Dignity Share Discussion Threads

[hatfullofsky] 10/3/2021 12:03

Not good going into results on a down trend

[velocytongo] 08/3/2021 16:09

Results out soon

[hatfullofsky] 08/3/2021 15:45

This is getting silly

[hatfullofsky] 02/3/2021 11:03

I would have liked a comment from DTY, we are co-operating and fully support ....

[velocytongo] 02/3/2021 08:09

Dty have been preparing for this. It should give them the opportunity to buy out small scale players and increase market share.

[hatfullofsky] 02/3/2021 07:52

FCA launches pre-paid funeral plans consultation

The consultation, which closes on 13 April 2021, lays out draft rules showing how the FCA will improve standards in the sector.

The FCA has launched a consultation on how it plans to regulate the pre-paid funeral plans sector.

In January, the Treasury made legislation bringing the sale and administration of funeral plans within the FCA's remit, following concerns raised in the media and by consumer groups about the conduct and financial soundness of some pre-paid funeral plan providers. This will happen from July 2022.

The consultation lays out how the FCA will improve standards in the sector.

The FCA's proposals intend to ensure that:

· products meet the individual needs of consumers - we will ban the sale of products which do not provide for funeral services in almost all circumstances on the individual's death

· plans are sold fairly, including a ban on cold-calling to prevent consumers being pushed into taking out plans which may not be right for them

· the price of plans are fairly valued, with firms stopped from using additional fees to drive profits and a ban on commission payments to intermediaries

· consumers have access to the Financial Services Compensation Scheme and Financial Ombudsman Service from day one, should things go wrong

Sheldon Mills, Executive Director of Consumers and Competition said: 'Pre-paid funeral plans can help people and their families to manage the costs of a funeral. It is vital that consumers have confidence that their plan will deliver the funeral they expect at a fair value.

'The measures proposed today will help ensure that the industry serves consumers well.

'It's imperative the industry prepares now, ahead of its upcoming entry into financial services regulation.'

What firms must do to prepare

All firms in this sector now need to consider how FCA regulation impacts their business and begin to make the necessary preparations.

Over the coming months, the FCA will be providing a range of help and guidance to assist firms in preparing applications and getting ready to be regulated by the FCA.

They will need to:

· apply directly to the FCA for authorisation from September 2021 or, if appropriate, submit notification to become an Appointed Representative

· apply as soon as possible after the application gateway opens in September 2021 - applications made after 1 November 2021 may incur a higher application fee

· ensure they meet our standards to be authorised and, once authorised, follow our rules

· pay an application fee and then annual fees, based on turnover

Those funeral plan providers that cannot meet the FCA's standards, set out in this paper, or those which are not authorised before July 2022, are expected to cease trading in relation to funeral plans in an orderly way. This should take place before FCA regulation takes effect. Carrying on regulated business without authorisation after rules take effect is a criminal offence.

The FCA anticipates that the Funeral Planning Authority will continue to regulate providers of prepaid funeral plans registered with them, until FCA regulation begins in July 2022.

The FCA is asking for feedback on the draft rules and is asking for responses by 13 April 2021.

[velvetide] 01/3/2021 09:39

Hopefully it'll be a quiet year for these dudes.

[mr5k] 25/2/2021 15:38

Nearly 11 months without a CEO!

[hatfullofsky] 23/2/2021 07:03

Can't get a CEO or a CFO but can add a no name NED.

Board turning into a shambles

[hatfullofsky] 13/2/2021 11:13

Just validated (that didn't take long) VT check the latest declarations. Confirms my numbers.

[hatfullofsky] 13/2/2021 11:12

Stocko have different numbers but I have not validated against the latest declarations rounded numbers below :Phoenix 30%Granular 10%Artemis 10%What's your view on stakeholder value and the need to return it? DTY already speaking to their largest shareholder...

[velocytongo] 13/2/2021 10:50

Hat, are you saying that 3i's have 50%. Not sure that is correct - Phoenix is the largest:

Major Shareholders
Name Type Amount Holding %
Phoenix Asset Management Partners - 14,718,468 29.43
John Stewart Jakes - 3,669,612 7.34
Klarus Capita Ltd - 2,606,669 5.21
Granular Capital Ltd - 2,552,848 5.10
Artemis Investment Management LLP - 2,505,451 5.01
Harris Associates L.P. - 2,483,419 4.97
Prudential plc group of companies - 2,469,210 4.94
Pictet Asset Management Ltd - 2,394,069 4.79
Standard Life Aberdeen PLC - 2,335,990 4.67
Fredrick Harold Fentener van Vlissingen - 1,597,499 3.19

[hatfullofsky] 13/2/2021 09:16

3 II's hold 50% I'm having trouble moving away from a potential split or sale. Their shareholding value has been destroyed over the last 5 years.

[velocytongo] 12/2/2021 15:32

Back to 7 p/e. Interesting article on low cost funeral plans today in Yahoo! Lots of quotes from a competitor but Simplicity (DTY's low cost funeral op) offers the lowest cost and most transparent direct crem on the market. You have to request a direct crem quote from COOP. I'm thinking that the growth of low cost crem will help offset some of the margin pressure in the funeral business, which should bounce back when the L3 restrictions are lifted.

Interesting that the bonds are holding steady at 84p, having dropped to 73p during summer 202.

Also without a CEO and CFO, the stock is rudderless. That should change when senior management have been installed and who will articulate the strategic direction of the business. In the meantime happy to wait and nibble a few more. Still think the upside is at least 100% short term - just on the basis of re rating - and higher once/if the business starts growing again.

Vt

Vt

[hatfullofsky] 03/2/2021 14:14

Low volumes but looking like some support around 550p

[hatfullofsky] 03/2/2021 14:12

Suppressed SP, FCA worries ?

There's got to be lots of business (even if just Simple services)

Gonna be massive (adjusted) profits reported this year due to the property re-valuation. which reduces the ROCE, which should keep the CMA happy.

[velocytongo] 02/2/2021 13:45

You've got to believe with the C19 variants and the risk of further pandemics that the CMA threat goes away.

[imastu pidgitaswell] 01/2/2021 11:10

It's the accounting for the investments they have to match the liabilities - prepaid funeral plans.

Bit more detail a while ago - this one and the previous few posts:

[lenzcrafter] 01/2/2021 10:59

Can anyone shed any light as to why their fixed investments went from £21M to £965M in 2019?What happened?DTY seem to have a huge amount of debt, is there any good reason for this?

[velocytongo] 22/1/2021 17:38

One of the probs is no CEO or CFO and therefore no one for an institution to talk to. I expect the shares will bounce once a new CEO is on board. In the meantime, expect these shares to drift - but a good buying opp.

[imastu pidgitaswell] 22/1/2021 16:01

Mmmmm, watching it, but not inclined to join in just yet.

It's a really difficult one to price - there is a 'low' price and this might well be it. Volumes aren't the issue, it's margins - they just don't know what the ongoing steady state position will be, not do they when will happen when the CMA come back, nor do they know what their large active shareholder will do next re management.

Neither do I...

[hatfullofsky] 22/1/2021 15:36

Bit of a downtrend here. With all consideration to those that have lost loved ones, DTY must be very busy and profitable even at a lower price point.

[velocytongo] 11/1/2021 12:16

This is fitting into a definition of a Buffett business - it can run without a CEO!

[hatfullofsky] 29/12/2020 20:33

That was Granular Capital loading up then >10%

[hatfullofsky] 24/12/2020 08:40

Something's going on, low volume up 11%