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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Delek Glbl | LSE:DGRE | London | Ordinary Share | JE00B1S0VN88 | ORD 50P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
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|---|---|---|---|---|---|
| 0.00 | 0.00% | 41.50 | 0.00 | 01:00:00 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| - |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 41.50 | GBX |
Delek Glbl (DGRE) Share Charts1 Year Delek Glbl Chart |
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1 Month Delek Glbl Chart |
Intraday Delek Glbl Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 15/10/2019 | 11:57 | DGRE - Undervalued?!!? | 1,079 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
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| Top Posts |
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Posted at 16/6/2019 16:40 by kenny I think this is the final distribution - look at the reference to "final steps" in the announcement of this distribution.All the best to those holders who stuck with DGRE - it was painful but finally profitable. |
Posted at 08/6/2019 15:46 by kenny Good news albeit I only noticed this announcement today:28th May 2019 Delek Global Real Estate plc (in liquidation) ("DGRE" or the "Company") Proposed Interim Liquidation Distribution The board of DGRE announces that it resolved in its meeting held today (28th May 2011) - as part of its final steps toward winding up - to declare interim liquidation distribution of 1.11 pence per DGRE share. The distribution is payable to shareholders on the register at 7th June 2019, and is payable on 28th June 2019 (or as soon as practicable thereafter). |
Posted at 19/7/2018 01:33 by kenny Tilts - to answer your question, rather belatedly, this was via the liquidated companies sold to the S.P.V. (Jersey agent). Another scam because you needed to have registered, which was impossible if you held your shares in a nominee account. They announced the distribution by letter which gave those registered holders less than 7 days to provide certified evidence of identity. Of course the majority family holding received most of the money because if you did not jump through all those hoops, you lost your entitlement!! After all that it worked out at 0.3p per share.Now the good news - there is a larger amount on another liquidation recovery in the pipeline where that subsidiary is still owned by the group - so this distribution will be to all holders (not just those who were able to register with the S.P.V.). This distribution is, in the notes to the 2017 accounts, indicated as "up to about £1m" which I think works out at 0.74p per share. Liquidator of that company still assessing claims etc so could be a few months and amount may be less than 0.74p per share. It's a small amount but it all helps. I am assuming that DGRE will distribute the £1m rather than use it in relation to the Finnish portfolio described below. What is left in DGRE is a portfolio in Finland which is still underwater - value £88m, debt £97m, less restricted cash of £3m. The debt is being amortised at £2m a year which the company can afford from the net rents thereon with the rest of the net rents being restricted cash against the debt. The company did try to persuade the bank to accept offers for the property at below the debt level (because DGRE receive sale fees and it would enable a final wind up) but the bank's board has determined not to accept an offer which does not repay outstanding debt. If the impasse continues, I guess we will have to wait for about 3 years for some sort of final distribution!! This is unless the value rises in the interim to meet debt lowered by annual amortisation. |
Posted at 31/5/2016 08:22 by kenny Here is a copy of the circular:Dear Shareholder, Extraordinary General Meeting An extraordinary general meeting (the "Meeting") of Delek Global Real Estate pic (in liquidation) (the "Company") will be held at 10:30am on Monday, 13th June 2016 at the offices of Carey Olsen, 47 Esplanade, St Helier, Jersey, JE1 OBD. The purpose of the Meeting is to approve certain distributions of the Company, proposed to be made in the process of its liquidation, and set out below is an explanation of the directors' rational for these distributions, followed by the Notice of Meeting. Ordinary Business Resolution - approval of distribution in specie DGRE has, for a number of years, conducted a strategy of disposing of its remaining assets byway of sale, transfer or distribution, and distributing, where appropriate, available proceeds from such disposals to shareholders. The Board has decided, in order to expedite the progress of the dissolution of DGRE and to reduce costs to its shareholders, to transfer its interest in Haleston Limited ("Haleston") (owner of freehold rights in London) , comprising 3,319 ordinary shares of £0.10 (33.19% of the issued share capital of Haleston) (the "Haleston Shares") and the benefit of a loan having a current balance (principal and interest as of end June 2016) of approximately £1,122,597 from the Company to Haleston (the "Haleston Loan", and together with the Haleston Shares, the "Haleston Interest") to Delek Belron International Limited ("DBI"), the Company's parent company (owning c. 81.3% of the Company's share capital), by way of a distribution in specie ("Distribution in Specie"). The current value of the Haleston Interest is approx. £2.4 million. At the same time as distributing the Haleston Interest to DBI, the directors have resolved to make a cash dividend of 2.18 pence per share (the "Non-DBI Dividend") to ensure that the transfer of value from the Company to DBI and from the Company to the Company's other shareholders as a result of the Distribution in Specie is apportioned and paid pro rata according to the amounts paid up on each issued share in the