Dipford Share Discussion Threads

[cyprussteve] 12/3/2008 18:02

Their webpage is currently down - one assumes for updating !

[topvest] 12/3/2008 16:33

Had this with other AIM companies sending out their annual report to shareholders and not putting out an RNS. AIM need to tighten up in this area.

[topvest] 12/3/2008 16:32

Blue Oar must need a brain transplant! So, you announce that you need a working capital injection at 5p (when the share price is double that) and you don't need to advise the market. Would they also advise a FTSE100 company to do the same --- there would be an uproar!

[kenatbabken] 12/3/2008 15:43

How else are investors with shares in a nominee account supposed to know,
They can do a placing but not an EGM without an RNS

[aleman] 12/3/2008 15:38

Somebody getting back to me. He seems to think they have been advised by their broker they don't need an RNS.

[kenatbabken] 12/3/2008 15:31

For further information please contact:-


Jonathan Custance Baker, Chief Executive

Dipford Group plc 01392 256800

Barrie Newton, Blue Oar Securities Plc 01225 424666

Mike Coe, Blue Oar Securities Plc 0117 933 0020

[aleman] 12/3/2008 15:28

I'm trying to find the company secretary's phone number but can't access the website.

[topvest] 12/3/2008 15:25

That's what I thought - you would have thought an RNS was due. Funding has always been tight as they have loans that need to be repaid, quarterly I think. I suspect credit crunch has not helped either!

[kenatbabken] 12/3/2008 15:16

As at the 19th December the had £548k cash in the interims.They can,t hold an
EGM and fundraising without telling the market

[topvest] 12/3/2008 15:06

EGM on 7 april in Exeter. £350K+ committed in shares and convertible loans. I guess this indicates why the share price fell a few weeks ago, as some already were aware of the fact that they were short of cash. Not surprising, I suppose.

[aleman] 12/3/2008 15:02

Date and location , please. I have not received anything. It will probably be near where I live.

[topvest] 12/3/2008 14:57

EGM notice received in the post to allow the issuance of more shares at 5p for working capital purposes. One would have thought that this should result in an RNS given it is half the existing share price....makes you laugh!

[aleman] 11/3/2008 10:55

I see Tangent have shown their hand with what I think is an opportunistic bid at TMN. Shares of many small caps are low at the moment as modest selling by PIs with cashflow problems have pushed prices down while possible new buyers have sat on their hands. I do not believe that many shares reflect the fair value that 90% of holders would see in a normal market, never mind what they would want in a bid situation. I hope the bid at TMN is thrown out. Details are still awaited at AMU but the share price there is still at a ridiculous p/e of about 3.3. It is a very sorry market for small caps at the moment and I don't blame opportunists for having a go but existing holders should not cave in. The few smallcap results to come out so far that I've seen have been pretty good and prices will recover if holders don't panic.

ken - I'm sure a small VC fund would back the management here so they would not have to borrow that much.

[kenatbabken] 11/3/2008 10:02

A fly in the ointment is obviously finance in any MBO,There would be cost savings in delisting but high costs in servicing the debt in the current credit
markets.

[dickstertwo] 11/3/2008 09:43

I see Rupert Cattell the Founding Director who left has now set up a similar operation -

www.businesssalescentre.com
He has received very modest financial backing from BP Marsh ( bpm) the venture capital provider.

I also looked up www.TurnerButler.co.uk who are running a similar business I presume they are privately owned.

As regards DIP - virtually all the original institutional backers have remained in there - surely they can't be happy with the share price
As Aleman suggests its an obvious take over /take out situ.
Perhaps the 27% HSBC Swiss based nominee doesn't want to play ball.

[cyprussteve] 10/3/2008 16:27

Hi Aleman,
An interesting thought - I take it what you are suggesting is a management buyout ?
Given that the share price has risen some 20% in the last few weeks, with no news, it could be that something is in the wind - and, I would agree that they do look cheap at the current share price - I really have little knowledge of how such a buyout takes place - but, as the MD already holds almost 10% of the shares himself, it would presumably have to be a deal which offered him substantial benefit - he last bought 25,000 shares as per the RNS below dated 27-07-06 at a price of 50p.
Regards
Steve
"LONDON (AFX) - Dipford Group PLC said executive chairman Jonathan Custance Baker has today purchased 25,000 ordinary shares in Dipford at 50 pence per share. Baker now holds 1,102,471 ordinary shares, representing approximately 9.49 pct. [e-mail] slm"

[aleman] 10/3/2008 15:33

I noted recently an approach for AMU, which I hold, and TMN, which I was thinking of buying as they have come off lows. I suspect management involvement in both approaches. In any event it seems financing is available to fund takeovers of these cash-generative smallcap companies. Of my other holdings , I think DIP has to be the most ripe one for a management bid to take it private, not forgetting the listing cost which seems a poor investment given the current market cap. (I also note there is huge director buying of large companies where financing a bid to go private seems unlikely so they take advantage of low share prices in the only way they can.)

[topvest] 07/3/2008 16:50

bounced back nicely.

[cyprussteve] 06/3/2008 12:14

Agreed - I believe the foundations have been built, and that 2008 will be the year that DIP begins to generate significant growth - I feel sure it is undervalued at the current share price
Interesting to see the Directors holding amongst the major shareholders - I always like to see that - plus, only about 25% of shares in circulation - ( approx 75% held as below ) - hence potential for high growth if investor confidence grows.
Regards
Steve
HSBC Global Custody Nominee (UK) Limited 27.95%
BNY (OCS) Nominees Limited 14.96%
Jonathan Custance Baker (CEO) 9.48%
Dartington Portfolio Nominees Limited 5.31%
Rathbone Nominees Limited 4.71%
HSBC Global Custody Nominee (UK) Limited 4.30%
Giltspur Nominees Limited 4.22%
Chase Nominees Limited 3.15%
CFS Nominees Limited 3.11%
Miles MacEacharn (director) 1.23%

[kenatbabken] 06/3/2008 11:56

Only 2 MM,s so liable to move quickly,There were,nt that many shares sold on the way down so logically not many buys to send it back up

[bachaan] 06/3/2008 11:49

looks good at these prices

[aleman] 06/3/2008 11:40

10k pushes the price up? :)

[aleman] 05/3/2008 01:41

Nearly 2% of the company has been bought since Thursday. The price has risen steadily and there has been no selling so it is likely to continue to creep up until a seller appears, especially if buying continues, because the MMs must be short of stock. I can see these getting back to 15p (where the p/e might be only around 7).

[kenatbabken] 04/3/2008 17:40

Aleman
Thats exactly what I was trying to do buy up that 50k sell but you beat me
to it,Ive had it on my list for a while.

Have a look at DTEC gonna be a flier if they ramp up production and will be a
world leader with their technology,Also bought into DGM which I have a feeling
might be on the turn now they,ve got rid of the UK side of it.I,m also quite
heavy in GDP a gold recovery and soon to be mining company,Also CHX should be a
winner once all the permissions for mining are approved.Also in TMN as you know.Commodities are flying,Watched NBPO and AEP but did,nt buy (What a numpty)