Share Name Share Symbol Market Type Share ISIN Share Description
Dragon-Ukr. LSE:DUPD London Ordinary Share IM00B1XH2B90 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 15.25p 15.00p 15.50p - - - 0 08:18:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Real Estate Investment & Services 0.0 -3.8 -3.2 - 16.68

Dragon-Ukr. Share Discussion Threads

Showing 376 to 400 of 400 messages
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DateSubjectAuthorDiscuss
12/7/2017
12:01
The circular does not contain any major detail. However, it is good that the BOD is telling shareholder how undervalued DUPD is. I think they are trying to put pressure on Dragon to raise their offer. Reading through the circular, it would seem that a 30% premium to the undisturbed price would be not great but at least more acceptable. That would imply at least an offer of 18p.
sophia1982
12/7/2017
11:12
Ah great, thank you!
ih_618510
12/7/2017
10:33
alch00 Circular is on the website now under Rule 9 offer
jbfnfn
12/7/2017
08:48
I can't find the circular anywhere yet though.
alch00
12/7/2017
08:31
Ok They put out another RNS after I departed for the pub. There is a circular available somewhere.
jbfnfn
11/7/2017
18:21
Whats going on? RNS on 29/6 said The Independent Directors will be writing to DUPD shareholders with its formal response to the Offer Document in due course and by no later than 10 July 2017 RNS today 11/7 "Independent Directors" now expect to be writing to shareholders later today with its formal response to the Offer Document. A further announcement will be released when this is published. The price is up today any guesses why? I have few of these, but I bought at 20p+ so I'm underwater. I'm just a penny punter but I wonder if I've missed some information somewhere?
jbfnfn
04/7/2017
09:59
Hi Centipede, thank you for your comments. I have always believed that DUPD's NAV is "understated"... See my post 355. I find it quite amazing that the company is not publishing the offer document on its website. Looking at the shareholders list, with this offer I think they have no chance to get to 75% which would allow them to delist. So maybe we are just at the beginning of a process.
sophia1982
03/7/2017
16:33
The results for the year ended Dec 2016 indicate a Net Asset Value of 47.7 million USD – roughly equivalent to 37 million £s. (HTTP://dragon-upd.com/files/DUPD%20_Financial%20statements%20FY%202016%20Final%20RNS%20version%20CLEAN.pdf). There is no leverage, and a cash balance of 7.8 million USD. The Offer from DCI ‘values the existing issued share capital of DUPD at approximately GBP16.4 Million’ Why would any shareholder take less than half the value of the company, given that there is also no debt and a positive chunk of cash? I suppose the key is how much the company is actually worth. Hopefully the directors will be telling us soon.
centipede
03/7/2017
15:31
Hi sophia1982, all I have is the notification sent by my broker - see below. I assume that my broker received the document and that they simply copied the relevant bit/s. The tone is somewhat threatening (by implication at least) - using terms such as 'mandatory', and saying that the offer only holds until they have got control of 50%. They're also negating the impact of the dividend by saying this will reduce the 'offer'. The offer comes from DCI (NOT from DUPD), and I also see that the independent directors of DUPD say that: "The Independent Directors will be writing to DUPD shareholders with its formal response to the Offer Document in due course and by no later than 10 July 2017. DUPD shareholders are strongly advised to take no action for the time being.Further announcements will be made as and when appropriate." Again, this all seems dishonest to me. Write down the company assets, then buy it cheaply. I wonder if any 'pressure' is being put on the independent directors? "MANDATORY CASH OFFER The Board of Dragon Capital Investments Limited (DCI), a wholly owned subsidiary of Dragon Capital Holdings Limited incorporated in Cyprus, has announced that it has increased its Mandatory Cash Offer for the whole of the issued and to be issued share capital of Dragon-Ukrainian Properties and Development plc (DUPD) not already owned by the Dragon Capital Group. The Offer values the existing issued share capital of DUPD at approximately GBP16.4 Million. The Offer remains subject only to an acceptance condition at a level of DCI needing to acquire or agree to acquire (whether pursuant to the Offer or otherwise) DUPD Shares representing more than 50 per cent of the voting rights then normally exercisable at a general meeting of DUPD. If any dividend or other distribution is authorised, declared, made or paid in respect of DUPD Shares on or after the date of this announcement, the Offer Price shall be reduced by the amount of any such dividend or other distribution. Terms: GBP0.15 per DUPD Share. If you would like to accept the Offer, please notify us by secure message or telephone no later than 5pm on 11 July 2017."
centipede
03/7/2017
12:18
Can anyone post a link to the offer document? I cannot find it. Thank you
sophia1982
14/6/2017
11:39
I am not talking about you. You have defended your thesis
sophia1982
12/6/2017
13:27
very kind of you to say so :-)
rjmahan
12/6/2017
12:25
It is also interesting that some very good investors have invested here and they have done nothing to defend themselves
sophia1982
11/6/2017
21:52
This looks to me as though I am being robbed. Devalue the company, then get it on the cheap. I must never, ever again invest in a foreign company on AIM. The poor reputation engendered by such actions means that other genuine companies won't be able to raise funding. In the end, we all lose.
centipede
08/6/2017
09:29
Arch looks like you were right and I was wrong...
rjmahan
05/6/2017
11:05
I don't think it is the way you say
sophia1982
04/6/2017
22:44
If I read Rule 9 of the Takeover Code correctly (big if), they're only required to follow up on the offer (i.e. actually buy the shares) if enough shareholders consent to bring their holdings above 50%. So if they don't actually want to buy the rest of the shares, they can make a bid of 13p. Then if less than 18% of the other 67% shareholders say "yes", they won't be obligated to buy anything. I expect they'd like to buy the other shareholders out - after all, they acquired 33% already so they must think it's undervalued. But if not, then it's not guaranteed that we'll be able to sell to them at 13p. ... *if* I understand Rule 9 right :-)
alch00
02/6/2017
17:49
I'm confused on tax - it is Cyprus domiciled and there is a double taxation treaty between Cyprus and Ukraine so in theory 0% tax. However they state: "(c) Litigation with tax authorities The Company’s investee Grand Development LLC (Green Hills project) is involved in litigation with tax authorities with respect to penalties of USD 437 thousand imposed as a result of tax inspection. Respective provision for the full amount of penalties has been recognised in the investee’s accounts as at and for the year ended 31 December 2015". If there are disputes - I would expect there to be some tax to pay therefore losses to carry forwards...
rjmahan
01/6/2017
17:31
Nice writeup, I did not think about the huge tax loss!
sophia1982
01/6/2017
14:55
Hi Sophia - he already had a pretty significant stake, with buying at 13p he can always sell to the company if they dont offer more than 13p.... I did the same thing - in smaller size :-( hTTps://deepvalueinvestments.wordpress.com/2017/06/01/dupd-almost-free-put-option-on-offer/
rjmahan
01/6/2017
09:58
anyone know Ernst Bader who has just built a significant stake?
sophia1982
30/5/2017
13:33
Very lowball, too lowball I suspect offer will be more than minimum...
rjmahan
30/5/2017
11:43
interesting
hugepants
30/5/2017
10:46
here you go: a lowball offer
sophia1982
20/5/2017
21:23
My thoughts on this are that the liquitity of Arricaco is terrible - in all 2017 so far about $500 has traded on the exchange. I doubt they could sell it given the economy and politics of Ukraine. This is undervalued - its why I invest but I would no longer trust receiveing what the market thinks Arricano is worth... Land - who knows ? A lowball offer wouldnt surprise me. I am looking to add on weakness and I suspect management think the same thing.
rjmahan
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