Dragon-ukrainian Propert... Share Discussion Threads

[envirovision] 07/9/2009 12:15

Very good article, nice to see their view of just how cheap the shares are. The elections will be held early next year. Things really can go only one way for ukraine and indeed one way for DUPD and thats up. Long term these shares will reward investors in a very very big way for sure.

[andy] 07/9/2009 12:09

holders should find this article interesting!



Enjoy.

[envirovision] 25/8/2009 12:35

Fantastic nav, fantastic trading update, craz crazy low price, how long can this go under peoples radars for?

[envirovision] 11/8/2009 11:39

OK with net cash of 50p per share after the tender offer out of the way, its time to start building a holding up again. Thats what i am doing.

[neal d morris] 14/5/2009 14:11

OK i know now, was a market maker accumulating for an order, its now in todays RNS they have just bought 250,000 shares at 36p to cancel which given net cash per share is around 55p will actually increase both net cash per share and overall NAV further. With the price well below cash value what better an investment could they possibly make, out right bargain imo

[neal d morris] 12/5/2009 16:04

would like to know where all these buys are coming from, on a good day you might get a couple of 50K trades and the odd pi trade of 5K shares but this is interesting, something i have not seen since i began following the stock, any thoughts anyone?:

15:35:26 36p 100,000 £36,000 O
14:18:27 36p 6,464 £2,327 O
14:18:27 36p 1,036 £373 O
14:12:22 35.975p 4,000 £1,439 O
13:44:52 36p 7,500 £2,700 O
13:27:15 36p 10,000 £3,600 O
13:27:15 36p 10,000 £3,600 O
12:34:50 36p 10,000 £3,600 O
12:34:45 36p 10,000 £3,600 O
12:34:09 36p 20,000 £7,200 O
12:26:05 36p 6,000 £2,160 O
12:25:30 36p 44,000 £15,840 O
12:19:10 36p 4,000 £1,440 O
12:19:10 36p 6,000 £2,160 O
11:46:10 36p 4,000 £1,440 O
11:46:10 36p 6,000 £2,160 O
11:33:28 35.9p 1,359 £488 O
09:24:45 36p 4,000 £1,440 O
09:24:45 36p 6,000 £2,160 O
09:19:16 36p 6,000 £2,160 O

[neal d morris] 07/5/2009 12:41

Time to buy? trading below cash value, $350 of investments discounted to zero! fromm iii

I note the IMF have agreed to lend Ukraine to help its battered economy after what must be six months of protracted negotiations, I guess the ukraine goverment have finaly agreed to many of the tax increases and public spending cuts to reach the imposed agreement. This is good news and could signal the end to Ukraines severe down turn.

Onto this company. Results out today, with end of year 08 loss of $47 against a profit of $45 for 07. This was obvously to be expected and given the illiquid property market in the ukraine, I suspect this was a bit optomistic to say the least. However lets look under the bonnet a little here.

With the share price falling well below the cash in the bank, it has purchased at below cash per share millions of shares. There are 130.8million shares in issue after buying some 11miilion shares now.

End of December NAV per share was £1.62 per share of which cash per share value was approx 60pence.

Today after more share buy backs and property aquasistions, I estimate cash balance of 55pence per share.

This leaves the shares trading at 26.5p a discount to cash of 28.5pence.

I have purchased today because in doing so I believe the Ukraine economy should have hit the bottom now the IMF restructuring has been agreed.

At 26.5 pence I am getting cash value per share of 28.5 pence per share after my purchase price, which does not even take into account all of its investments made since inception.

If I take these into account, cash of 60p per share and investment portfolio value of DUPD, of around £1 per share, (end december) I am getting a share worth at least £1.60 for 26.5 pence.

I note management directly own 11% of the company, whilst some of the directors other interests own a further 16% of the company, which is good.

I think given the strong cash balance, property portfolio, fact theres zero leverage and good news of IMF help, this could be a very good long term investment.

Sorry if my post is a bit garbled, but I am therfore marking this as a strong buy.

[dasv] 11/8/2008 18:37

NAV now $387m. I still haven't bought in here though.

[darola] 21/4/2008 10:43

Steady progress - have had a good look at this company over the weekend and it all looks pretty good.

The Ukraine property market is still on a bull run - this stock is good for around 60% over the next 6 months IMHO.

[darola] 18/4/2008 14:59

My mistake, thanks for the correction - still cheap....

[dasv] 18/4/2008 13:41

Darola - on proquote i get a market cap of £150m not $150m. I haven't checked other sources to confirm market cap yet but thought you should know. Even at $300m and $45m profit its not a bad PE considering expansion rate and debt.

[dasv] 18/4/2008 13:35

yep - the only thing is that property is a dirty word in the UK at the moment. Ukrainian property on the other hand ;)

[darola] 18/4/2008 13:12

Looks really good - a current Market cap of circa $150m and Net profit of $45.9m - Jeeze what a bargain.

I also like the comment in the Results - The Company had no short term or long term bank borrowings, or any third party loans.

I've gone in for a couple grand initally but after I have done some further research might well be back for more.

The current price is below the original float price, and I can't see how anybody could be dissapointed with the results - lots of 'significants' and the like.

Looks like a hidden gem this one....

[dasv] 18/4/2008 11:39

Latest prelims 14/4/2010:-

- USD231.3m Committed funds as at end of 2009 across 10 investments

- USD86.2m Cash balance as at 31 December 2009 (2008: USD 121.2m)

- GBP10.4m spent for the share buy back.

No bank debt at Company, or Group level.
* market cap is currently at a 43% discount to NAV if my sums are correct

Proactive Investors on DUPD:-

local news/interview:-