Dowgate Capital Share Discussion Threads

[rawli] 18/11/2008 07:48

Site updated with an AIM float

also we now have 11 transactions in H2 2008 compared with 10 in H2 2007 so hopefully results will not be as bad as share price makes it look

Andy

[lr4850] 17/11/2008 19:15

site updated

[holgateholgate] 17/11/2008 09:33

Has every one hit their respective eject buttons on here...? Would anyone suggest this could be a buying op?

[whiterussians] 14/11/2008 15:37

By Claudia Assis
Of DOW JONES NEWSWIRES

NEW YORK (Dow Jones)--As Russian stocks sink deeper into the red, fund managers specializing in the country's stocks are still keeping their cool.
Russia's massive natural resources and huge cash reserves should keep the economy afloat near term. But the sailing will be extremely rough.
The dives in crude oil and metals prices, along with renewed concerns about state intervention in private companies, have sent Russian equities plumbing the depths.
Russia's two stock exchanges shut down Wednesday following share prices plunges. The bourses reopened Thursday, but in fits and starts. The largest stock exchange, the MICEX, was reopened on the regulator's orders.
The stock sales intensified following hefty central bank currency market intervention, a slightly devalued ruble, and an interest rate increase. Rather than reassuring them, the actions spooked investors further. The RTS stock index has fallen 24% this week.
The country's stocks are down 19% in dollar terms this month, and down 72% so far this year, according to the MSCI Barra Russia index.
Despite the losses, dedicated Russia investors are sticking to their guns, focusing mainly on companies benefitting from Russia's growing middle class.
"Russia is being punished right now," but will still grow 3% to 5% next year, said John T. Connor, manager of the Third Millennium Russia Fund, which has about $100 million in mostly Russian equities. "I'm happy with the hand I'm holding now," he said. "Consumer demand is still pretty good in Russia."
The economy should still grow about 7% this year.
Connor's hand largely consists of domestic-oriented companies such as cell phone companies Mobile TeleSystems (MBT) and Vimpel Communications (VIP), and Russia's largest food retailer, X5 Retail Group NV (FIVE.LN).
In addition to focusing on domestic-oriented stocks, managers at Los Angeles' Metzler/Payden, a $180 million fund dedicated mainly to Russian equities, have been concentrating their resources on large-capitalization companies. "(They) are less likely to run into liquidity issues," analyst Vladimir Milev said.
Third Millennium's Connor returned Monday from a trip to Moscow and Ukraine's capital, Kiev. In Moscow, people didn't seem afraid for their jobs and were not in a "panic mode," he said. "I didn't get a sense it was 1998 all over again," Connor added, referring to Russia's currency crisis and debt default a decade ago. "Stocks have been punished, but it doesn't mean the economy itself will collapse."
Russian authorities are moving aggressively to prevent just that.
The central bank said Thursday its foreign reserves fell $9.2 billion to $475.4 billion in the week to Nov. 7, down from almost $$600 billion in early August. The government can also draw on a Reserve Fund worth an estimated $130 billion to sustain public spending now that oil prices have fallen way below the budget assumptions.
"They still have quite a treasure chest there, which they can use to protect themselves," said Citi emerging Europe, Middle East and Africa analyst Andrew Howell. "But still, fear has set in."
Russia has been dipping into its savings at a break-neck pace that concerns investors, but the central bank said capital outflows peaked in September and October, so the need to use reserves to support the ruble is likely to decrease significantly in the coming weeks.
Perhaps, but investors also worry about the country's bloated banking sector and foreign currency debts weighing on many companies' balance sheets.
Political risk remains an issue as well, which has been demonstrated by government threats against firms and their owners.
Earlier this year, Prime Minister Vladimir Putin issued veiled warnings against coal and steel giant OAO Mechel (MTL), reviving fears of another Yukos - the once-giant oil company destroyed by allegations it owed back taxes.
OAO Uralkali (URKA.RS), Russia's second-largest potash producer, also fell earlier this month when the government reopened a two-year old environmental case against the company, which also re-ignited investors fears over a Kremlin move against a company.
To calm worries, Russian President Dmitry Medvedev said Thursday the government has no intention to nationalize companies.
Despite all the negatives, redemptions from Connor's fund have been "moderate," as most of its investors understand they'll have to weather the storm, he said.
Most clients of Harold Warren, head of sales trading at Russian brokerage Uralsib in New York, are sidelined, waiting for the dust to settle. "Things are quite difficult," he said, "but Russia is going to survive. It's not going to stop operating."
Others agree. While energy and commodities prices have fallen hard, Russia remains a top producer by volume of oil, natural gas and metals, global consumption of which won't disappear altogether. That means Russia's commodities will continue to generate income, albeit at lower levels.
The market is already pricing in much of that decline in earnings, Citi's Howell said. Valuations are now cheap - the average Russian company is trading at price-to-book ratios around seven times, versus their peak in 2006 P/E ratios stood at 16 times.
The market swoons and political risk concerns may have made Russia a tougher sale, but Warren sees stabilization in the first quarter of next year.
By most accounts, the country still has enough money saved and coming in to get from here to there.

