Dhir India Share Discussion Threads

[moreforus] 27/9/2011 13:53

Daytaders

Buffet is buying back how own stock

DHIR are proposing giving themselves the power to buy back their own stock...

[daytraders] 27/9/2011 13:52

Did not see dhir mentioned in that link.

[envirovision] 27/9/2011 13:50

Praipus just read your post. Lords Chloro Alkali Limited I think this was the one listed on the bombay stock exchange, this company has clearly ceased trading from the investment manager's report, the electricity supply to Lords Choloro Alkali Limited (note 12) was
disconnected after the year-end. The directors are of the opinion that this may adversely affect the value of the
investment. However, the effect cannot be quantified at the time of approval of these financial statements.

(clearly sounds like they ceased trading to me).

Huge pants, I'm confused about the requirement for Resolution 6 since item 16. of the prospectus page 25 has already made a provision to enable such authority. So does not make sense to me.

[moreforus] 27/9/2011 11:24

guess for some strange reason they think the stock price is a bit cheap...

[hugepants] 27/9/2011 11:20

One of the AGM resolutions:

Resolution 6
This is an enabling resolution which, if passed, will authorise the Board to buy-back shares of the Company in the open market.
Any buy-back will be subject to the conditions stated in the resolution, including in relation to price and amount. This authority
will lapse at the conclusion of the Annual General Meeting to be held in 2012. A majority of not less than 75% of the votes cast
at the meeting or by proxy is required.

[daytraders] 21/9/2011 15:39

both 25,000 buys show as sales.

[moreforus] 21/9/2011 14:07

whatabout now?

[stemis] 21/9/2011 14:03

I've just bought 25,000 at 34.2p. There seems a willing seller, so surprised its ticked up.

[moreforus] 21/9/2011 14:00

hmmm

expect to see a delayed buy??

[daytraders] 21/9/2011 13:27

lyonst5 - great trade then you got.

[daytraders] 21/9/2011 13:13

moreforus - cheers for that, what one is the UK number, i aint phoneing abroad :), but surely they must have a email address, not happy that none on there website work.

[lyonst5] 21/9/2011 13:11

They were quoting 34.2p on both the bid and offer ?

[daytraders] 21/9/2011 12:58

lyonst5 - so your buy showing up as a sale then at 34.20p, i thought they were sales.

[moreforus] 21/9/2011 12:56

call em up

Alok Dhir, Non-Executive Director of Dhir India, added:

"Despite suffering from a number of unexpected delays, the management team is in the final stages of realising a number of the Company's assets."

For further information, please contact:


Shiva Consultants Evolution Tavistock Dhir India
Securities Communications
Alok Dhir Jeremy Ellis Jeremy Carey Charles Hambro
Shivi Agarwal Chris Clarke Simon Compton
Tel: + 91 11 4241 Tel: +44 (0) 20 Tel: + 44 (0) 207 Tel: + 44 (0)
0000 7071 4300 920 3150 7776 1966 74

[daytraders] 21/9/2011 12:55

Anyone got there email address ? i just went to there website and sent off emails to both listed on there contact page and got the following return emails ?


Recipient:
Reason: No Such User Here


Recipient:
Reason: 5.1.1 User unknown

[lyonst5] 21/9/2011 12:51

Just added 25k more. I have been lurking here and adding a few on the sly of late. Any views on the management ? Can they be trusted, as some of the deals could be open to being less than opaque.

[daytraders] 21/9/2011 12:32

it will return great value to all of us at these prices within a year or less(even in a month or two), you cant spreadbet this company either, so off alot of peoples radar's and watchlist's.

[hugepants] 21/9/2011 12:05

Still DHIR wouldn't have invested £20M in India if they expected any problem getting the money back out!

[hugepants] 21/9/2011 11:53

I think the £5.18M is in the UK holding company.

[daytraders] 21/9/2011 11:49

But the cash of 5.18 mill is already released surely, otherwise would not be allowed in accounts ? or do you mean the cash coming to us ?

[praipus] 21/9/2011 11:48

LCAL supposed to be listed on the Bombay Stock Exchange
I cant find the listing any bright ideas?

A: Lords Chloro Alkali Limited (?) SCRIP : LORDSCHLO

[moreforus] 21/9/2011 11:48

the fund invested in illiquid assets..that;s reflected in the conservative valuation imho.

[daytraders] 21/9/2011 11:47

Lets also not forget, that the nav of 125p or 134p is based on low valuations as well, so could in the end fetch even more.

Therefore, while the Investment Manager is taking more intensive steps for realisation of such assets, the valuations provided in this Annual Report reflect suitable discounts.

[hugepants] 21/9/2011 11:46

Agreed but you'd think time consuming more than a serious problem given DHIR appear to own 90%, or thereabouts, of the SPVs. Then again I'm not intimately acquainted with the Indian legal system and how easy it is to repatriate cash to foreign countries. Also the directors haven't been buying which makes you wonder why not given the huge NAV discount.

[tiltonboy] 21/9/2011 11:13

I'm not an expert on these matters, but if it's stuck in an Indian SPV, I would presume it's not as simple as "wiring" it to a UK bank account.