Share Name Share Symbol Market Type Share ISIN Share Description
Duke Royalty LSE:DUKE London Ordinary Share GG00BYZSSY63 ORDS NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 39.60p 39.40p 39.80p 39.60p 39.60p 39.60p 290,000 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 0.0 -1.4 -0.2 - 38.36

Duke Royalty Share Discussion Threads

Showing 26 to 49 of 50 messages
Chat Pages: 2  1
DateSubjectAuthorDiscuss
05/12/2017
13:57
@otherwys, Thanks for your comment. I understand where you're coming from, and the dilution in truth isn't huge, but two points: 1. Why not issue the new shares at say the mid-market price, or even a weighted price - or even better, a premium! 2. If it's going to be at a discount, all shareholders ought to have the opportunity to subscribe (rarely cost-effective, but back to point 1.) DUKE last issued shares (37.5m) in March, at....40p. So at least they're consistent :)
spectoacc
05/12/2017
11:05
Hi Specto, Yes I too have suffered from dilution and in general don't like it. However I think this is a different circumstance. Normally there's a single asset producing revenue, and when more shares get issued that revenue gets split between more shares, so every share has less. In this case, the extra funds will be used to add assets (new royalties) which will be earning revenue; and as the cost base for this type of business is low and pretty much fixed, the dilution is actually in how much of those fixed costs get attributed to each share, so the value per share increases. Simplistic example: £10m asset earning 10% revenue with costs of £0.5m, split between 10m shares: revenue = £1m, costs = £0.5m, profit attributable per share = £0.50. Add £10m shares at £1 each and invest in further assets earning 10%. Then you have £20m assets earning £2m with costs of £0.5m; profit attributable to each share = (£2m-£0.5m)/20m shares = £0.75. This is the beauty of Duke's model; this fundraising will allow an uplift in dividends, which then drives share price up, which then allows the next fundraising to be less dilutive, and so on. It's a virtuous circle. Look at Artemis (Canadian royalty company - share price history, dividend history, fundraising history - it's a proven model. Needless to say, I love it; but of course DYOR! GLA Otherwys
otherwys
05/12/2017
07:15
Reads well, BUT - I'm never happy about dilution, even when small.
spectoacc
04/12/2017
22:05
" Duke Royalty Limited (AIM: DUKE), the royalty financing company, is pleased to announce a proposed conditional placing and subscription ("Fundraising") to raise at least £20 million, before expenses, by way of a Placing of New Shares at a price of 40 pence per share (the Issue Price) and a Subscription by certain overseas investors on the same terms. The net proceeds of the Fundraising will allow the Company, inter alia, to continue to finance its diversified pipeline of royalty financing opportunities. Highlights £ Proposed Placing and Subscription to raise gross proceeds of at least £20 million £ Net proceeds to diversify portfolio of royalty investments and provide working capital £ Two new potential royalty partners in advanced stages of negotiation £ Additional proceeds to execute on new identified opportunities and/or follow on investments in existing royalty partners £ Following deployment of capital, Duke could have exposure to up to 6 underlying companies through four Royalty Partners £ Increased dividend yield expected following deployment of capital £ Issue price of 40p per share" Excellent news, fundraising at minimal discount, targets for investment at very advanced stages of negotiation, returning >13% yield, and an expected dividend hike once completed. Not quite as I'd anticipated but very happy with this all the same. Hope others join the party soon! GLA Otherwys
otherwys
20/11/2017
13:23
I agree they'll be looking for cash; but I'm expecting a dividend increase to be announced by end December first. The maiden divi was announced off the back of their first deal, which gave them £900k in income. They now have almost twice that, and their business model seems to be: raise funds do deals increase div watch share price rise raise more funds at higher share price etc At least that's what Artemis have done successfully in Canada, and Duke seem to be modelling themselves on them. Very happy to be invested here. GLA, and DYOR! Otherwys PS new to ADVFN but I use the same name on iii and LSE
otherwys
13/11/2017
12:25
Now they have 4 royalties underpinned by : A River cruise company A Storage company specialising in the kitchen and bathroom business A window cleaning company in Denmark. A label supplier. 14 Million invested, cash payouts to Duke 1.74 million so 12.4% Decent diversification. But now out of cash so a share placing on the way IMO, at least they have a decent story to tell. http://www.signalhome.com/prices.html https://label-express.co.uk/ http://partnerservice.dk/
stevie blunder
08/11/2017
16:31
Good to see they will be cash flow positive going forward On the down side a lot of new warrants and shares issued Partner Value Investments looks complicated and no proper explanation of what they did to earn the warrants. But if PVI have 9.6% of Duke they are incentivised to get some more deals It is all about execution as ever, painfully slow at the moment. Roll on the next deal!
