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DSM Downing Strategic Micro-cap Investment Trust Plc

58.00
-1.00 (-1.69%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Downing Strategic Micro-cap Investment Trust Plc LSE:DSM London Ordinary Share GB00BF0SCX52 RED ORD GBP0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -1.69% 58.00 58.00 59.00 59.00 58.50 59.00 34,293 16:35:18
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -1.69M -3.74M -0.0734 -7.97 29.77M
Downing Strategic Micro-cap Investment Trust Plc is listed in the Trust,ex Ed,religious,charty sector of the London Stock Exchange with ticker DSM. The last closing price for Downing Strategic Micro-... was 59p. Over the last year, Downing Strategic Micro-... shares have traded in a share price range of 54.50p to 67.00p.

Downing Strategic Micro-... currently has 50,890,681 shares in issue. The market capitalisation of Downing Strategic Micro-... is £29.77 million. Downing Strategic Micro-... has a price to earnings ratio (PE ratio) of -7.97.

Downing Strategic Micro-... Share Discussion Threads

Showing 501 to 524 of 525 messages
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older
DateSubjectAuthorDiscuss
29/3/2024
08:23
DM clearly oblivious. Makes a mockery once again of their claim to apply a PE style to investing
makinbuks
29/3/2024
08:22
Of course not. I imagine the dispute was pre 2019 resulting in them ceasing the relationship at that point. Why its taken this amount of time to bring a legal case I don't know. Possibly getting legal funding? That takes some time to assess. Odd as well that the contract wouldn't allow easier resolution routes, mediation, arbitration, etc. Could be those have been ongoing and finally exhausted
makinbuks
28/3/2024
21:27
Did it really take them 5 years to realise there were problems and start legal proceedings ?
weatherman
28/3/2024
20:41
FA shareholder registry shows Downing is buying more. A lot more. What on Earth are they thinking.
zombiestocks
28/3/2024
20:26
DSM have been saying they expect the FA. sale to go through by June. Thus allowing the
50% of NAV return by end of June.

red ninja
28/3/2024
19:08
OK thanks, and the claim goes from 2011 to 2019 so clearly didn't come out of the blue
makinbuks
28/3/2024
18:00
Fireangel was 3.5% at the half year (see report) reflecting the 7.4p bid. Surely it can't be 6.5% now?
makinbuks
28/3/2024
17:04
Fireangel is 6.5% of portfolio, or about 4p per DSM share - so far the loss to NAV is approx. less than half of that, less than 2p - it will show up on Tuesday's reported NAV.
weatherman
28/3/2024
16:46
Oof that Fireangel hurts
zombiestocks
28/3/2024
15:56
Fire Angel doesn't seem to have got the memo.

I sold out (again) when the discount was under 10% and no sign of any residual payment from the Real Good Food administration adding to the NAV. I'd hoped that there may have been a modest kicker (maybe 2-3p) from that.

cousinit
28/3/2024
15:46
Unless Milkwood can catalyze some interest and maybe inject some new money to get it to 50m+... Trying to find their track record/AUM
zombiestocks
28/3/2024
14:44
But to your point, I would take Rockwood shares in return for the rest for example.
makinbuks
28/3/2024
14:43
Yes although if Downing distribute half in cash its even less likely to be viable
makinbuks
28/3/2024
14:30
It's too small for Downing, too painful and too public with so many mistakes. I hope Milkwood and/or the board find some way to keep it going rathet than forced selling at the bottom.
zombiestocks
28/3/2024
11:57
That's it exactly. They launched this fund and proved themselves to be very poor investors, or influencers, in a couple of specific cases but they were also extremely unlucky in their timing and have endured a dreadful macro background. So with the trust sub optimal in size and no way to increase it, they threw in the towel. This is all in marked contrast to Rockwood Whose shares trade at a consistent premium (but which was equally badly managed by their previous manager). So basically Downing as a manager decided they don't want it any more. I understand that, but then they take the lazy way out to liquidate and sell. They're sole interest is as asset managers. They don't care about shareholders
makinbuks
28/3/2024
11:47
I guess you could argue that DSM are breaking up their portfolio at the bottom of the cycle, which is not the best option. They were trading at NAV of above 80p a while ago, now 65p. Milkwood clearly see some value in this stock - wonder what their plans are?
weatherman
28/3/2024
11:05
Well well, Milkwood up to 28% gives them >25% powers over EGM's special resolutions etc. Could be very interesting, but I believe the next vote is simply for a distribution to shareholders so 50.1% only needed. Maybe they want to force a meeting to change the manager. No doubt there will be some onerous clauses in the contract covering that eventuality that our expensive independent directors will have approved
makinbuks
26/3/2024
09:35
Yes I enjoyed the Arix ride but nothing like that on offer here. I had hoped that someone like Rockwood might have done something to offer shareholders a continuance option
makinbuks
26/3/2024
09:16
I recall the ARIX 'takeover', where the biggest shareholder used the cash to organise itself a cash pay out, and all other shareholders had to settle for shares in RTW. As it turned out the RTW shares were worth more than the cash in the end.
weatherman
26/3/2024
09:01
You are right. 13.4% voted against at the first meeting on 28th Feb which presumably was Milkwood and nobody supported them so likely to happen again. And I agree, having realised the cash its better with shareholders than in Downings hands. Its the continuing realisations I'm not so keen on
makinbuks
26/3/2024
04:00
Milkwood had 16.7 percent on 22nd March so a long way from wining votes unless other big holders vote with them.

I think milkwood is right but it is bit late and what happens to cash do they re-invest it?

red ninja
25/3/2024
16:16
hxxps://www.morningstar.co.uk/uk/news/AN_1711131194113714000/in-brief-milkwood-takes-stake-in-downing-strategic-micro-cap-.aspx

Milkwood intend to vote against all resolutions on 3rd April. That could be interesting

makinbuks
25/3/2024
16:08
I think we all believe that, question is will I get back the 78p I paid for them
makinbuks
23/3/2024
11:24
As per the 20/3/24 Circular, 1st payout of 26p around 4th April :-

"The Board, therefore, anticipates that it will be able to undertake an issue and redemption of B shares on or around 4 April 2024 so as to return capital of approximately 26.0 pence per ordinary share to existing shareholders. This is significantly improved on the previous anticipated return of approximately £10 million in aggregate (representing approximately 21.5 pence per ordinary share), as set out in the Circular."

As they say :-

"The remainder of the portfolio comprises investments in companies where there is a clear path to greater value than that currently reflected in the Company's NAV. Some of DSM's investee companies are currently in strategic review or bid situations that are likely to realise value over coming months."

hopefully they will be able to deliver more than the current share price, Milkwood must believe that.

red ninja
Chat Pages: 21  20  19  18  17  16  15  14  13  12  11  10  Older

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