De La Rue Share Discussion Threads

[soleman1] 01/2/2024 13:11

Then big gap up to 150p

[mickyl] 01/2/2024 12:44

Broken through 90p barrier. Next charted resistance 104p

[kooba] 20/1/2024 08:28

As I've said before i think the company is a sitter for a takeover approach before it has time to recover further ..if the offer reflects the strategic market position and that recovery potential it might well succeed with CRS and RG now holding over 25%..but it would still have to be a decent premium. Maybe what he is looking for?

[mickyl] 19/1/2024 19:20

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!

[kooba] 19/1/2024 11:05

I think there are some trade report systems that do not feed into the LSE volumes. But here though it is likely that only the transaction that took it over a percentage barrier that is the trigger for reporting .The holder could have moved from just over 9% to 9.99% weeks ago ..it was the transaction that breached 10% that made it disclosable.

[mickyl] 19/1/2024 09:06

Thanks Kooba. I look at the trades most days and didn’t see a spike. Is there a way of purchasing shares without them showing up on the daily volume of shares traded?

[kooba] 19/1/2024 06:56

His overall exposure has moved from 9.09% to 10.19% since the end of November so purchased another 2.15m shares breaching the % reporting level.

[mickyl] 18/1/2024 22:45

Has he purchased more shares at 85p? I noticed it said 7.91% voting rights through financial instruments. What does that mean exactly? Has he purchased the rights to other people’s shares?

[simmsc] 18/1/2024 12:20

Richard Griffiths ads again. 10 percent now

[mickyl] 11/1/2024 11:20

Thanks wbodger. It’s a compelling argument for <£1. CRS can’t hang around for a sale and may come under pressure to sell sooner rather than later. No doubt they will be talking to Crane currency et al to takover their stake.

[wbodger] 10/1/2024 17:01

In theory, perhaps. But they will be aware how much of a loss/gain they expect, that's human nature.

I didn't go back much before the capital raise, because CA have mentioned in communications that they initially made a gain after the capital raise. Here are some pointers (DYOR):
AR-to-EndJune-2023:
In July 2020, De La Rue completed a £100 million fundraise which was priced at 110p per share.The Fund [CA] was the largest investor in this raise and ended up owning around 18% of De La Rue’s issued share capital. Following a significant rise in the share price, the Fund reduced its exposure and reverted to being a 10% shareholder.

Previous Year. AR-to-EndJune-2022:
Additional investments and shareholder returns were funded by reducing the Company’s shareholding in De La Rue ... The holding in De la Rue decreased to 9.8% of De La Rue’s equity (2021: 12.3%)...

This does not tell us much about how much profit or loss was made selling down from 18% to 10%.

It is likely the shareholding they had before the 2020 capital raise took a hit, and if they paid over £4 a share for it, a big one, but raising the holding to 18% at a price of £1.10 would have averaged it down. £1.10 is therefore not a bad starting point for a guess. Averaging between £1.10 on 10% and £0.50 on 6% gets me to about £0.87 blended on the current 16%.

[jensen10] 09/1/2024 10:19

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.

[mickyl] 09/1/2024 09:28

Yes, I’d like to know the same thing ie average cost of their holding. I think it is closer to £1.25 - £1.50 mark. I’ve been having a look through the history and their first 5% holding was back in mid July 2018 when price was £4.50 ish. They participated in the rights issue and then increased further at 40p but it would take more to water the early 5% down to less than £1 IMO.
Is there anyone out there with a definitive answer?

[wbodger] 08/1/2024 13:12

I estimate that CRS are probably holding their DLAR shares at a price of around upper-80 pence, based on 10% residual holding at the issue price they participated in, £1.10, and then 5.25% in the deep plunge to under 50p before better than expected results. If so they may be holding on in the expectation of continued progress in recovery since they are close to a profit on the investment. Bernstein tweeted that CRS thought DLAR should be trading at £1.02 per share, an opinion that has probably changed upwards.

Anyone have any more recent informed comment on what might be the market expectation now? Is this re-rate driven by bid speculation or recovery in prospects?

My guess is: the re-rate is driven by the fact that CRS might accept a bid at about a 20% premium to the present price, because of CRS's own circumstances. There is also a hope that continued improved trading might raise some analyst expectations, so there is a perishable opportunity for an opportunist bidder.

[argylerich] 29/12/2023 13:55

Easy solution:

wigwammer29 Dec '23 - 10:57 - 2844 of 2853 (Filtered)

0 2 3
kooba29 Dec '23 - 11:18 - 2845 of 2853 (Filtered)

0 1 0
wigwammer29 Dec '23 - 11:29 - 2846 of 2853 (Filtered)

0 2 1
kooba29 Dec '23 - 11:48 - 2847 of 2853 (Filtered)

0 1 0
wigwammer29 Dec '23 - 12:15 - 2848 of 2853 (Filtered)

0 1 2
kooba29 Dec '23 - 12:42 - 2849 of 2853 (Filtered)

0 1 0
wigwammer29 Dec '23 - 12:52 - 2850 of 2853 (Filtered)

0 1 1
kooba29 Dec '23 - 12:56 - 2851 of 2853 (Filtered)

0 1 0
kooba29 Dec '23 - 13:13 - 2852 of 2853 (Filtered)

0 1 0

[masurenguy] 29/12/2023 13:35

For goodness sakes - kooba and wigwammer, will you please stop filling this thread with your mutual sniping. It is tedious and it is also ruining the thread as a source of informed and intelligent dialogue among shareholders.

[kooba] 29/12/2023 13:13

My posts JUne 29th on results..shares went into result at 36.5p..as always I stand by my posts.koobaV183 d | Post #2566 of 2851Much uncertainty removedSuccessfully renegotiated the Company's facilities with its lenders, leading to a significant relaxation of both interest cover and gearing covenant ratios, and the addition of a- Agreement reached with the Pension Trustee to defer GBP18.75m of deficit repair contributions originally due over the 15 months from April 2023, with the substantive majority (GBP16.25m-GBP17.5m) deferred to the FY26-FY29 timeframe. This significantly improves the cash position for the Company over the next few yearsNo 'material uncertainty' with respect to going concern in the accountskooba?183 d I Post #2567 of 2851Should be a very decent rise today, more stable financial base secured without recourse to equity raise and signs of improvement in currency markets. I think the new chair who has only been in a few months has got a grip on things and has steadied the ship. Now can the business rebuild in its markets...upside downside now looks compelling as a recovery play.

[kooba] 29/12/2023 12:56

You do not deny having multiple accounts and ticking up your own posts..cheers, how sad.

[wigwammer] 29/12/2023 12:52

Speculate all you want pal. But no need so speculate when it comes to our discussion at 40p - it's all here on record - you got it wrong... bye bye :)

[kooba] 29/12/2023 12:42

Maybe out your alter egoIsengard1Member since: 27 Oct 2023FREEBack into bat.Why do you have more than one active account ?Ticking up your own posts I guess.Do explain.

[wigwammer] 29/12/2023 12:15

Oh I didn't say I was leaving the board. Just bored of talking to you. Ta ta :)

[kooba] 29/12/2023 11:48

Good riddance.

[wigwammer] 29/12/2023 11:29

Sure gargoyle. I'll leave it there