stevie blunder
08/11/2017
16:07
Read pretty well today I thought (I didn't read it all).
spectoacc
06/10/2017
08:12
Yes a slow burner until they build a track record.
stevie blunder
06/10/2017
07:47
Missed that this morning, ta. Been weak, & on a dreadful spread - and they take "esoteric" to a whole new level. But at least the cash is finally getting deployed. As you say - possibility they'll try to raise more in near future.
spectoacc
06/10/2017
07:36
Good news this morning. Perpetual deal, with a buyback option after 5 years? Guessing the buyback would be eye-wateringly expensive for Lynx 12% headline return, slightly reduced from the first deal Running out of money now with more deals in the pipeline, so share issue on the way.
stevie blunder
29/6/2017
13:12
Not a bad move on (small) XD day.
spectoacc
23/6/2017
16:53
Yes, market cap of £18 million and assets at year end of £14.4 M I suspect they have one other deal nearly completed hence the size of the cash raise, but WDIK. Their running costs will be pretty much fixed, so getting scale by doing some deals will be really important in spreading costs. Currently their costs would eat up most of the cash from the first investment. Encouraging to see AXA, Henderson and Walker Crips on the register.
stevie blunder
23/6/2017
12:07
Compared to what they said at the fundraising re pipeline, making the "first investment" seems to have taken a while - and presumably not much happening with the rest of the cash? Like the fact the d's are in; not so keen on the premium to (last stated) NAV.
spectoacc
22/6/2017
16:05
!FOLLOWFEED Duke Royalty is the first mover in London to apply the Royalty Model to Businesses outside the Mining Industry. "Headquartered in Guernsey, Duke Royalty Limited has been established to provide alternative financing solutions to a diversified range of businesses in Europe and abroad. Duke Royalty's experienced team and exclusive partnership provide financing solutions to private companies that are in need of capital but whose owners wish to maintain equity control of their business. Duke Royalty's royalty investments are intended to provide robust, stable, long term returns to its shareholders." "Receive capital, Retain control. Our capital empowers you to focus on your long term business goals without giving up control or diluting ownership. Duke Royalty provides capital to companies in exchange for rights to a small percentage of future revenues. Our criteria focuses on intellectual property assets and stable, cash flowing businesses." http://www.dukeroyalty.com/ They have made their first investment: "Post financial year end, on 6 April 2017 the Company announced its inaugural royalty financing agreement for €8.0 million with Temarca B.V. ("Temarca"), an established European river cruise provider. With a cash-on-cash yield of approximately 13 per cent, this inaugural royalty financing agreement will result in Duke operating at a cashflow positive run rate following the commencement of monthly distributions in May 2017." This investment is going well and the company has stated that the Royalty will likely rise by 6% in each of the following 2 years, resulting in them receiving 13 x 1.06 x 1.06 = 14.6% on the initial investment from 2019. They are targeting a yield of 5% based on the placing price of 40p and have declared a first dividend of 0.5p. Dividends are to be quarterly. Obviously with only one investment there is substantial risk. They claim an investment pipeline of £75M. They will clearly need to raise cash if they are to make many more deals, they only raised £15M in the March 2017 fundraise. So there will be placings and they may take on some debt. Altogether I think it is an interesting company and have made a small investment, about 1% of my folio.
stevie blunder
21/2/2005
10:22
Thats about it.
xvzc
16/12/2002
17:11
The guys at trumedia are quite sentimental-- bound to offer a good deal for presents for Mum. wc1
wc1
16/12/2002
17:07
thanks all. much appreciated.am loking right now. GF - i'm sure i don't know who you mean ;¬)) porky
pork belly
16/12/2002
16:58
Droogy, you'll get a reputation sneaking up on people like that! goodfella, Drink ya milk, ged on ya hoss and git th' hell outta here or I'll run ya outta town, ya scum suckin' varmint!
mi££ions
16/12/2002
16:53
LIKE HELL I DO.
thehairydagger
16/12/2002
16:46
porky IF you cannot get John Wayne their are some cowboys in the boardroom of a company you may know
goodfella
16/12/2002
16:35
porky, http://www.amazon.co.uk/exec/obidos/search-handle-form/202-1773670-1656668 good luck.
mi££ions
16/12/2002
16:33
Here u r M8Y: http://www.amazon.co.uk/exec/obidos/search-handle-form/202-0202604-0489459
droogy
16/12/2002
16:31
try www.trumedia.co.uk John Wayne might not be on site but plenty of helpful email advice available overnight wc1
wc1
Chat Pages: 2  1
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