Company. The value of the Non-DBI Dividend has been calculated by the directors with reference to an independent valuation of the Haleston freehold interest, carried out by Cushman and Wakefield. The directors have come to the view that the distribution of the Haleston Interest to DBI, rather than its disposal to a third party on arm's length terms, is in the best interests of the Company and its shareholders as a whole, particularly due to the following: taking into account the relatively small value of the Haleston Interest, a disposal to a third party would unnecessarily be more complex and would result in the Company incurring substantially higher professional fees and becoming subject to contingent obligations under a sale and purchase agreement, which could potentially delay the Company's dissolution. Action If you are unable to attend the Meeting or wish to register your proxy votes now in relation to the resolution proposed, you should complete the enclosed Form of Proxy and send it, together with the power of attorney or other authority (if any) under which the Form of Proxy is signed (or a notarially certified copy of such power of attorney or authority) to Capita Asset Services, PXS 1, 34 Beckenham Road, Beckenham BR3 4TU by no later than 10:30am on 11th June 2016, or appoint a proxy or proxies by utilising the CREST electronic appointment service in accordance with the procedure detailed in the "Notes" to the Notice of Meeting. The return by a member of a duly completed Form of Proxy will not preclude any such member from attending in person and voting at the Meeting should he or she decide to do so. Recommendation Your directors consider proposed resolution to be in the best interests of the Company and its shareholders as a whole. Accordingly, your directors unanimously recommend that you vote in favour of the resolution. lly Guy Coltman On behalf of the Board Delek Global Real Estate pic (In liquidation) is a Public Company with limited liability and is registered in Jersey, Channel Islands - Registered number 73490. |
Posted at 26/11/2015 15:15 by tiltonboy Having been "fleeced" by the liquidators of REO/Battersea, and seeing how much the Malaysians made out of that scheme, I was intrigued by this:I have no regrets over DGRE, as they delivered wonderful returns. I could just do with it winding up before 5th April, so I can use the tax loss as well. Any news, anyone? |
Posted at 01/3/2015 17:00 by kenny I asked the company if there are likely to be any distributions during 2015.They have replied that there MIGHT be relatively insignificant distribution/s later this year but are unable to confirm this absolutely or timing or quantum. I would guess there may still be about 2p per annum of recurring net rental income albeit until we see the accounts for 2014 (which are unlikely to be available until June 2015) this is a pure guess. It may reach 3p per share but with all the property sales and properties taken back by banks, it is difficult to be certain. Need to see the 2014 accounts to see what properties remain and also what possible NAV remains. Presumably, they are working on selling those properties that are not in a negative position after taking account of banks loans. I think that each property and loan is in a separate company without cross guaranties. Therefore, they are able to walk away from the losers and sell those with NAV and distribute to shareholders. I do know there is a property in Switzerland (last worth about 8p per share) and there are the remaining 2 Metro stores in Germany (likely worth under 1p per share as I think they went vacant). What other property remains unsold is difficult to deduce until we have some more up to date accounts. |
Posted at 18/9/2014 15:01 by tiltonboy Kenny,Doesn't look like the final distribution either. If they closed the book on this now, I would be content. I didnt Tender at the very low price, so have done exceptionally well overall. Of course, I wouldnt complain if there was another decent payout. Just trawling back through the thread to check the last payment, and wondered if you bought any of the other stocks I mentioned apart from JIGI. |
Posted at 18/9/2014 14:02 by kenny Another 8.9p distribution!!! |
Posted at 04/7/2014 15:47 by kenny I looked at the 31.12.13 accounts and tried to work out what is left but it is so complex that I gave up. Also, the notes do not seem to accord with the figures e.g. they say they recognised a £77m profit on the sale of Buckingham Gate in these accounts albeit it was sold after the year end, but I cannot reconcile that through fixed assets or otherwise.There is certainly value left e.g. two Metro stores which are now free of mortgage and to be sold. There also seems to be quite a good net rental income, about 5.9p per share per annum, albeit it is not clear how much of this is restricted in subsidiaries which are underwater with the bank. Such rent will just go to the bank to reduce the shortfall. There are lots of properties which are underwater with the bank albeit both the asset and liability are still in the balance sheet. There is the potential of quite a pop to NAV when these go because some of them are astonishingly underwater e.g. a few in Germany where the property value is less than half the debt! However, the banks seem reluctant to call in the loan and keep extending (I wonder why!!). Also about £5m cash left over from the sale of Buckingham Gate. I would not be surprised if there was still 20p per share or more of value left but I would also not be surprised if this figure was wildly out - either way!! Interestingly, also some hint (via the director's bonus package) that there may be other development property albeit I imagine nothing on the scale of Buckingham Gate. |
Posted at 15/5/2014 06:00 by grollfam anybody received accounts for Dec 13 year end for DGRE ? |
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