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Share Name Share Symbol Market Type Share ISIN Share Description
Dignity Plc LSE:DTY London Ordinary Share GB00BRB37M78 ORD 12 48/143P
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 0.18% 545.00 53,206 16:09:12
Bid Price Offer Price High Price Low Price Open Price
544.00 545.00 545.00 543.00 544.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 353.70 32.00 24.20 22.5 273
Last Trade Time Trade Type Trade Size Trade Price Currency
18:28:20 O 1,000 544.784 GBX

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Date Time Title Posts
31/1/202307:48DIGNITY (DEAD CERT)2,524
01/8/201809:01Dignity (DTY) One to Watch on Wednesday 7
12/11/201211:00What does Dignity mean ?11
11/5/200918:05*** Dignity Plc ***2

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Posted at 04/2/2023 08:20 by Dignity Daily Update
Dignity Plc is listed in the General Retailers sector of the London Stock Exchange with ticker DTY. The last closing price for Dignity was 544p.
Dignity Plc has a 4 week average price of 498p and a 12 week average price of 363p.
The 1 year high share price is 699p while the 1 year low share price is currently 320p.
There are currently 50,036,916 shares in issue and the average daily traded volume is 67,155 shares. The market capitalisation of Dignity Plc is £272,701,192.20.
Posted at 31/1/2023 07:48 by exfortisd
Tend to agree with all of the above. Just slightly weird no public support from jakes vs Artemis giving public support. But guess he has nothing to gain from public support so may as well wait to the final moment.
Interested to see how Artemis will spin this to their own shareholders - receiving no control premium above their entry price/ losing voting rights/ delayed exit. In return for the privilege of entering a fee carrying vehicle using blackbox NAVs calculated by the buyer. Which they could have bought on the open market in the first place but presumably chose not to. End up with less exposure to the same asset, worse shareholder rights, worse liquidity, and incurring transaction costs + ongoing fees. The joys of active management!

Posted at 12/1/2023 11:18 by exfortisd
Just a comment for interested shareholders to look at p92 of the bond doc (p153 of the pdf). Where they amend the permitted disposals on the real estate properties (footnote pasted below). I think they mentioned at one of the AGMs that the company owns c300 residential properties (often flats above ground floor shop). They had commissioned a valuation report to assess the property portfolio and had pledged to share the findings with shareholders in due course. To me this footnote suggests they have received the (at least preliminary) results of that analysis. Hopefully the Board will share this with shareholders before any deal is endorsed. We have no idea how many properties could be sold, presumably a subset of the total. But illustratively £300k x 300 is is £90m or £1.80/share


"[15 This is now too low and has prevented Dignity from disposing of properties where they are relyiny on a rollover.
Additionally, it also causes problems with sales at auction where the guide price is much higher than
this and as such consent pre-auction is required. The proposal is therefore to update this threshold to
£300,000 on the basis that: (a) this would align with what would typically be average auction prices; and (b)
for most of the properties within the Securitisation Group it is anticipated that this number would now be
around or below £300,000]."

Posted at 10/1/2023 20:48 by gargoyle2
Anyone managed to decipher today's holdings RNSs from Valderrama? Yellow (SPC) Bidco Limited is the potential bidder, acting in concert with Sir Peter Wood, Castelnau and Phoenix. I can't work out what their current percentages in DTY are though. Nor have I seen a holdings RNS from John Jakes -- is he buying more, is he happy to accept the 525 bid? Still hoping that other shareholders will at least angle for a higher bid price, seems unlikely imo that Jakes will counter-offer.
Posted at 09/1/2023 13:34 by exfortisd
EDIT: advfn seems to block my links
If you search "Dignity Finance" on the Euronext RIS publication database you will see all the announcements to the bondholders. There is one from 7 sep 2022 with the consent soliciation announcement. That announcement contains a link to the memo itself: hxxps://deals.is.kroll.com/dignity

However link appears to be broken (I accessed a couple of months ago). If you email the agent at Kroll they can probably provide. Always seemed a bit odd it wasnt easily accessible on the DTY website, tho perhaps that is customary with such docs

Posted at 09/1/2023 12:58 by mtioc
Agree. I have G. in at c. £5.30 and my "logic" was offer price got G out whole. Jakes purchases require some explanation. G wanted out and price of liquidity? Wonder where Artemis are.

Crematoria valuation depends on assumptions. Current EBITDA for whole estate late £40sm, but fully developed with a deduction for central costs c. £55m. 20x mentioned by both industry figures and, I believe, Channon used a similar number in past presentations. D bought FSL in a distressed sale in 2016 for c. 15x. However, 5% yield of FY21 may be be more now. I would say between 17 to 20x. There is some long term inflation protection.

Where do you find the consent solicitation memo?

Posted at 09/1/2023 08:03 by exfortisd
Additionally, it seems poorly understood that the bondholder consent granted DTY the ability to sell the 7 crematoria assets to its own prepaid funerals trust. Releasing some cash to repay some debt, but without losing any control of the crematoria. This also gives the board full visibility over the timeline of the paydown (rather than the uncertainty of trying to find a third party buyer). Instead of explaining this properly to the market it seems they have chosen this opportunistic take private
Posted at 06/1/2023 17:20 by mtioc
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.

Posted at 06/1/2023 13:18 by edmondj
Schroders declared 5% from zero yesterday:

Https://www.investegate.co.uk/dignity-plc--dty-/rns/notification-of-major-holdings/202301051518168515L/

Posted at 04/1/2023 16:29 by bigbigdave
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").

Posted at 19/12/2022 14:58 by qs99
well share price is reacting nicelY!
Dignity share price data is direct from the London Stock Exchange
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