Dci Advisors Share Discussion Threads

[hugepants] 01/12/2017 10:11

Amanzoe gets rather good customer reviews!



"This may be the finest hotel in the world... "" etc etc



Expecting some more positive news on disposals/JVs before year end based on the interim statement

[tiltonboy] 14/11/2017 10:20

News on Aristo:

hxxp://www.mononews.gr/news-business-aristo-developers-prasino-gia-iperpoliteli-touristiki-ependisi-stin-ilia/217925

translates as:

Green light "for the creation of a complex tourist accommodation, with a total capacity of 742 beds, at the site of Agia Marina Ilia gave the Ministry of Environment – Energy. The plan envisages the construction of a 5 star category hotel and 580 beds, with spa and tourist furnished cottages of 162 beds.

The total area of the property is 212 acres.


The management body will be "Aristo Developers A.E.", as stated in the decision posted in Clearwater.

Aristo Developers is one of the largest real estate development companies in Cyprus and since 2007 a member of Dolphin Capital Investors Group of Companies.

[tiltonboy] 09/11/2017 10:46

A bit of two-way business in the market at the moment. A big buyer at 7p, and a big seller at 7.25p. I wonder which one will crack first.

[tiltonboy] 06/11/2017 16:52

I would like to see Aristo re-sold, and one other small development sold or jv'd. I'm pretty comfortable with running Amanzoe in the short to medium term.

Might even get the 11p I need to break even!

[hugepants] 06/11/2017 12:26

On fire here. Up 0.7% so far.

I had another go at deciphering the accounts yesterday but it's not easy given they have consolidated the assets/debt of the individual projects. Key thing for me is the group debt to asset ratio is low at 23% and I'm reasonably confident the larger assets at least ie. Amanzoe, Aristo and Kea are being valued realistically in the accounts.

[hugepants] 02/11/2017 08:39

Very good news surely.

[tiltonboy] 02/11/2017 08:10

Might even be a bit of uplift once it's near to completion.

[spectoacc] 02/11/2017 07:41

"The implied entry valuation for the One&Only new equity investment (and the EUR4m additional investment) is EUR20 million and it represents a 4% discount to DCI's Net Asset Value before Deferred Income Tax Liabilities as at 30 June 2017 for Kea Resort"

I'd rather they'd sold it, but still - vaguely positive compared to usual DCI announcements.

[my retirement fund] 20/10/2017 10:17

I'll take a million, only at 1p though !

[tiltonboy] 20/10/2017 09:57

...lol...if only!

2.5m offered at 6.75p now!

[spectoacc] 20/10/2017 06:11

@tilts - maybe it's understated ;) ;)

[tiltonboy] 19/10/2017 21:04

Cheap if you trust the NAV. History shows not to.

[hugepants] 19/10/2017 19:00

The recent results sounded positive to me. You wonder why someone is offloading this mutt at under 7p when NAV is 21p and company is in liquidation mode.

[tiltonboy] 19/10/2017 12:55

Loads (1.7427m) on offer at the moment at 6.8p. A buyer of 500k got filled at a slightly higher price earlier.

[tiltonboy] 10/10/2017 21:52

I get their morning note, which includes their bid and offer list as well as commentary on stocks they cover. It isn't anything I can share I'm afraid.

[rjmahan] 10/10/2017 20:52

Tilton how do you check Singers daily offer list? Could you share a link ?

[tiltonboy] 09/10/2017 16:32

A bit of stock being picked up in the intra-day auctions over the last week or so. Stock no longer appears on Singers daily offer list although they are the MM on the offer.

Nothing of any size to suggest that news is around the corner.

[hugepants] 29/9/2017 08:41

The news on Aristo looks positive

"Aristo sold 91 homes up to August 2017 representing total sales of €47.1 million up 44% compared to the same period in 2016. In parallel Aristo was successful in restructuring €44 million of loan liabilities with Hellenic Bank through debt to asset swaps during the period and together with other loan principal repayments achieved a reduction in overall bank debt as at 30 June 2017 to €68 million (€127 million as at 31 December 2016) with total assets as at 30 June 2017 of €364 million (€433 million as at 31 December 2016).

"The Company is encouraged by the significant improvement in Aristo operations, the increase in sales velocity and the substantial reduction of Aristo's bank debt burden achieved during 2017. On the back of this operational momentum, we are reviewing the Company's strategic options regarding the realization of our holding in Aristo."

[tiltonboy] 29/9/2017 06:59

Amanzoe is the jewel for me, and given the improving performance profile, I would hope that it would be an easy asset to sell, and at not too much of a discount to NAV.

Would still be happy to clear 10p!

[spectoacc] 29/9/2017 06:39

NAV fall on continuing grotesque expenses but some seeds of good news, and portfolio not actually revalued (am assuming it goes up of course). Also:

" The Company in line with the stated strategic objective
of disposing of all assets by 31 December 2019
has engaged advisors and agents for the sale of
several other assets and has received expressions
of interest. In parallel the Group is in advanced
discussions with investors for joint venture transactions
for two projects which should facilitate their
disposal."

[tiltonboy] 13/9/2017 13:08

Worringly, as they are obviously struggling to shift any kit!

[qs99] 13/9/2017 12:13

very quiet on here

[qs99] 02/8/2017 07:30

wonder if the inflation and growth pick up in EU will slowly begin to help sentiment and values for DCI?

[qs99] 25/7/2017 14:06

Yup, looks an interesting "in"....