-By Claudia Assis, Dow Jones Newswires; 201 938 4385; [e-mail]

[davidosh] 14/11/2008 15:14

Just checked and noticed the Edison forecast is now reduced to 0.53p earnings and no dividend which concerns me. This company has lost all the value of the acquisition of Ellis and 25% on top in the last two years. I do not think the new signings of personnel will change anything in this market...more likely to be a drag on earnings. To be honest I sold 90% of my holding when that deal was done as it seemed the wrong time to be buying in expensive luxuries into a dying market. Those are the moves you make at the first sign of an upturn not first signs of downturn IMO.

[lr4850] 14/11/2008 13:34

Hi WW

not been good on here for a long time. The divi payment brought some little cheer, but not much given the current share price Hoping for better times but from where i don't know? I find the DGT DAN fiasco interesting and wonder if there is a MBO on the cards for either or both of these???

[steve517757] 14/11/2008 11:31

Going through some of their press releases, it does not look like it propane

[propane] 14/11/2008 07:31

Was this one of Dowgate's?....


Galleon Holdings PLC
Change of Adviser
Galleon Holdings plc (AIM: GON), the AIM listed entertainment media company developing and producing multi-platform properties with a focus on emerging markets, is pleased to announce that Cenkos Securities plc has been appointed as Nominated Adviser and Broker to the Company with immediate effect.

[davidosh] 07/11/2008 10:30

This one was floated and has gone bust practically within six months



Not very impressive and sadly DGT seem to have far too many like this in their stable. I think the number of clients will decline rapidly in these markets as they do not have many built on good foundations with assets and long term history of steady returns.

[saddembinladen] 04/11/2008 17:42

Thanks for the update Rawli - anyone know the fees earned?

[rawli] 03/11/2008 20:02

website updated with 3 more transactions I think :-

• Network Group Holdings plc – disposal of Pertemps People Development Group Limited September
• CSS Stellar plc - disposal of Icon Display Ltd October
• Fletcher King plc - move from the Official List to AIM October

[blackm0nday] 31/10/2008 09:17

ps.
what is this in old money, 0.2p is that right?

[blackm0nday] 31/10/2008 09:16

Well, anyone confident enough to buy at these amazingly low once in a l.....
oops sorry make that several times in a lifetime levels.

[rawli] 30/10/2008 19:04

RNS Number : 0263F
CSS Stellar PLC
03 October 2008



CSS Stellar Plc




Disposal of interest in subsidiary



The Directors of CSS Stellar plc ('CSS' or the 'Company') are pleased to announce that CSS has agreed to dispose of its wholly owned subsidiary, Icon Display Limited ('Icon') to Maidstone Road Holdings Limited (the 'Purchaser'),a newly formed company backed by a consortium of investors which includes two of Icon's directors: John Francis and Keith Goodwin. John and Keith, as directors of Icon, are considered to be related parties of CSS for the purpose of the AIM Rules. Icon is one of Europe's leading providers of the design, production, supply and branding solutions, and the installation of signage, with offices in the UK, Europe, Middle East and Africa.




