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DWHT Dewhurst Group Plc

980.00
0.00 (0.00%)
19 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Dewhurst Group Plc LSE:DWHT London Ordinary Share GB0002675048 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 980.00 2,863 01:00:00
Bid Price Offer Price High Price Low Price Open Price
930.00 1,030.00 980.00 980.00 980.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electrical Machy, Equip, Nec 57.96M 5.04M 0.6279 10.75 54.14M
Last Trade Time Trade Type Trade Size Trade Price Currency
11:57:16 O 1,040 935.00 GBX

Dewhurst (DWHT) Latest News

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Date Time Title Posts
27/2/202421:34Dewhursts - a good component for your portfolio?159
10/6/201803:29Dewhurst (DWHT) One to Watch on Monday -
18/2/201321:10Dewhurst20
01/10/201220:53Dewhursts with Charts & News22

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Dewhurst (DWHT) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2024-04-19 10:57:17935.001,0409,724.00O
2024-04-19 10:56:57930.001,0479,737.10O
2024-04-19 08:00:11980.007767,604.80O

Dewhurst (DWHT) Top Chat Posts

Top Posts
Posted at 19/4/2024 09:20 by Dewhurst Daily Update
Dewhurst Group Plc is listed in the Electrical Machy, Equip, Nec sector of the London Stock Exchange with ticker DWHT. The last closing price for Dewhurst was 980p.
Dewhurst currently has 8,021,398 shares in issue. The market capitalisation of Dewhurst is £54,144,437.
Dewhurst has a price to earnings ratio (PE ratio) of 10.75.
This morning DWHT shares opened at 980p
Posted at 27/2/2024 21:34 by coolen
Remember when the voters were briefly over £20 a share (July 2021) -why was that I wonder ?
Posted at 26/2/2024 11:47 by cockerhoop
A search at companies house suggest Ingmar Scott isn't shooting any lights out with his investment performance.

Kneecaps2- I'd say it's pretty obvious (regards share classes) It allows the family control of the company (ie >50% of votes) without owning 50% of the total share count.
Posted at 26/2/2024 11:10 by arthur_lame_stocks
I did read recently that the Stock Exchange was going to allow the fresh issuance of dual share classes again.
Posted at 04/8/2021 09:33 by gengulphus
Just to argue against myself: non-voters are 57% of all shares. If both classes traded at say £10 then each share has an equal claim on earnings. However if the non-voters end up with a only a say 26% claim on overall earnings. That could indeed be a problem. Hmm.

Each share does have an equal claim on earnings: the company's Articles of Association ( ) basically say that in their section 6.1.3, by saying that both dividends and returned capital must be paid in equal amounts per share. That isn't affected by the market price of the shares: DWHT shares are priced higher than DWHA shares because they have voting rights and the DWHA shares don't, not because they have any greater claim on earnings.

Or to be precise, it's not that DWHA shares have no voting rights, but that they have extremely limited voting rights: section 8.1 of the Articles of Association says:

"Subject to the provisions of the Statutes, any proposed variation or abrogation of the rights attached to the A Ordinary Shares, whether or not the Company is being wound up, which would result in such rights not ranking pari passu with the rights attaching to the Ordinary Shares (save in respect of voting) shall only be effective if made with the consent in writing of the holders of not less than three-quarters in nominal value of the issued A Ordinary Shares or with the sanction of a special resolution passed at a separate general meeting of the holders of the A Ordinary Shares (but not otherwise) and for this purpose alone the holders of the A Ordinary Shares shall have the right to vote at such separate general meeting."

The gist of which is that if any company proposal to alter the fact that each share has an equal claim on earnings can only go through if the DWHA shareholders approve it separately from the DWHT shareholders (and they can vote about it despite normally being non-voters). This is of course an important safeguard for DWHA shareholders - without it, the DWHT shareholders could push through changes to section 6.1.3 to give themselves greater claims to the company's earnings at the expense of the DWHA shareholders without the latter being able to do anything about it.

That includes any proposal to consolidate the two classes of share unless it's done on a straight 1-for-1 basis, and also any proposal to amend the Articles of Association by altering that section 8.1 safeguard.

