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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| De La Rue Plc | DLAR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.00 | -0.83% | 119.00 | 16:35:24 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 120.50 | 117.00 | 121.00 | 119.00 | 120.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Top Posts |
|---|
Posted at 21/2/2025 09:10 by briggs1209 I hold both DLAR and CRS. CRS's entry price on DLAR is such that I think they will take an exit at 120p rather than gamble getting 150p - or having to wait a lot longer. Remember CRS are being forced by activist investors to liquidate (slowly). |
Posted at 10/1/2025 09:35 by farrugia the issue is Clive Vacher has not delivered the turnaround investors expected from him. He has underperformed. |
Posted at 21/11/2024 09:21 by argylerich Only Saba are left with a declarable short at the moment (0.87%).The 2m+ trade yesterday @99p was bigger than Saba's position so there's still investors out there that doubt the deals or don't subscribe to the timescales. |
Posted at 25/9/2024 22:28 by boll Unlike others on the thread I have a slightly different interpretation on the announcements.Firstly on trading the company has indicated that a number of currency contracts have slipped into H2 probably due to customer requirements. it’s consistent therefore that working capital needs to increase to fund the delivery of the orders. Additionally the company has highlighted that it needs to incur costs to enable disposal of the divisions so this indicates to me that the company isn’t going to be bought out in its entirety but that the divisions are going to be disposed of separately. This is a reasonable assumption because Crystal Amber are trying to realise all their investments to repay investors. The sale of the business is progressing so I will look forward for the update later this year. |
Posted at 18/8/2024 08:43 by masurenguy Thanks for the link. I think the most interesting points can be summarised below and they probably represent the view of Richard Griffths when hae started to build a position here at around @40p.Authentification services are a growth market. Globally, over one billion people are still without any ID document at all. Sectors such as government, healthcare, and finance are also scaling up their digitisation, requiring secure documents from users to. Printing cash has recently turned out to be a more resilient business than many had expected. In September 2023, The Times reported that "UK cash payments rise for the first time in a decade. It turns out cash is back as Britons try to manage tighter budgets in the cost of living crisis. Cash payments rose for the first time in a decade last year, with the number of transactions increasing by 7% to 6.4bn." according to figures from UK Finance, the financial services association. For all the talk of a cashless society, cash remains critically important for millions of people." At March 2024, De La Rue had grown its order book for currency printing to £240m, up from £137m a year earlier. The turnaround of its currency division is nicely complemented by the authentification business, whose revenue in 2023 grew 12.5%, to £103m. Right now, De La Rue has an order book of £350m stretching across 11 years, with most of that due within the next three years. If ever there was a good moment to go back to the idea of selling De La Rue as a whole or in pieces, now would be it. Crystal Amber from upping its stake from 10% in 2023 to now 17%. The fund is now the single-largest investor in De La Rue, followed by investment manager Schroders with a 15% stake. The seven largest De La Rue shareholders jointly own 75% of the company. De La Rue now equals a sitting duck – and it'll be sold off either in two separate pieces or as a whole. Now that there has been an official board review to this end, it's primarily a matter of engaging all the potential buyers and negotiating the best price. It doesn't even look like this is going to take all that much longer. The new chairman recently stated that "we look forward to completing this process during the current financial year", which ends 30 March 2025. One party long suspected of wanting to make a low-ball bid is De La Rue's American competitor, Crane NXT. With a US$3bn market cap, the Americans have the necessary financial firepower to take out De La Rue, whose current market cap is just £240m (US$305m). A sale of De La Rue within the next year or so now seems more likely than not. Even if it yielded only 130p, that'd be a nice one-year return for anyone climbing onboard now. |
Posted at 19/1/2024 19:20 by mickyl It’s interesting that an Investor like Griffiths is still investing at 85p. He clearly thinks there is mileage in the company. I think it’s sad about the Gateshead plant. It was once the flagship with an enviable reputation! |
Posted at 09/1/2024 10:19 by jensen10 Why does it matter what their historic average cost of holding is? They are professional investors. Their fund NAV is marked to market. Their exit will be based on what they believe the company is worth in the future. |
Posted at 29/12/2023 10:57 by wigwammer No sweetie, what you did was repeatedly overstate the risks. The benefit of experience is being able to differentiate better between perceived risk and real risk. Anyway, thank you to pant wetters like kooba everywhere, without emotional investors like him it would be much harder for the rest of us... :) |
Posted at 28/12/2023 19:36 by kooba The other point ignored is that it was not just Crystal Amber that wanted change and some real action in resolving issues..loose more lost the support of other leading institutional investors , this was quite clearotherwise he would not have walked...he knew he could not command support so fell on his sword.A little bit of joined up thinking would go a long way... |
Posted at 20/12/2023 09:12 by kooba The Times commentMoney talksProof that shareholder activism works. When investors ganged up in April to force out chairman Kevin Loosemore, De La Rue had just delivered its fourth profit warning in 16 months. The big worry? That without a change at the top, the banknote printer would loosemore money. In came Clive Whiley. The share price since then? Up from 40½p to 77p, even allowing for a 5 per cent dip on the half-year results.Yes, the business, in which activist investor Crystal Amber holds a 17 per cent stake, still lost £16.8 million pre-tax. Yet there are clear signs of progress. Net debt of £82 million is better than the £100 million guidance, boosted by an operating cash inflow of £15.4 million versus last time's £2.8 million outflow. The currency order book has doubled since September to £220 million. And the pension deficit's actuarial valuation is down to £78 million.Whiley found a group "struggling to balance conflicting stakeholder objectives", with £3 million of adviser fees "suffocating" recovery. He says he provided "air cover", allowing the other Clive - chief executive Clive Vacher - to focus on operations. Whiley also hints at better to come, with the results a "springboard to optimise the underlying intrinsic value of the business", even if De La Rue denied that was code for luring a bid. Whatever, it has no longer got such as big a licence to lose money. |
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