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DTY Dignity Plc

549.00
0.00 (0.00%)
23 Apr 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Dignity Plc LSE:DTY London Ordinary Share GB00BRB37M78 ORD 12 48/143P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 549.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
551.00 570.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
  -
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 549.00 GBX

Dignity (DTY) Latest News

Dignity (DTY) Discussions and Chat

Dignity Forums and Chat

Date Time Title Posts
20/7/202315:50DIGNITY (DEAD CERT)2,552
01/8/201810:01Dignity (DTY) One to Watch on Wednesday 7
12/11/201211:00What does Dignity mean ?11
11/5/200919:05*** Dignity Plc ***2

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Dignity (DTY) Top Chat Posts

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Posted at 17/7/2023 12:05 by exfortisd
for those still interested. phoenix mention in the May factsheet they believe DTY is worth £30/share vs the £5.5 paid to minorities. they say plan to create £1bn of equity value in the next 3 years, 30% of which will leak out to phoenix via the incentive fee.

meanwhile the clown at Artemis also published a factsheet, in which he brags about "negotiating directly" with the bidders to achieve the heroic price bump of 5%. this guy is also collecting fees on investor capital for such savvy dealmaking prowess...

dignity board chairman is still chairman of the regulated entity. despite perjuring himself by endorsing a deal at £5.5 that was marked up to £30 jst months later


hxxps://www.castelnaugroup.com/application/files/8416/8631/2239/Castelnau_Group_May_2023.pdf

hxxps://www.artemisfunds.com/en/gbr/adviser/investment-insights/2023/may/artemis-alpha-trust-quarterly-review-10-may
Posted at 20/4/2023 18:23 by velocytongo
Personally, i think there will be the opportunity to indirectly acquire at lower prices via Castelnau. this will be a long and tortuous turnaround. my concern is that by the time the company is in good shape the death rate will start falling. i think they went too aggressively and too early on the price reduction and then got hit by increased costs, which is quite a toxic recipe when the company has as much debt as it has. i would not be surprised if further capital is needed to turn this around. it was atrociously mismanaged by the previous management and the mess is far greater than anticipated. this is quite often the case in reviving a flagging business. i wish phoenix well and will keep an eye out for the opportunity buy again. it's a shame as this has a fantastic position in the funeral market.
Posted at 19/4/2023 14:04 by otto fishbine
The latest RNS states they have 66.31% and the offer is unconditional. This excludes Artemis's 9.23%, which would bump acceptances up to 75.5%. Anyone have any thoughts as to why Artemis hasn't committed? Am I right in assuming it's a done deal over 75% acceptance? Thanks! The Letter of Intent doesn't mention price

BTW I am as disgusted as exfortisd as they are using company assets to effectively buy us out and trouser the upside. That's capitalism for you - greed, pure and simple

Otto
Posted at 19/4/2023 11:31 by exfortisd
Worth noting that channon keeps 1/3 of value creation in CGL above the ftse all-share.
On my maths, if over a 3yr period DTY increases in value 5x, rest of the junk in CGL increases 5% annually and ftse increases 5% annually. Then gross NAV would have increased 3.5x or 50% annually. But after channon performance fee, net NAV would only increase 2.7x or 40% annually.
So phoenix sweep half the upside into their pocket via this transaction. complete disgrace.
Posted at 18/4/2023 22:52 by sackofspuds
Yes, Jake sold. Bid price ended tody at 552 so presumably may as well sell in the market now.

Is anyone else tempted to take the 7.33 CGL shares? I'm 40% down having bought in 2018.

Not sure I can see CGL price shooting up after the acquisition so maybe sell DTY now and buy CGL later.
Posted at 04/4/2023 08:53 by tgoldie
It is now almost comedic that despite Channon running the show for 3 years 3 YEARS!!) since he had full control over the board, and prior to that he had a seat on the board via a patsy, that he and Davidson are still blaming the old regime for the shambolic performance. The big bet which had been researched for years apparently that slashing prices would result in huge market share gains has failed horribly and the current cash position they have caused is shameful - proof that one can read all the business books in the world but when it comes to running one you can’t rely on the words of others. The alternative sod course is this is all per of the plan to drive down share price, pick it up for a song (the Phoenix investment is probably still way out of the money), sell off the crematorium division for its £1.5bn value and dance off on holiday (just probably not to Australia…)
Posted at 08/3/2023 09:55 by exfortisd
they delayed the castelnau placing - was meant to close 3rd march, punted it to 14th. 14th makes more sense as investors will want visibilty on the offer acceptance. it was more that the 3rd seemed quite an aggressive timetable to start with. but directionally sounds an incremental negative for their faith in the placing.
in fairness they are marketing it with a presenation which basically argues they are buying DTY on the cheap, so not sure why they expect people to accept the offer...
hxxps://www.castelnaugroup.com/application/files/2616/7603/8830/CGL_Raise_Final_Version_rs.pdf
Posted at 12/1/2023 11:18 by exfortisd
Just a comment for interested shareholders to look at p92 of the bond doc (p153 of the pdf). Where they amend the permitted disposals on the real estate properties (footnote pasted below). I think they mentioned at one of the AGMs that the company owns c300 residential properties (often flats above ground floor shop). They had commissioned a valuation report to assess the property portfolio and had pledged to share the findings with shareholders in due course. To me this footnote suggests they have received the (at least preliminary) results of that analysis. Hopefully the Board will share this with shareholders before any deal is endorsed. We have no idea how many properties could be sold, presumably a subset of the total. But illustratively £300k x 300 is is £90m or £1.80/share


"[15 This is now too low and has prevented Dignity from disposing of properties where they are relyiny on a rollover.
Additionally, it also causes problems with sales at auction where the guide price is much higher than
this and as such consent pre-auction is required. The proposal is therefore to update this threshold to
£300,000 on the basis that: (a) this would align with what would typically be average auction prices; and (b)
for most of the properties within the Securitisation Group it is anticipated that this number would now be
around or below £300,000]."
Posted at 06/1/2023 17:20 by mtioc
Agree with comments above.

While I appreciate the logic of restructuring etc.. off the public market, and the option for current shareholders to participate either as part of private Valderema or listed Castelnau, Channon et al seem uncomfortably close to the business for an uncontested offer.

Sir Peter Wood is a major investor in Castelnau, so far from independent.

If Jakes is part of Valderma now or in future, some may question his 3% purchase on 17 Oct, when negotiations were seemingly quite advanced, and his 6% purchase in Dec, when there appears to be an agreed but unannounced offer significantly above the quoted share price.

I wonder if the private investors will get the same information as the bidders to inform their decision to accept (a) cash, (b) Valderma stock or (c) Castelnau shares. At the very least, they should be made aware of the results of the marketing of the crematoria during 2022 and the position with bond holders. Arguably, they should have access to the Valderma business plan.

While in these situations, you want to be measured on a public BB, this all seems a little cosy for all the reasons set out in this thread.
Posted at 19/12/2022 14:58 by qs99
well share price is reacting nicelY!
Dignity share price data is direct from the London Stock Exchange

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