Dunedin Enterprise Inves... Share Discussion Threads

[yieldsearch] 16/4/2013 09:20

Why tender done at large discount to nav?

[jaws6] 16/4/2013 08:44

Tender RNS

[skyship] 29/1/2013 07:36

Glad to hear that they're bidding for stock. Looking forward to the breaking of the glass ceiling at 420p!

[deepvalueinvestor] 29/1/2013 00:11

I keep getting bid 415p by institutions but I want 430p+ to tempt me to reduce. Perhaps they will move out of the 410p-420p range soon?

[deepvalueinvestor] 27/12/2012 22:57

It is encouraging that Dunedin has managed to raise funds for the latest buyout fund. This was the main bear case for the group but management are once again proving themselves worthy of the faith we have placed in them. In short, I may be a potential seller of dne at some point but I am increasingly more relaxed with a 400p+ share price.

[jaws6] 30/11/2012 09:56

Agree plus this will lift NAV from 534 to higher

[tiltonboy] 30/11/2012 08:50

Another Tender in the not too distant hopefully.

[pvb] 14/11/2012 13:05

Can I just ask how peoples brokers_ handled this.

This is the second tender for DNE for me in the same _account. Last time they did what I would have done, scaled the Original Book Cost down in proportion to the shares tendered. This time they have just zeroed the Original Book Cost. So I will have to write another letter to them telling them what to set the cost to. I have done this before in other situations.

Apparently the IT platform_ isn't up to doing the job automatically. Is it that some staff at brokers do not know how to do this, or they just can't be bothered?

[skyship] 13/11/2012 09:51

Got 7% from Sippdeal and sold my balance @ 411p today.

I always sell too early but was feeling uncomfortable @ 100% invested, so sold both my DNE & FPEO. Yet again, good profits from Private Equity.

GLA - sure I'll be back - perhaps higher up!

[pvb] 13/11/2012 09:44

Now that just leaves the problem: what to do with the cash?

[jaws6] 13/11/2012 09:11

yeap I got tender cash in a/c ,tks for reminder pvb

[pvb] 12/11/2012 15:34

Tender satisfied for just over 5% today.

[pvb] 08/11/2012 19:15

I was unable to vote with u because my holding is in Crest.

I thought Crest holdings could vote and that was one of the reasons for having a Crest _account.

Anyway, I voted against the performance fee, but only wrt my (smaller) holding outside of my nominee _account.

[tricia51] 08/11/2012 12:15

thanks Roger.
Altho I agree with your verdict on the performance fee I was unable to vote with u because my holding is in Crest.

[roger-lawson] 08/11/2012 12:08

Just got back from the Dunedin Enterprise General Meeting. I was the only ordinary shareholder present, but to cut a long story short I explained to them why the new/additional performance fee was not a good idea. Although they got 1% voting against the tender offer, they got 16.6% against the performance fee which is better than I might have expected bearing in mind the short notice, difficulty of getting through to shareholders, etc. I gather at least one institution voted against and PIRC also opposed it. I asked the board to take note of the result.

Will probably do a fuller write up of the meeting later today for the ShareSoc Members Network.
Roger Lawson

[jaws6] 25/10/2012 14:40

roger
tks for info

[roger-lawson] 25/10/2012 14:29

We issued a press release yesterday on Dunedin Enterprise spelling out exactly why you should vote against the new performance fee - see www.sharesoc.org/ShareSoc_Press039_Dunedin_Enterprise.pdf

In my personal opinion, a truely disgraceful attempt to compensate the fund manager for down sizing of the fund.

Make sure you vote against!

Roger Lawson, ShareSoc

[jlo10] 23/10/2012 16:56

Thanks for info
And for not saying "silly question"
I'll try for a few more than my allocation

[skyship] 23/10/2012 15:40

ALWAYS accept the tender for the total holding. Why would you not cash in a few @ 500p, even if only 5%. Usually you'll get a slightly larger allocation, it all depends on how many are tendered from a pooled nominee account.

In the recent HPEQ tender I got 37% versus the 30% tender. Others (see HPEQ thread) did even better.

[jlo10] 23/10/2012 15:03

Just received the offer message
I know it's necessary to always DYOR
But I've not personally experienced a tender offer before
Does the share price usually drop after the offer by the value of the offer or some amount
Are there pros and cons or do I grab this
Apologies if stupid question - I'll go off and research later
Thanks

[topvest] 22/10/2012 16:57

Voted against the performance fee - disgraceful to get an extra fee for basically doing what they are supposed to be doing and rewarding poor performance - i.e. an idiot could pretty much sell for > 85% of book value! ShareSoc has mounted a campaign against this as well.

[jaws6] 22/10/2012 11:09

Nice tick up now 410 414

[jaws6] 16/10/2012 15:57

skyship
tks
another offer at 500

[skyship] 16/10/2012 15:26

Tender Offer announced. Bare details, but far more detail on a
proposed Performance Fee. WHY? These supposed performance fees
for doing their job are a total rip-off of shareholder funds!

Still, share price performing as anticipated in Post no.28 above: