Ducat Ventures Share Discussion Threads

[maut too] 06/12/2004 09:28

all helps and whilst not huge numbers - it is significant


CAS Durlacher Corp : Liddell, Caplin buy shares
06-Dec-2004 09:21
Director: David Liddell
Shares/Stock acquired: 20,000 (0.10%)
Class of security: Ordinary
Price per share: 67p
Date of transaction: 03/12/2004
Date company informed: 06/12/2004
Total holding: 26,000 (0.13%)

Director: Anthony Caplin
Shares/Stock acquired: 20,000 (0.10%)
Class of security: Ordinary
Price per share: 67p
Date of transaction: 03/12/2004
Date company informed: 06/12/2004
Total holding: 127,142 (0.66%)

ICV Edited News from Dow Jones
0921 GMT Dec 06 2004

[maut too] 06/12/2004 07:39

I wouldn't trust mitzis


from todays Indy


Durlacher cash denial

Even after last Friday's statement from Durlacher, rumours that the stockbroker is looking to raise fresh cash refused to go away. The company was forced to put out the statement after a sharp drop in its share price, but the update failed to spark much of a rally. This is partly because Durlacher's rather wordy release to the Stock Exchange failed to deny the fund raising speculation outright. So here it is on the record from a spokesperson for the broker: "Durlacher is not looking to raise new money. "

[dionis] 04/12/2004 00:14

They want the money to build up the loss making fund management arm, which originally the Hirst brothers were going to dispose of, but have now decided to keep and build funds under management through an acquisition....crazy!

[mitzis] 03/12/2004 23:21

From the latest market report from UK Analyst.. rumours and Shakers....

[adh0] 03/12/2004 22:01

What source did you get that from mitzis?

[cvolbrac] 03/12/2004 21:43

They already have lots of cash on the balance sheet. Any ideas what they are trying to raise the money for?

[mitzis] 03/12/2004 20:39

they tried to raise £5 million @75p and nobody would touch it.. and then at 60p and no one would touch it and then at 50p....no one is interested.

[maut too] 03/12/2004 16:07

CAS Durlacher Corp : Note share price decline
03-Dec-2004 16:05
Durlacher Corporation note today's
decline in the Company's share price
and the steady decline during the
course of this week to date.
The Directors draw attention to the
Company's trading update released on
8th November 2004 which stated that
revenue for the six months to 31st
December 2004 is likely to exceed the
reported revenue for the six months to
Jun. 30 2004.
The Directors are pleased to report
that since Nov. 8, 2004, the Company
has continued to trade strongly and it
is expected that further transactions
will be completed before the end of the
year.
As at Nov. 30, 2004, the Company's
cash balance was approximately #8.1m.
At the same date, net current assets
were approximately #10.7m and net
assets stood at approximately #10.4m,
in each case having accrued for key
staff retention bonuses and having
provided for a significant proportion
of the costs associated with the cost
reduction and restructuring process
referred to above.

ICV Edited News from Dow Jones
1605 GMT Dec 03 2004

[hugepants] 03/12/2004 16:06

This was down 3p only 5 mins ago. Now showing +0.5p for some reason.

[mitzis] 03/12/2004 08:09

Still out of favor this morning...down 12%,

[maut too] 01/12/2004 12:15

i think the chances of that are minimal - they rely on credibility

[dmhzx] 01/12/2004 12:05

Can't see a management buy out on the cards.
The management know exactly what state the company is in and they're not fools.

Would not be surprised to see the sudden arrival of administrators though, because then the management will be able to 'buy' the good bits debt free for a song.

[maut too] 30/11/2004 18:24

on the 20th oct they were 62.5p mid price - exactly the same as they are now

[mitzis] 30/11/2004 18:01

I sad on the 20th October that they were heading much lower with a 40p target and it just goes to show that the market doesnt trust them even with after Stainforths departure...what price a management buy-out..?

[cvolbrac] 30/11/2004 17:53

Hi,

Posted this on TMF earlier - I reckon Net Current Assets will be around 40p when results are announced.

----------------------------------------------------------------------------

Durlacher does look good value at the current price IMHO.

Market cap £12.6m at 65p.

Net current assets were £10.8m at 30th June 2004. Let's strip out the £2m on the balance sheet for 'Provision for liabilities and charges' and say another £1m for further restructuring (redundancies and restructuring charge was £536,000 for the 12 months to 30th June 2004). This leaves us with £7.8m NCA, giving us an Enterprise Value for the business of £4.8m.

In H1 2004, there was a small operating loss of £0.28m on turnover net of cost of sales of £4.07m (an operating profit was achieved in Q2).

We know that H2 revenues will be higher than in H1 :



So one would imagine that H2 will be at least break-even, if not slightly profitable at an operating level (with overheads reducing).

Mr Kournikova suggested in a recent post ( that overheads could be reduced from £6m to £4m per annum. Therefore Durlacher could become nicely profitable without any increase in turnover.

Risk/reward looks good given the low EV, particularly if you think stock markets are recovering and there is more potential for IPOs.

Of course the flip side is that if markets remain subdued for a long period, revenues may fall again. But given the reduced overheads and strong balance sheet, they look well placed to ride out any storm.

Cheers,

Chris

[dionis] 30/11/2004 17:32

40p! What cash DUC has left only equates to 30p at best. And that is before they have paid out the redundancies. I am told the axe is still swinging.

[mitzis] 30/11/2004 10:49

Ha ha day dreamer......I was only joking..!
I predicted 40p a couple of months back...

[day_dreamer] 30/11/2004 10:10

Come on mitzis..you've been around here a long time !

It's the kdc/ainsoph/maut factor....he starts a thread
and they crash...remember marconi/telewest ?

Gravy

[mitzis] 30/11/2004 10:07

Why the big fall this morning...?

[maut too] 25/11/2004 09:32

Times today


'Mr Evershed, of New Star, said yesterday: "You would expect new issues to produce returns of between 10 and 20 per cent. They are higher risk and should have a higher reward." Returns from companies floated by Durlacher, a competing stockbroker, average at 19 per cent for the year'

[responsible lad] 11/11/2004 18:25

I doubt there will be any party for us this Christmas now bullish barnes after I sold all my DUC holding for about a £200 loss today. I will not be bothering to invest in DUC again after todays very surprisingly terrible performance.

If you want to make some money email me at [e-mail], and I will tell you the share that everyone is buying into at the moment.

[bullish barnes] 11/11/2004 10:25

buyers coming back in now

[dmhzx] 11/11/2004 10:17

Call me a suspicious old sod if you like.
The government has recently announced new rules set to take down the profits of brokers and MMS by limiting the spread (as I understand it).

As if by magic, the share price of some of the shakiest firm in the business suddenly rise (yes rise ) on the news, and a couple of days later start falling again.

Looks to me like whatever the opposite of a tree shake is. - a chance for all their chums to offload a pile of poo to some poor retail guys.

Remember, this one is still capitalised at way over its entire turnover and is still losing money, a position which some of the board is well experienced in.
If it all goes pear shaped, these boyos know the form, and you can be certain that their pockets won't suffer like yours will.

And it looks as though mindless optimism is genetically inbred to the Barnes's of this world. - All of whom have been to the same writing lessons.

[tomkin] 11/11/2004 07:49

still spamming/mindless c&p's ???

maut too - 11 Nov'04 - 07:47 - 301 of 301 (Filtered)