Share Name Share Symbol Market Type Share ISIN Share Description
Daejan Holdings Plc LSE:DJAN London Ordinary Share GB0002502036 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 8,050.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
8,040.00 8,050.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 137.83 1,312
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 8,050.00 GBX

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Date Time Title Posts
07/5/202009:02Daejan - 3.5% yield and 50% property discount1,202
18/3/201507:28safe as houses190
13/6/200821:47SAFE AS HOUSES?!!35

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Posted at 07/2/2023 08:20 by Daejan Daily Update
Daejan Holdings Plc is listed in the Real Estate Investment & Services sector of the London Stock Exchange with ticker DJAN. The last closing price for Daejan was 8,050p.
Daejan Holdings Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 0p while the 1 year low share price is currently 0p.
There are currently 16,300,000 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Daejan Holdings Plc is £1,312,150,000.
Posted at 28/4/2020 16:56 by apollocreed1
It looks to me like there is no turning back for the Freshwater family now and they've come good. They had every good reason to withdraw their offer but they are still proceeding. All the critics are eating their hats.

To get this price for my shares in this bad market is the best news I could have hoped for. The money will then be available to buy into another property company at a good discount to NAV - looking at AIRE, AEWU and Stenprop at the moment.

Posted at 12/3/2020 19:50 by konradpuss
Spool, Because the price is cheap and they get rid of the likes of you and I!
Posted at 22/2/2020 10:42 by skyship
Konrad – to possibly misquote Keynes – “When the facts change, I change my mind”.

One of the most important homilies to adopt in the ever-changing investment game.

I sold my HCFT as the Retail Warehouse valuations declined. They’ve held up very well however, so I may be wrong. The next set of numbers to Dec’19 will be crucial.

As for DJAN, it was a fortuitous combination of the Technical (interesting base formation chart); the Fundamental (The discount moving to the edge of the 30%-60% range) and the “DiversityR21; story. That just had to be the clincher for the family to opt out of public company status. It had to happen soon; but wasn’t expecting it quite so soon after my 14th February post. Sheer luck that…

Posted at 21/2/2020 13:34 by skyship
Epistrophy - I'm sure you jest; but in case not - please, please, please don't commit cash on the expectation of a counter offer because the one on the table is unfair to minority holders.

# The family own 80%
# The family state this is the one and only offer
# Ergo no counter offer permitted
# No counter offer would be accepted - the family own 80%
# DJAN is the family's SIPP

Personally, I'm happy with the facts as stated in Note 5 to the Offer doc.

Posted at 21/2/2020 10:22 by kinwah
Russman, technically you are right. I have quite a bit of experience of being a minority shareholder and the thing to always remember is you are at the mercy of the controlling shareholders and must rely on their goodwill to get looked after. The Freshwaters were under no obligation to buy the Daejan minority although I can see why they wanted to do it. All in all I think the offer price is a reasonable compromise. There have been some subtle changes in the Listing Rules over the last few years which have made life more awkward for listed companies which have controlling shareholders. These include separate votes at AGMs for electing non-executive directors. Listed companies must also have 25% of the shares as a free float although there is an exemption which Daejan used for companies with a market cap of over £100 million. I think other family controlled companies might be thinking about whether they need the inconvenience of being listed.
Posted at 17/2/2020 14:09 by skyship
I posted about these on the SHA thread; and was then asked when did DJAN last trade at just a 30% discount. Ans: Apr'17 when they hit £70 v. the NAV of £101.

I was asked this as I mentioned they usually trade in the range of 30%-60% discount, hence the current 55% looks good value historically.

By way of illustration only. If the share price ran up to a 30% discount it would be at £83 - 57% up on where we are now, which is £53.

Just by way of illustration you understand. 😊

Posted at 14/2/2020 13:59 by skyship
Mark Jenner, Daejan’s company secretary, said there are “no current plans” for Daejan to cease being a publicly traded company.

The Freshwaters will not give ground on this, or anything else. But I suspect that taking the company private is increasingly likely so as to avoid investigation, publicity and criticism.

They know full well that a tender offer at a fair price will deliver certainly 75% of shares in public ownership, then Section 103 of the Companies Act permits them to buy in the balance.

# 10% discount to NAV = £107……a 106% gain from £52
# 12.5% discount to NAV = £104……a 100% gain from £52
# 15% discount to NAV = £101……a 94% gain from £52

If people begin to think this to be a possibility, then the share price will begin to close the alarming NAV discount.

I think it will happen; and will likely happen this year. There being no point in waiting any longer.

Posted at 14/2/2020 13:05 by spob
Shareholders may be richly rewarded here.

When the directors pop their cloggs. Lol

Benzion Freshwater 71

Solomon Freshwater 68

I am a holder of DJAN

Posted at 29/1/2020 09:20 by skyship
russman - PR??? The Freshwaters are almost legendary in the reclusive stakes; and the share price is not something they ever think about.

They have no interest whatsoever in the fate or fortune of the 18% rump non-family shareholders - hence the miserable dividend payout. Why give away cash to other shareholders when it is best accumulated in DJAN - their personal pension fund!

I know this; but will still occasionally play DJAN as the underlying discount captures the imagination of many from time to time. Currently @ 55%.

Posted at 26/5/2019 13:13 by skyship
Konrad - sadly the ADVFN charts will only allow me to trace bacl 25yrs to 1993; still that is sufficient.

As can be seen below, DJAN & HCFT have tracked each other's share price; but crucially throughout that period HCFT have been paying a dividend at double the rate of DJAN.

As to retail, a fairly common mistake being made nowadays is not to differentiate between well-tenanted prime properties in sought-after areas; and the CVA territory of poor tenants. I recommend you listen to the interview with the new CEO of Shaftesbury in which he very forcibly makes and validates this assertion for his London West End retail estate.

So, IMO the few HCFT retail properties and indeed the DJAN properties you mention are in no way threatened by serious write-down, if at all after Q4'18. Look at the locations and look at the tenants. The one problem though, is that the DJAN properties yield just half of the HCFT properties; due to historically high London valuations.

Daejan share price data is direct from the London Stock Exchange
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