'm also sure that some of the issues raised will have some validity, and there's plenty to worry the market prior to CIV's response. I've switched half my holding into SOHO here to diversify and will await CIV's formal response.

I never said you spoke the truth - quite the opposite. Your position means that you will only consider this issue from one angle. I like to hear all views providing these are from a position of impartial rational thinking. That is not what you were doing IMV. I'd be interested to know what your employers think of you anonymously posting on boards like this - have you told them?

Ex div 30.24p today in case anyone was wondering.

CH - I don't think you should be posting on these boards due to (a) being a potential insider and (b) having a huge axe to grind in this industry given your directorship of a failing (presumably) poorly managed RP. On this basis I will report your post and let LSE decide whether your continued contributions are appropriate.

Wow CH, you're now defending your position based on syntax? LOL.
And the funds they are using are based on properly contracted rental income for the provision of homes for the vulnerable. Or are you suggesting we shouldn't be using taxpayers money for this?

Latest holding RNS shows that whilst BR had opened a short position, they also had a long position over 5% so they were still net long. On Friday they took this below 5%, but also took the short below 0.5%. What we haven't see yet is who bought the 20m shares at £1 at the close on Friday, unless it was placed with multiple investors. However, it seems unlikely that they would have been able to place it at a premium to the price at that time.

"The Board notes the recent decline in the Company's share price, which it believes is associated with activity from an activist short seller as well as recent press coverage, the content of which it believes to be baseless, incorrect and/or misleading. The Company has spent the last week engaging with major shareholders to discuss the recent activity and remains available to shareholders that wish to engage further. The Board and Civitas Investment Management continue to have great confidence in the Company's assets, revenues, business model and strategy. Moreover, the Company continues to perform robustly. "