there are a lot of ifs and buts here and it is very likely it will take much much longer for DCI to receive cash from this transaction than what they indicate here. while waiting for this, the two not so "executive directors" earn 250k euros each for waiting.............when will shareholders react and throw them out ??? |
"three parcels of residential development land located around Paphos in Cyprus at an independently assessed valuation totalling €12.8 million"
How you know that DCI already owned a % of this land ?
48 % ??
& hence was only receiving the % it did not own
(= 100- 48% = 52%
52% of 12.8 million = 6.7 million €.
a much smaller amount
is that what you are claiming ??)
The RNS does not give such information.
=====
anyone know much it cost for DCI to be the 48% owner of the assets it is selling ?
a much higher amount than it is receiving I assume |
an absolutely terrible negotiation - mr Aristo is very likely to celebrate tonight ! how can this BOD accept payment in land that they already indirectly own........utterly stupid. clearly the company now need to install competent directors to work the remaining assets out more successfully. |
Looks a poor deal, but happy to see something happen |
Good news??? |
A few chunky trades from Friday marked after the close yesterday. Looks like a purchase of 10m and sales totalling 9.75m |
I would take 7p |
NAV is probably around 15p if they are given the time to work the assets out - however do they really have a team in place to pursue this efficiently - the people in charge currently, have not achieved anything what so ever so far?!?! |
Interims out. Re-list tomorrow |
When do you expect relisting?
Br |
Relisting soon it seems. Final results just out.
"In sterling terms, DCI's NAV increased from 10p to 12p over the year since 31 December 2022. At the 31 December 2023, DCI had a market capitalisation of approximately £43.4 million, compared with the Company's NAV of £109.8 million after DTL representing a discount to NAV of 60.5%." |
the current directors have now been voted down on a resolution from which they would have benefited tremendously at the expense of all shareholders - a resolution they recommended shareholders to support! this, if anything, is a strong evidence of a deep lack of trust in these directors, and they should of course now be "asked to resign" with no unnecessary delay. i guess this can only be a matter of days/weeks now. |
A surprising amount of popcorn to be consumed here for something with no current price action... |
More fun, likely attempting to remove management:
"12 December 2024
DCI Advisers Ltd (AIM: DCI) received a letter and accompanying notices dated 3 December 2024 from Almitas Capital LLC ("Almitas"), seeking, as a holder of approximately 19.95% of the voting rights of the Company, to requisition an extraordinary general meeting of the Company pursuant to Article 15.2 of the Company's Articles of Association (the "Requisition"). The Directors have now confirmed with their lawyers that the requisition notice is valid. A notice of meeting will be sent out shortly and in the meantime, shareholders are urged to take no action." |
Blablablabla…………………;……̷0;……R30;DCI is turning into a retirement home for its overpaid BOD……230;.at the expense of all shareholders. Time for revolution !!! |
There's more than I can plough through, but:
" It is not expected that DCP's claim will be heard in the High Court until late 2025 or early 2026."
Those timetables tend to slip, so presumably zero chance of DCI reaching a conclusion any time soon. |
As usual with this ”management221; team: blablablabla. And more blablablabla. But no real delivery on their instructions from shareholders. Only blablablabla. And now also a request for some further potential remuneration. On top of some hefty salaries they have given themselves. Blablabla. |
Since the two Executive directors took over management of DCI the company has involved itself in a legal battle with the former management, borrowed money several times from certain shareholders, failed to file accounts in time and thus seen the shares suspended and announced a number of ”imminent transactions”, none of which have materialised. These two directors had their remuneration packages significantly enhanced recently and shareholders must now ask themselves what they get for the money. None of these two have suitable professional skills or experiences for these tasks, which is sadly demonstrated by the lack of progress. It is no doubt time for shareholders to consider how the valuable assets of DCI can be turned into cash to the benefit of all shareholders pro rata. It cannot continue like this. It is time for a change of guards in DCI, no doubt. |
December, really? Wouldn't bet on it.
RNS is a day late.
"As at today's date, the Audit has not been completed. KPMG continue to work on this and the Company now believes that the audited Annual Results together with the interim results for the 6 months to 30 June 2024 should be published during December. " |
Agree they should have RNS'd the receipt of funds in September - whether it happened or didn't happen.
Now beyond the "..In October".
I guess none of it is market-moving because there's no market. |
I suspect the hand of Miltos still looms large. Think we are in for a long wait |
Where are the audited accounts that we have been promised for quite some time now? And what about the completion of the sale of Livka Bay ? It seems the best skills of the management team is to borrow money from shareholders at rather onerous terms……..time for a change of guard it seems. |
 So October possible relisting, having failed to meet 9th August audit target.
But some (co saving?) cash coming in this month.
"Although disappointed that the audit has not yet completed, the Board confirms that the audit continues apace and now anticipates that the audited Annual Results will be published during October 2024. At the same time, the Company also expects to publish the interim results for the 6 months to 30 June 2024 in October.
The Board would like to reiterate that robust sale plans have been identified for each asset in the portfolio and expects to give an update on these when the audited annual and interim results are published."
"Update on Livka Bay process
As noted on the 28 June 2024, the Company entered into a Sale & Purchase Agreement to sell the Company's interest in Livka Bay on the island of Solte near to the city of Split on the Dalmatian Coast in Croatia (the "Sale"). The Board stated at the time that completion of this Sale was expected to take place shortly and is for 100% of the Company's interest, for a price of €22 million. The Board reiterate that it is nearing full completion and anticipates being in receipt of funds during September." |
I wonder.
It looks like DCI has been ejected from the FTSE Small Cap index due to being suspended for 40 days without update.
Might that be convenient for larger holders to mop up more from technical selling?
Appreciate that we're only a few days into September, but clearly August has come and gone! |
In danger of being delisted, no one any views? |
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