Following the review of the business announced with our 2007 Annual Results, the Board decided it is in the best interests of CSS shareholders to focus on the core business of Sports Marketing.




The total consideration receivable by the Company for the Transaction is £4,300,000, of which £4,000,000 is payable in cash on completion. This includes a payment of £841,000 in respect of a freehold property occupied by Icon, the assumption of £348,072 of third party debt owed by Icon which the Purchaser has agreed to discharge, and the settlement of £1,114,592 inter-company debt owed by Icon to the Company. The balance of £300,000 is deferred consideration payable in cash and will be paid by the Purchaser within twelve months of the date of completion. CSS has given various warranties and indemnities to the Purchaser in relation to the disposal.




The Purchaser has undertaken to CSS that if a future sale occurs within 12 months of completion then the buyer will pay to CSS a sum equal to 15% of any future sale proceeds or during the period commencing on the first anniversary of completion and ending 6 months thereafter then the buyer shall pay to CSS a sum equal to 5% of any future sale proceeds.




John Francis and Keith Goodwin and Andrew Hodson own 198,516, 113,663 and 81,029 CSS ordinary shares respectively. Under the terms of the sale agreement, they have each entered into an orderly market agreement governing any future sale of their shares.




Icon's operating profit for the year ended 31 December 2007 was £0.3 million (2006: £0.9 million) on turnover of £8.6 million (2006: £11.6 million), with net assets at 31 December 2007 of £1.4 million (2006: £1.2 million). The disposal is expected to generate a profit of £2.1 million before write off of goodwill of £2.1 million.




Due to the size of Icon relative to the CSS Group, the sale is conditional on the approval of the CSS shareholders at an Extraordinary General Meeting ('EGM') to be held on Friday 24 October 2008. A circular containing further details of the transaction and formally convening the EGM is expected to be posted to shareholders on Friday 3 October 2008.




Subject to the approval of CSS shareholders, it is expected that completion will take place following the EGM. The proceeds from the disposal of Icon will initially be used to repay both the outstanding overdraft of the Company and the mortgage outstanding on the property which was part of the disposal. Once this has taken place, all debt within the Company will be eliminated, and the Company will consider making investments in sports marketing businesses, predominantly in North America and Europe, which show considerable potential for growth and which will optimise shareholder value.




The Directors of CSS Stellar plc consider, having consulted with Dowgate Capital Advisers Limited, the Company's Nominated Adviser, that the terms of the transaction are fair and reasonable insofar as the Company's shareholders are concerned.




- ends -







Enquiries




Julian Jakobi, Chairman, CSS Stellar Plc

Telephone: [phone]




Tony Rawlinson, Chairman, Dowgate Capital Advisers Limited

Nominated Adviser to the Company

Telephone: [phone]

[rawli] 30/10/2008 19:03

RNS Number : 0262F
CSS Stellar PLC
03 October 2008



CSS STELLAR PLC

('CSS' or the 'Company')




Change of advisers




The Board of CSS Stellar plc is pleased to announce the appointment of Dowgate Capital Advisers Limited as nominated adviser to the Company, and of Dowgate Capital Stockbrokers Limited as broker to the Company.




Enquiries




Julian Jakobi, Chairman

CSS Stellar plc

020 7071 1400




Tony Rawlinson, Chairman

Dowgate Capital Advisers Limited

020 7492 4777




Dru Edmonstone

Dowgate Capital Stockbrokers Limited

020 7492 4799


This information is provided by RNS
The company news service from the London Stock Exchange

[cammy3] 30/10/2008 07:08

Board divided now? Spooner away. When does the buyback re-commence?

[ashleyjv] 27/10/2008 14:52

Dan were just checking out the competition IMO

[chelwood01] 27/10/2008 14:49

4p on the way , what did you lot expect.

c01

[cammy3] 27/10/2008 07:11

Bottom line is - Dowgate is FOR SALE.

[til fat lady sings] 25/10/2008 18:15

jsc,

Read the RNS again - it was the other way around.

tfls