Dignity Share Discussion Threads

[mtioc] 06/1/2023 17:20

Agree with comments above.

While I appreciate the logic of restructuring etc.. off the public market, and the option for current shareholders to participate either as part of private Valderema or listed Castelnau, Channon et al seem uncomfortably close to the business for an uncontested offer.

Sir Peter Wood is a major investor in Castelnau, so far from independent.

If Jakes is part of Valderma now or in future, some may question his 3% purchase on 17 Oct, when negotiations were seemingly quite advanced, and his 6% purchase in Dec, when there appears to be an agreed but unannounced offer significantly above the quoted share price.

I wonder if the private investors will get the same information as the bidders to inform their decision to accept (a) cash, (b) Valderma stock or (c) Castelnau shares. At the very least, they should be made aware of the results of the marketing of the crematoria during 2022 and the position with bond holders. Arguably, they should have access to the Valderma business plan.

While in these situations, you want to be measured on a public BB, this all seems a little cosy for all the reasons set out in this thread.

[edmondj] 06/1/2023 13:23

July 2022 interview with Gary Channon. He seems to enjoy riding the risk curve: backing Mike Ashley & son-in-law, also AO World, besides Dignity.

"His determination never to sell funeral provider Dignity Group": maybe he is in love?

[edmondj] 06/1/2023 13:18

Schroders declared 5% from zero yesterday:

[gargoyle2] 06/1/2023 12:26

I see Granular Capital (who have been selling to John Jakes) have now sold their final 5%. Will be interesting to seeif JJ picked that up too.

[gargoyle2] 05/1/2023 21:29

Participating in a private entity with Gary Channon -- probably with little in the way of minority shareholder rights (including proper exit right) -- think I'll pass on that. He's only offering it up imo because he knows he's getting the company for a steal and needs to offer some incemtive to approve the deal .

[velocytongo] 05/1/2023 21:16

In fairness to Gary Channon, he is being very fair and there's the invitation to participate privately, which I will be doing. I'd be worried if this were a VC who would no doubt issue a series of instruments to cram you!

[tombomb] 04/1/2023 18:55

This was so obviously the plan all along. 'The board' - which Phoenix put in place after getting rid of every other director, turned down two low offers to accept this next low offer. Amazing hey!

The fox was let in the hen house when Whiley was ousted and Channon appointed himself as CEO.

[lochgarman] 04/1/2023 18:26

bloody hell....525 is a total rob. Im ineterested in hearing about the other investment option all the same. Dignity is well worth high double digiuts long term.

40- 50 £ in ten years time.

[squidsgone] 04/1/2023 18:04

Let’s hope a competing offer or two arrives - not happy with 525, and neither should the Board be.

[julian1000] 04/1/2023 17:24

Yippeeeee!

[qs99] 04/1/2023 16:56

Happy days....DYOR

[mighunter] 04/1/2023 16:52

Sheer opportunism just as the bondholders have consented and initial results playing through. How many offers need be tabled to the Board across how many months before Shareholders are put in the picture? Raging!

[velocytongo] 04/1/2023 16:52

I agree with you lomax99. We's been robbed !

[lomax99] 04/1/2023 16:46

Daylight robbery compared to his share price musings at last years AGM, no wonder he wants to take it private!

[linton5] 04/1/2023 16:41

And there you go boom boom 🦊

[bigbigdave] 04/1/2023 16:29

04 January 2023

Dignity plc

Advanced discussions regarding a potential recommended cash offer

The Board of Dignity plc ("Dignity" or the "Company") has received a series of unsolicited proposals from a consortium comprising SPWOne V Ltd ("SPWOne") and Castelnau Group Limited ("Castelnau", whose discretionary investment manager is Phoenix Asset Management Partners Limited ("PAMP")) (together, the "Consortium") in relation to a proposed acquisition of Dignity to be made through the Consortium's joint venture vehicle, Yellow (SPC) Bidco Limited ("Bidco") .

Dignity received the first proposal from the Consortium in relation to a possible cash offer at a price of 475 pence per Dignity share on 13 October 2022 (the "First Proposal"). Subsequent proposals were received at 500 pence and 510 pence per Dignity share (together with the First Proposal, the "Proposals").

[velocytongo] 29/12/2022 19:10

It was a good article. Thanks Julian1000

[qs99] 29/12/2022 07:24

Thanks Julian1000 interesting article.

I sense we will get a further squeeze & a sale & leaseback would make a lot of sense to free up capital and reduce debt risk here.

New CEO may also drive better performance and cash flows....

DYOR but sense this may settle around the £4.50-5 level given the squeeze and the opportunity.

CHeers and HNY
QS99

[julian1000] 28/12/2022 20:33

https://www.ii.co.uk/analysis-commentary/stockwatch-should-you-buy-small-cap-share-its-too-late-ii526339

[julian1000] 28/12/2022 20:31

Apologies I posted the wrong article

[julian1000] 28/12/2022 20:28

https://www.ii.co.uk/analysis-commentary/stockwatch-share-slump-chance-buy-small-cap-cheaply-ii526122

[linton5] 28/12/2022 15:30

That would be nice qs99🦅look at boom

[qs99] 28/12/2022 15:19

So a nice squeeze possible then, just need a NY tip haha

[linton5] 28/12/2022 14:11

Possibly but the seller is slowly drying up