Daejan Share Discussion Threads

[mw8156] 06/6/2019 08:29

retsius- must have done better in share price and NAV since 2015 than Intu, bl, land, hammers and a host of other prop cos, though, granted, it does have rather a lot of UK retail property on the books eg promenade, Cheltenham and ?Dartford shopping centre and came a cropper over Southern Cross.

[konradpuss] 05/6/2019 22:07

retsius, beauty is in the eye of the beholder!

I have know many carp shares, however they usually revolve around fraud, directors not telling the whole truth and or too much debt.

[skyship] 05/6/2019 13:54

"I'm new to this thread, but remember guys that increasing the dividend would mean increasing the company's debt."

NOTE: The dividends are paid out of massively covered revenue earnings. The only affect would be to marginally limit the increase in NAV and cash balance. Debt would not be affected.

As for your comment about a possible offer. You are right that there is no legal requirement to pay a premium to Market; however, if the family finally were to make a bid for the minority, there would be little point in doing so at a level which no-one would accept. Launching a public offer is an expensive process. Remember, that even if they were to bid at a 25% premium (£70/share), it would still be at a level of 30% or more below true value!

[konradpuss] 04/6/2019 22:06

coolen, buy some and then cross your fingers it is taken private. You should do well. In any case when this stock has been at a discount of 50% to NAV buyers have usually done well.

[coolen] 04/6/2019 21:59

I'm new to this thread, but remember guys that increasing the dividend would mean increasing the company's debt. That would not help the share price. And then there's the new Dividend Tax to consider.

Equally, I wouldn't be pressing for him to go private at this point in the property cycle as there is no legal requirement for any Offer to be above the currently depressed share price.

I might buy some tomorrow as a boring but safe investment for the long term.

[konradpuss] 04/6/2019 21:40

We want 'Benny' safe and sound so what the hell, two security guards!

[konradpuss] 04/6/2019 18:13

appollocreed1 two security guards, well I suppose these fellows are being paid for by 'Benny'. I don't mind paying for a driver mind. He needs the commuting time to be reading the F.T. on his way in to world H.Q. while riding in that ten year old 'bus'.

Agreed, the U.K. courts should 'muscle ip' on sentences for out and out fraudsters.

[apollocreed1] 04/6/2019 14:29

@konradpuss - I think he's pretty frugal. He has 2 security guards outside a nice but not extravagant house and those same guys take turns to be is his driver.

Re financial fraud - I think our courts should be giving out the same kind of sentences that the US courts gave to crooks like Bernie Madoff. I've seen a few UK investment scams where the fund manager gets 3-6 years and will be out in half the time on parole. They always claim that the money was gambled away, but if they've hidden it in some safe place then 3 years in prison is probably worth the rest of their lives as multi-millionaires.

[ntv] 03/6/2019 21:30

never did time though any of them, walked away with slapped wrists
pathetic to say the least
GT will keep on appealing for as long as they can
cake directors show you can have cake and eat it

corruption is widespread clearly seen in these offshore trusts
why go offshore with your money unless you want to avoid paying tax

[konradpuss] 03/6/2019 20:26

NTV, look up a decision - Assetco Plc v Grant Thornton.

It is currently being appealed, however in the first round £33.4 million was awarded against Grant Thornton for two negligent audits. The two executives involved in the fraud at the company were fired although I have never looked up if they are doing time.

The audit partner at Grant Thornton was struck off and fined.

[ntv] 03/6/2019 19:28

lol
Cooking the books and getting away with it. when was the last high profile conviction anyway?
Frank is on tv tonight to explain to us all how never to pay any income tax, ever !!

[konradpuss] 03/6/2019 18:39

apollocreed1, how interesting. I wonder if the old Voyager or Previa is a company motor? I for one, as a proud shareholder, would not begrudge him running around in a vehicle like that on the company. Most Chief Execs. of a '250 company' would have a black bomb proof S class Merc. under a year old with a driver and a couple of flunkies!.

As to asking him to up the divi, I think that is a bit forward. I would suggest you
wish him well and make a kind observation that he should just buyers you and I out at NAV!

I think there is very little chance you with find this turning into a Patisserie Valerie.

I think I know the firm of accountants you are referring to. Very straight.

[apollocreed1] 03/6/2019 13:14

Although one other point to mention is that I have some friends who are junior accountants that worked under Solly Benaim who is a non-execiutive director. They inform me that he had very high ethical standards and so they trust that he would not be involved with any company that might do anything dishonest. As a shareholder in GOAL, BT, IDE and having a holding in the City Financial fund, what has become one of my biggest worries with any investment is "cooking the books."

[apollocreed1] 03/6/2019 13:04

I live near to the Chairman of this company and I see him a few times a month, but feel that I may cause offense if I say anything such as "How about paying us a decent dividend?!"

Do you guys think that it may help if I suggest something like that? Or shall I say something else?

P.S. He actually has a chauffeur who picks him up in what looks like a ten year old Chrysler Voyager or Toyota Previa (I didn't look so closely at the exact model).

[mw8156] 03/6/2019 07:12

Agree, I have a lot of sympathy with their position on composition of Board membership.

[ntv] 02/6/2019 20:42

Hhhmm, now there is a reason to take it private but i bet there wouldn't be much of a premium
MAYBE THE DAILY MAIL SHOULD TAKE A LOOK AT THE DIRECTORS OF BISI AND LAS
It would also make a very interesting article

[konradpuss] 02/6/2019 19:30

If they are looking for a female non-exec. how about Mrs.May?

I am sure she would go down a storm with 'Benny'!

[mw8156] 02/6/2019 17:36

article in Mail on Sunday today- seems 71 year old chairman 'Benny' is set to meet with pirc and an institutional investor to discuss composition of the Board and other governance.

[ntv] 02/6/2019 15:17

Why take it private now? Annoying small holders have been here for years . They come and go like the tides. Been a value trap as far as I can remember sitting at 50% discount for years in the past
sorry for part post