Of course, any proposed consolidation is extremely unlikely to be on a 1-for-1 basis - that would involve the DWHT shareholders (and the Dewhurst family in particular) giving up control of the company for no benefit to themselves. But they'll have to get the DWHA shareholders' consent to the amount of benefit they get to compensate them for their loss of company control - otherwise the consolidation won't go through.

Equally, though, I should amend my statement in my last post that "And with the share price ratio currently being about 4 times, you'd expect their fractions of the consolidated share capital to be in the ratio 4:1.44, or about 73.5%:26.5%.". My thinking at the time I made it was influenced by what I know of the Takeover Code: its Rule 14 basically requires that a bidder for Dewhurst splits their offer between the two classes on that sort of basis. But would a consolidation on that sort of basis pass its vote at a meeting of DWHA shareholders? I doubt it...

So I think a realistic consolidation proposal would have to be on some sort of compromise basis between "1 DWHT share = 1 DWHA share" (which will clearly be unacceptable to DWHT shareholders) and "1 DWHT share = ~4 DWHA shares" (which I very much doubt would be acceptable to DWHA shareholders) if it's to stand any chance of being approved by both DWHT and DWHA shareholders. (And just to be clear, it would need approval by separate meetings of the two classes of shareholder: DWHT shareholders won't be able to vote in the DWHA meeting any more than DWHA shareholders can vote in the DWHT meeting).

But whether there is such a compromise to be found, I don't know, nor do I have any idea what its basis would be if it could.

Gengulphus
Posted at 30/7/2021 10:11 by profdoc
Just to argue against myself: non-voters are 57% of all shares. If both classes traded at say £10 then each share has an equal claim on earnings. However if the non-voters end up with a only a say 26% claim on overall earnings. That could indeed be a problem. Hmm.
Posted at 30/7/2021 00:15 by gengulphus
Typically at Dewhurst the voting shares have traded at around twice the price of the non voting shares so you would expect them to get around 66% of the consolidated share capital with the non voting shares getting the rest.

Currently the ratio is around 4 times the price of the non voting shares so you would expect them to get around 80% of the shares.

It's a bit more complicated than that, because there are about 44% more non-voting shares in issue than voting shares. So with voting shares typically being about twice the price of non-voting shares, you would expect their fractions of the consolidated capital to be in the ratio 2:1.44, or about 58%:42%.

And with the share price ratio currently being about 4 times, you'd expect their fractions of the consolidated share capital to be in the ratio 4:1.44, or about 73.5%:26.5%.

Gengulphus
Posted at 28/7/2021 11:48 by arthur_lame_stocks
Hi Glen

Because they have two classes of share, the voting and the non voting, they may choose to consolidate these into one class of share which may make them more appealing to investors generally.

If this happens they will have to choose who gets what percentage of the company after the consolidation bearing in mind that the voting shares should have an intrinsically higher value than the non.

Typically at Dewhurst the voting shares have traded at around twice the price of the non voting shares so you would expect them to get around 66% of the consolidated share capital with the non voting shares getting the rest.

Currently the ratio is around 4 times the price of the non voting shares so you would expect them to get around 80% of the shares.

I saw a similar thing happen at BLEY which admittedly was never run with the minority holders in mind.

I have no idea whether something of this nature is going to happen but it is strange that this price differential has suddenly opened up.
Posted at 27/7/2021 12:44 by arthur_lame_stocks
I'm wondering whether the growth in the voting shares and the stagnation in the non voting shares is because they're planning a share consolidation on unfavourable terms for the non voting shares as happened at CH Bailey.
Posted at 15/1/2021 12:44 by bench2
Big move in Dewhurst and DWHA ..... , Annual Report arrived today , I will check later to see if anything extra to account for the move ... IC is getting a bigger following but is there something else driving the share price ? The gap between the Ords and A shares is now the widest I have seen . Obviously a tight market in the Ords with no family sellers . Any thoughts welcome
Posted at 10/6/2018 03:29 by danieldanj
Dewhurst (DWHT) Earnings-Reaction to Keep an Eye
Dewhurst share price data is direct from the London Stock Exchange

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