Dawnay Day Carpathian Share Discussion Threads

[hectorp] 25/7/2008 15:28

These macroeconomics are useful Aleman, how do they tie in with the economics of the 6-7 territories of our company.
I see we are certainly holding the fort in the mid 40's this week which is promising.
H.

[aleman] 25/7/2008 14:49

Euro money supply fell from 10.5% to 9.5% last month. This bodes well for the future of interest rates suggesting the next move from 4.25% could be down.

[aleman] 25/7/2008 10:29

Polish June unemployment 9.6% down from 10.0% in May and 12.4% in June 2007. Retail sales forecasts for 2008 still around 14-15%.

[hectorp] 24/7/2008 18:28

Off 2.5p.. just swingin' around.

Over on Dolphin DCI, over 15M share trades today.

[cezary] 24/7/2008 10:31

Monetary Policy Council member feels Poland's economy is relatively isolated from global slowdown

Warsaw, Poland July 24, 2008

Poland's economy could grow at a 4-5% rate in 2009 with its relative invulnerability to a deeper global slowdown stemming from positive prospects for further improvements in productivity, rate-setter Andrzej Slawinski told Rzeczpospolita in an interview.

"The scale of GDP growth slowdown will to a large extent depend on how the currently deteriorating economic growth in Poland and abroad affects expectations of economic growth in the future as this to a large extent influences investments of Polish firms," Slawinski said.

"I hope, however, that GDP growth will stay in the 4-5% brackets next year."

In the light of a global slowdown, Poland's economy should be saved by its ongoing modernisation, Slawinski argues.

"The inflow of FDI and domestic investments makes efficiency grow and it will long grow faster than in highly developed economies,"
according to Slawinski.

"This will keep our GDP growth from falling as much as in the euro zone."

[hectorp] 24/7/2008 09:36

Morning jonwig
indeed so. Also the name change and general distancing from DD in these daily news rounds won't be too soon. All this has kept a bit of a lid on the price IMO.
However I ws delighted to be adding at 39p recently ( averaging down from 80's).

[jonwig] 24/7/2008 08:04

Well, the departure of PK is confirmed. Who is appointed to replace him might be a useful guide to future strategy.

[hectorp] 23/7/2008 21:39

welcome aboard cheadle.

[cbeadle] 23/7/2008 21:18

I am long with this The yield is nearly 16% and in the countries DDC is in there is little sign of the Anglo_US credit crisis that has crippled our commercial and residential market.
The other bonus is that the net assett value,already extremely discounted to the share price should gain from currency appreciation at the expense of sterling.
It seems too good to pass over but it has been tarnashed by the same negative sentiment as other property stocks

[cbeadle] 23/7/2008 21:18

I am long with this The yield is nearly 16% and in the countries DDC is in there is little sign of the Anglo_US credit crisis that has crippled our commercial and residential market.
The other bonus is that the net assett value,already extremely discounted to the share price should gain from currency appreciation at the expense of sterling.
It seems too good to pass over but it has been tarnashed by the same negative sentiment as other property stocks

[hectorp] 23/7/2008 11:58

0.25p spread today to attract sells? possible order to buy in the wings for later IMO.

[hectorp] 22/7/2008 13:53

jonwig
re post 1930, I agree, will be looking at DCI.

[jonwig] 22/7/2008 11:59

H - post #1930. I flagged up DCI the other week, a discount of over 60% to NAV and gearing of only 13%.

So I think DDC was on the skids anyway, but I guess the last stage (from around 60p) was 'inspired'.

ew2 - post #1931. Are we 'barmy'? I take exception. 'Balmy' some evenings with a single malt in the garden.

[hectorp] 22/7/2008 11:56

Well, I know what yield I would rather be having coming in, but in every other respect, assuming NAV's remain decent, I will be sticking with DDC.

[aleman] 22/7/2008 11:01

Also, the portfolio is valued on a rental yield around 8% not a stoopid 5-6% as for DDC

DDC's yield at last December's year end was 6.4%, as was the June acquisition. DDS's yield at its March year end was 7.7%.

[hectorp] 22/7/2008 09:42

DDC CFU and RUS all on the move.

Thank heavens Klint and Nagar didn't hold larger holdings of DDC.
-Has this DD fracas been the root of the fall in our shares from over 100p to 38p recently.
There is no other substantive reason.
No doubt vulture funds are eyeing up little DDC with laviscious lips.

[hectorp] 22/7/2008 08:36

O/T jonwig, our CFU are on the move.
H.

[hectorp] 22/7/2008 07:59

Aleman, ina bear merket any excuse sends a share down, but good news barely registers.
I took this into full consideration however by adding stock at 39p recently. A disposal at a 'fair' price would appear to be a geared piece of income by comparison to the currrent market cap.

[aleman] 22/7/2008 01:28

Kimboy2 - 21 Jul'08 - 23:06 - 1924 of 1926

It is not a major issue as it is only 1% of the shares in issue.

£5.76m is not minor issue in the context of a £100m market cap but neither is it massive in the context of £288m net assets or £691m gross assets. It depends on what they were planning to do with the cash as to how important it was. It may have been planned in for something as they knew the money was coming, but not how many shares they were issuing for it. Once again though, given the falls in the shares from the forced selling, it is already more than discounted in the price if everything else is okay. The bigger factor to worry about is how this year's planned disposals go as the sums will likely be significantly bigger. An imminent announcement of a disposal at a reasonable price would alter the outlook considerably as the cash involved could be substantial in comparison to the market cap so nothing has changed that much really. It begs the question why the shares are falling again, though, if today's news isn't that significant.

[kimboy2] 21/7/2008 23:38

In the end it will depend on what the fine print says in the contract but I would suspect that some clause about administration etc would be standard in terms of negating the contract.

The phrase in the RNS was that 'the shares may correctly be transferred to these appropriate entities'.

That phrase could mean who are they to be given to. 'Correctly' could also mean are we going to get paid for them.

We will no doubt see but not a big deal either way other than it may be another 2.7m shares seeking a home rather quickly.

[al101uk] 21/7/2008 23:26

Hmmmm, I read it slightly differently. I read it as they are seeking clarification on:

1) How the shares should be transfered
2) Who the shares should be transfered too

with the administrators, not if they should be transfered.

Read it again and maybe my more optimistic reading is a little less likely, but still possible :-/

[kimboy2] 21/7/2008 23:06

It is not a major issue as it is only 1% of the shares in issue.

However as I pointed out earlier it did say that the shares would be subscribed to. It is part of the contractual agreement that DDG have to buy these shares.

The RNS today seems to make clear that the Registrar is going to make sure they can cough up before they are transferred.

FWIW I don't think they will be and the administrator will not want to buy shares with a current value of 50p at 102p.

[jonwig] 21/7/2008 19:32

Wouldn't this be fascinating if we weren't involved ourselves!

As it is, the sense of humour gets a bit stretched.