Duet Real Est Share Discussion Threads

[skyship] 23/11/2015 12:00

Don't see anything untoward in today's Update; though dividend much reduced. However, all part of the final liquidation payment of course:

[skyship] 13/11/2015 17:50

eeza - I've sent you an ADVFN private message...

[eeza] 13/11/2015 10:48

NAV & Div declaration was on 17 Nov last year.

[skyship] 22/10/2015 11:40

Bought back in here today - trade not yet showing.

My holdings in the distressed debt market (CIFU, NBDG, VTA) have all been hit by lower Mark-to-Market valuations. Of course the prices should rise later as loans mature; but book losses in the short-term. DREF presumably not affected in the same way.

With redemption at, say, 27p in just 15months; the GRY here from 23.4p would be a very handy 11.85%.

Do you mind sharing your thoughts on timescale and price targets?

[eeza] 23/9/2015 16:40

Seller in the background every day.
Today no exception.

[westcountryboy] 13/9/2015 21:32

Why does this keep falling? Presumably there is a seller but the behaviour seems illogical unless there is something that I am not seeing. Now at a discount to NAV of about 15%. It did not fall in this way after previous buybacks. I keep buying more!

[eeza] 25/8/2015 14:25

Nice increase in NAV also.

[scburbs] 25/8/2015 13:20

Half year results show continuing steady progress. The mystery on mezzanine loan over Canary Wharf office is clarified. This has been extended to December 2016 to facilitate disposal of underlying asset.

Quite useful to have this loan continue to generate income until the anticipated end of the life of DREF (maybe earlier if they sell asset sooner, but hopefully has prepayment penalty in this case).

[eeza] 23/7/2015 14:56

Bid down to 24p. Another buyback to be announced later.

[eeza] 21/7/2015 17:53

Once again, today, Co repurchased 23857 @ 25.25p and the bid drops to 24.25.

If they keep on repurchasing shares the share price will soon be 0p bid.

[eeza] 17/7/2015 16:53

And once again the bid drops.

[nk104] 17/7/2015 16:33

Another 195,000 shares, 0.27 per cent of total, cancelled today.

[eeza] 14/7/2015 17:27

A further 199k yesterday, Monday, and another 175k today.

And the Sp drops after each purchase.

As you'd expect.

[eeza] 10/7/2015 20:03

And another 199k today - that's almost 1% bought & cancelled this week.

[nk104] 10/7/2015 15:14

When this lot do a buyback they don't do half measures. 0.25 per cent of the share capital lumps!

[scburbs] 09/7/2015 21:24

Decent volume of buy backs since they failed to report Canary Wharf mezz loan repayment on 6th July (definitely the senior loan repayment date per accounts, not 100% sure it's the mezz date too).

Canary Wharf property values have been very strong of late, albeit this is a complicated asset with three tranches of debt and the equity being held by a bankrupt Irishman, although I expect that Partners Group (the junior lender) will be taking over the equity (they have been appointing Directors).

Would be nice if DREF would update the market on current status.

[eeza] 09/7/2015 19:07

And another 199k @ 25.05p, sucked up & cancelled.

[eeza] 08/7/2015 18:20

Another 200k shares sucked up and flushed.

[eeza] 08/7/2015 15:53

Press Release


8 July 2015



Duet Real Estate Finance Limited

(the "Company")



Repurchase of Shares



Duet Real Estate Finance Limited (LSE: DREF), a registered closed-ended investment company incorporated in Guernsey, announces that on 8 July 2015 the Company repurchased 200,000 of its ordinary shares at a price of 0.25p per share, representing approximately 0.27 per cent of the Company's current issued ordinary share capital.



The repurchased ordinary shares will be cancelled immediately, following which the Company will have 73,138,709 ordinary shares outstanding with voting rights.

[scburbs] 03/7/2015 09:11

Loan 2 for £20.7m (master fund amount) due for repayment on Monday. This is a mezz loan over an office building in Canary Wharf.

[eeza] 19/6/2015 13:30

Paid into TDW last night - Yikes, they're getting better.

[nk104] 19/6/2015 12:59

Cash has just dropped into the Share Centre bread basket!

[bandit99] 19/6/2015 11:59

Duet cash in AJBell Youinvest sipp on 18th

[nk104] 18/6/2015 11:46

Yep, I've got LXB too (and a Share Centre account). I was just hoping I'd have seen a line in the Account by now for the 'B' shares.

[eeza] 18/6/2015 11:09

Similar ROC at LXB last week saw ShareCentre 2 days to credit accnt; HL 3 days to credit & TDW 4 days to credit.