Delek Glbl Share Discussion Threads

[grollfam] 30/5/2016 20:05

thanks Kenny , can u post circular when you receive it please?

[kenny] 30/5/2016 18:15

The company has given very short notice of the EGM, has not stated the address of the property or it's previous valuations or the basis of valuation e.g. current use or development.

All of the above makes me suspect that we minority shareholders are being shafted. However, in the limited time available it is impossible for a minority shareholder like myself to find out more. We will have to leave it to the big shareholders to make enquiries and vote accordingly. DBI with it's 81.3% holding is not allowed to vote so it may not take many of the big holders to vote against to stop this. I am not going to vote at all and leave it to the big holders to decide the issue.

[kenny] 28/5/2016 23:29

Looks a bit crooked to me. How independent is the valuation of the property? I am looking into this and will comment further in the next few days.

Currently thinking of voting against the resolution.

[tiltonboy] 26/5/2016 11:38

2.18p payout

[grollfam] 26/5/2016 10:53

what tilton boy ???

[tiltonboy] 26/5/2016 08:01

Nice little bonus this morning.

[kenny] 16/12/2015 16:46

Accounts were released some months ago. No meetings.

[grollfam] 16/12/2015 14:18

thanks Kenny, any accounts ????meetings ????

[kenny] 14/12/2015 14:02

Latest word from the company is that they expect 1-2 further (relatively small) distributions. No timescale indicated.

[tiltonboy] 26/11/2015 15:15

Having been "fleeced" by the liquidators of REO/Battersea, and seeing how much the Malaysians made out of that scheme, I was intrigued by this:



I have no regrets over DGRE, as they delivered wonderful returns. I could just do with it winding up before 5th April, so I can use the tax loss as well.

Any news, anyone?

[tiltonboy] 16/9/2015 11:19

Anybody received anything yet?

[grollfam] 29/8/2015 08:29

7 August 2015

Delek Global Real Estate plc (in liquidation)

(the "Company")



An AGM was held on 6 August 2015 whereby it was proposed that, as part of on-going efforts to efficiently and promptly liquidate the remaining assets of the Company (which are predominantly in-active and dormant subsidiaries) (the "Companies"), a significant number of the Companies (the "Transferred Companies") will be acquired by a newly incorporated special purpose vehicle (the "S.P.V") managed by Carey Olsen, a Jersey law firm (the "Proposal"). Prior to the AGM, the board and management of the Company have been in discussions with Carey Olsen to devise a strategy to facilitate the winding-up process prior to and following the anticipated dissolution of the Company. The purpose of the S.P.V will be to complete the orderly winding-up, dissolution and striking off of the Transferred Companies (the "Group Wind-Up").

The Directors anticipate that the Group Wind-Up will generate significant cost savings for the Company. More details were provided in the AGM documents which were dispatched to the registered shareholders of the Company (including any nominee holding shares on behalf of any beneficial owner) (together, the "Shareholders") on 13 July 2015.

Following the passing of the Proposal for the Group Wind-Up at the AGM, it was determined that further information will be dispatched to Shareholders. Such information will include details of a contingent distribution undertaking to be delivered by the Company (or to procure the delivery of) to its Shareholders on or about 15 September 2015 (the "CDU Undertaking"). The CDU Undertaking, the conditions and notice provisions incorporated therein will set out conditions upon which each Shareholder may receive a pro rata proportion (if any) of any surplus proceeds that may be realised during the completion of the Group Wind-Up (the "Proceeds"). A notice will also be delivered in accordance with the terms of the CDU Undertaking to the Shareholders, requesting each Shareholder to complete and return such notice to Carey Olsen (in its capacity, amongst others, as the agent of the S.P.V.) within 14 days of receipt, detailing, inter alia, notice and account details for any Proceeds (if any) that may be distributed to Shareholders.





For more information, please contact:



Delek Global Real Estate plc (in liquidation)

Tel: [phone]

Email: [e-mail]

[kenny] 07/8/2015 17:41

Received the accounts. They look pretty grim but I will try and make a detailed analysis in the next few weeks, holidays etc. allowing. On first blush, there may not be much left but it is hard to tell.

[tiltonboy] 07/8/2015 16:12

Any thoughts?

[grollfam] 02/7/2015 20:28

thanks Kenny

kindly let us know when the accounts are available please

[tiltonboy] 02/7/2015 18:18

cheers Kenny

[kenny] 02/7/2015 18:08

I contacted the company today and they advised that the accounts should be signed at the end of next week and available shortly thereafter.

Personally, I do not see a quick liquidation but maybe the 2014 accounts will clarify matters.

[grollfam] 02/7/2015 12:05

happy to keep receiving juicy liquidation dividends....

as the company is now in liquidation, do we still receive accounts ??????

[tiltonboy] 02/7/2015 11:56

Any sign of the 2014 accounts. It would be nice to put this one to bed finally!

[kenny] 01/3/2015 20:02

Last year's accounts were not available until the end of June; so hopefully no later than that. Also, just to add that I think there may be a lot more property than I mentioned above; it is just hard to reconcile exactly what remains.

[grollfam] 01/3/2015 17:55

thanks Kenny, this has proved to be a good investment over the last few years..

when do you think DEC 2014 accounts will be available?

[kenny] 01/3/2015 17:00

I asked the company if there are likely to be any distributions during 2015.

They have replied that there MIGHT be relatively insignificant distribution/s later this year but are unable to confirm this absolutely or timing or quantum.

I would guess there may still be about 2p per annum of recurring net rental income albeit until we see the accounts for 2014 (which are unlikely to be available until June 2015) this is a pure guess. It may reach 3p per share but with all the property sales and properties taken back by banks, it is difficult to be certain. Need to see the 2014 accounts to see what properties remain and also what possible NAV remains. Presumably, they are working on selling those properties that are not in a negative position after taking account of banks loans. I think that each property and loan is in a separate company without cross guaranties. Therefore, they are able to walk away from the losers and sell those with NAV and distribute to shareholders.

I do know there is a property in Switzerland (last worth about 8p per share) and there are the remaining 2 Metro stores in Germany (likely worth under 1p per share as I think they went vacant). What other property remains unsold is difficult to deduce until we have some more up to date accounts.

[grollfam] 22/9/2014 12:34

wow, did not expect this, although there were still a few german assets left to sell at year end in accounts.....

[kenny] 18/9/2014 17:31

I did not go for the others you mentioned - wish I had as they have all done well. More money to reinvest shortly so any further suggestions would be appreciated-either now or in future?