Share Name Share Symbol Market Type Share ISIN Share Description
Dolphin Capital Investors LSE:DCI London Ordinary Share VGG2803G1028 COM SHS EUR0.01
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.55p +6.87% 8.55p 7.60p 9.50p - - - 0.00 07:41:42
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 38.2 -120.2 -13.3 - 77.35

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Dolphin Capital Investors (DCI) Discussions and Chat

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Date Time Title Posts
07/12/201617:34DCI - Unusual Trade Action92.00
05/12/201622:151.855 billion euro assets/NAV 173p....sp 32.5p281.00
15/11/201611:05Dolphin Capital14.00
13/10/201614:55DCI - Unusual Share Trades but Little News as yet-
07/9/201207:57Dolphin undervalued?174.00

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Dolphin Capital Investors (DCI) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
07/12/2016 17:39:067.95650,00051,675.00O
07/12/2016 17:15:058.001,000,00080,000.00O
07/12/2016 17:15:058.001,122,05189,764.08O
07/12/2016 16:56:018.00800,00064,000.00O
07/12/2016 16:39:037.93650,00051,512.50O
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Dolphin Capital Investors (DCI) Top Chat Posts

Dolphin Capital Investors Daily Update: Dolphin Capital Investors is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker DCI. The last closing price for Dolphin Capital Investors was 8p.
Dolphin Capital Investors has a 4 week average price of 7.17p and a 12 week average price of 6.15p.
The 1 year high share price is 15.75p while the 1 year low share price is currently 0p.
There are currently 904,626,856 shares in issue and the average daily traded volume is 3,106,303 shares. The market capitalisation of Dolphin Capital Investors is £77,345,596.19.
erstwhile2: SO, liquidation mode finally. Rough analysis goes like this: EUR 700m of gross assets and EUR 350m liabilities Manager incentivised to get > 50% of gross asset value If they only manage 50%, equity is nil If they manage 66%, equity is EUR112m, 11c/share, 9.5p/share If they manage an astounding 80%, equity is EUR210m, 21c/share, 18.5p/share Less all the fees and expenses while they go about it. Current share price of 7.5p seems pretty fair. Not for me at these levels
tiltonboy: QS99, It's always interesting to see why people sell...and to have the courage of your own convictions when the share price doesn't move in the direction you expect to continue to hold. This has been one of my poorer investments, being swayed by a change of management a couple of years ago, which I believed would deliver shareholder value in the short term. Sadly, even a change in management was unable to improve fortunes, and the share price continued to fall. Not having a stop loss has proved costly. I am now in recovery mode, with the difficult decision of deciding at what level to cut. I see no probability of getting back into the 20's, so it comes down to the quantum of the cut. I'm not persuaded by the arguments of current NAV. When the previous thread was set-up in 2010, the NAV was supposedly 173p! Write-down after write-down means that even the current 30p must viewed as extremely suspect. I would gladly take 15p as an out. Progress has been made, but looking at the desperation of others to sell, you wonder do they know more than us?
jimcar: BTEM's view on things here "Dolphin Capital, the high end hotel and resort developer, was our largest detractor in another disappointing year for the company. At the beginning of 2015, we added to our position in a heavily discounted fund raising of €75m as the company sought to shore up its cash position. At the time we, along with other major shareholders, pushed for a dramatic reduction in the management fee, change in strategy to focus on five core projects and for a change in board composition, all of which were implemented. The money raised allowed the company to continue operations until the beginning of 2017 assuming no further asset sales. Disappointingly, we have seen very little in the form of sales since then, and the share price has continued its downward trend as the company approaches the moment when it will need fresh capital. While the investment has been very disappointing (down 84% since original purchase), some respite arrived at the end of September when the company announced a sale of their 49% stake in Aristo, a Cypriot villa developer, for €45m, alongside the arrangement of a €7.5m credit facility which has been agreed in principle. While the sale of Aristo was at a large discount to carrying value, it extends the time horizon the company has to initiate asset sales and restructurings with a view to returning capital to shareholders. The company has a continuation vote before the end of 2016, however, in effect, the company is already in realisation mode, as they look to sell assets down."
cascudi: nav 30p , share price 5.5p wow
hugepants: Should be unless they've spent the £45M. I don't understand the directors resigning. They've collapsed the share price. They were there on behalf of the largest shareholder so its a bit like cutting off your nose to spite your face isn't it? Unless there is something else going on.
anley: Interesting results but not marvellous............would like to be convinced that sales will take the NAV up and the share price with it.
anley: Well there is today with the appointment of another broker to get new shareholders in. Seems that good progress is being made even though some cash due from the Chinese seems slow to arrive in the coffers. As to what the share price should be I am not sure but over 40p I hope in the near future.
langostino: There is a UK investment trust Third Point Offshore TPOG which acts as a feeder fund for the master fund. Their web page is regularly updated with monthly and quarterly reports. DL used to write the quarterly reports until about a year ago and they were always worth a read. Still in the archive. I hold some TPOG but the trouble is they appear to have no discount control mechanism so share price lags fund price. Very solid investment IMO
kenmitch: Thanks for both replies and the very clear explanations. A pity that they are not reassuring though and I can see how this could become a vicious circle. None of this was apparent when they issued what looked like excellent results only a few weeks ago - unless I missed it. Also everything I've read from Panmure has suggested that the shares are massively undervalued - which they would be in normal times but these aren't! I can see that there is "massive apparent value" in DCI but that's not much good if the shares are going to halve again. Only at the beginning of this month, David Stevenson in I/C reported that he had bought more DCI at 90p so presumably he didn't foresee this either.Yet the falling share price suggests plenty did know that it was time to sell. It was David Stevenson's ultra bullish article a few months ago that first got me looking at DCI. Wishing now I had never read it! No dividend is another negative - and I guess if there was one they would be cancelling it now! The one thing this does show - yet again - is what a total waste of money the huge share buybacks have been. I've been making this point for some time - buying back shares at a massive discount is even then a waste of money if the shares are going to continue to fall heavily even after those buybacks as the DCI share price has. For me it has been a costly way of being proved right. I guess DCI might well recover strongly in time but for now I've been led down the garden path. If we cannot take at face value news and statements from Companies even at the time they are making them, then how do we work out whether that Company is worth investing in? The banks earlier this year were a classic example of this when RBS claimed that ABN was going even better than expected - and Barclays, equally bullish, were still buying back their shares. I'm beginning to wonder if anyone running many of our Companies has a clue what they are doing.
kenmitch: Thanks Hectorp. Seeing the area for yourself is far better than analyst comment from afar. What you report is quite encouraging. Briefly re. the share buybacks. I've just seen a post on the Dawnay Day Treveria bb reminding us how they wasted their money on buybacks at 3 times the current share price. No doubt the shares were trading at a significant discount then too. So more food for thought there. When buybacks are undertaken at prices as low as the DCI share price is now it should be a sensible use of spare funds - but I'm becoming convinced that it isn't for reasons given in recent posts here.
Dolphin Capital Investors share price data is direct from the London Stock Exchange
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