Digital 9 Infrastructure Share Discussion Threads

[alan pt] 15/2/2024 22:38

Because any mad buying deform s'ip

[shinnas] 15/2/2024 17:25

Why all dam selling form pi,s

[donald pond] 15/2/2024 13:46

Moving nicely. 25/30p is fair value on what we know. Double that if we get anything positive

[williamcooper104] 15/2/2024 12:08

All PFI investments are structured like that - it's pretty commonIt just stands out in DGI9s financials as it such a big investment

[marlint111] 15/2/2024 11:33

Feels like good news. Removes any need for Verne to call on any cash from DGI while waiting for completion.

[invisage] 15/2/2024 11:11

Verne Global Iceland secures $17 million Accordion Facility

under its green loan debt facility



The Board of Digital 9 Infrastructure plc (ticker: DGI9) announces that Verne Global Iceland ("Verne Global") has signed its first increase (the "Accordion Facility") under the terms of its existing green term loan debt facility (the "Facility"). The increase of $17 million, brings the total aggregate capital commitments provided by the bank syndicate (the "Lenders") to $117 million. The debt proceeds from the Accordion Facility will be used to help fund Verne Global's growth capital expenditure pipeline and strengthens its cash position whilst the Company awaits the closing of the Verne Transaction.



The Purchaser has consented to entry into the Accordion facility and associated documents pursuant to the terms of the SPA. The Accordion facility will not result in a variation to the proceeds which D9 will receive from the SPA.



The triggering of the Accordion Facility has no impact on the key commercial terms of the Facility, which remain unchanged.

[tsmith2] 15/2/2024 10:15

Plateau-ed

[p@] 14/2/2024 11:06

Looks too clever for most,when and how do shareholders get the loan notes?

[marlint111] 14/2/2024 06:27

JakNife - this comes down to some tomfoolery with shareholder loan notes. The company is structured to make no money to avoid tax while the money gets funneled to shareholders via loans.

Take a look at oak blokes analysis which is pretty comprehensive:

hxxps://theoakbloke.substack.com/p/deep-deep-into-arqiva-part-of-dgi

[jaknife] 13/2/2024 22:52

rambutan2,

The balance sheet (page 91) reveals a business with negative net assets. Liabilities are greater than assets by £839.8m!!!!!

Why do you think that half of the business is worth more than zero?

JakNife

[rambutan2] 13/2/2024 22:04

For ref, Arqiva's full 2023 annual report. It's a big old business. With some very secure long term rev, plus some growth opps. And big, but secure looking debt. Not my usual cup of tea, but it does seem a bit nuts that the DGI9's half stake is being valued by the mkt at so little.

[loglorry1] 13/2/2024 18:54

The directors above ran the company into the sorry state it's now in. I see no point that they remain and contine to be paid for doing such a bad job and potentially frustrating a decent return to shareholders going forward.

[loglorry1] 13/2/2024 18:52

[e-mail]

Dear Chairman,

I represent a holding in excess of XXX shares in DGI9.

In light of performance to date, I urge you to remove the following directors from office as I no longer have faith in their ability to wind up the fund efficiently:

Charlotte Valeur
Aaron le Cornu
Gailina Liew

[ldrcvm] 12/2/2024 20:31

ghhghh
Do you have Barclays note please?

[f56] 12/2/2024 17:59

Renx up 214% today - easy money.

You should really shift across to this if you want to make some easy money.

[ghhghh] 12/2/2024 10:22

DP

But not enough time? 35p only works if takeover completed prior to Verne completion?

Post Verne then yes, PE will be sniffing but shareholders will want more.

Just reading the latest Barclay's Note, they say that DGI only on the hook for interest on the RCF, not current capital costs? Is this right?

[redhorse2020] 12/2/2024 09:42

Nonetheless there has been zero appetite to issue new equity below the NAV so my question is why would they do so now that they are in a wind down scenario? Seems unlikely to me.

[donald pond] 12/2/2024 09:17

Bounce looks on. New director Richard Boleat has deep PE connections and that's the area to watch imo. A takeover at 35p would be dirt cheap to anyone with deep pockets

[genista71] 12/2/2024 09:17

red horse - what do you think the "official NAV" actually means??...if you don't know will tell you..it is forecast revenues 10,20,30yrs into the future and then using a discount rate to produce a "nav". The assumptions are wildly optimistic and it is a pointless figure other than for the management of course to charge their fees off it..yes shareholders are getting ripped off in all directions.

[redhorse2020] 12/2/2024 08:45

I don't know much about Wind downs but given that one of the main reasons they're in this mess is an inability to issue more equity, would it not be highly unusual to attempt to do so now that they're in a wind down scenario and with the market price a fraction of the official NAV?

[shinnas] 12/2/2024 08:29

Rights issue is a possibility

[donald pond] 12/2/2024 08:14

Even given everything we know, the worst case NAV was given by Liberum as 48p iirc. The assets aren't rubbish, it's the financing that is poor. I can't see it being worth less than 30p in the near term

[tsmith2] 09/2/2024 18:57

I think we may well have seen capitulation in the morning

[alan pt] 09/2/2024 17:24

Well, that was interesting...

Fell 17% and then recovered to finish at almost exactly the starting price. Seems that Mr market also has no clue what the right value is for this