Dukemount Capital Share Discussion Threads

[market master] 31/10/2018 12:33

Looks like our investor has got his wallet out :-)

[thehumbleinvestor] 31/10/2018 12:16

Dukemount Capital is a tiny little property company. Tiny.
Its market cap is barely £1m and shares are trading close to a year low.
Not much to get excited about...

Except

It has an interesting dual focus - assisted housing provision & long-dated income for pension funds

And it has attracted the attention of Darryl Eales (one time Chairman of Oxford United & serial inventor/entrpreneur) who now sits on the board of one of Dukemount's subsidiaries - DKE (Midlands) as a consequence of a JV with one of Mr Eales smaller ventures, Rascasse.

And yesterday, it's second property in Liverpool Wavertree received planning consent from the council, a decision that should trigger the property transaction in conjunction with Inclusion - a serious provider of assisted living accommodation throughout the UK

The business has been slow getting its model off the ground, but the commentary now is that it seems to have refined the process, got a financial backer (Eales?) and has a pipeline of c 12 properties under consideration

The shares are held tightly - the top 3 holders owning over 53%...and the major holder is Mr Dart the Chairman/CEO...Always good to see the head honcho having serious skin in the game

More curious for investors - this tiny little company is not on AIM - it is a LISTED company- it is on the FTSE Official list....now, why go to all the extra bother and cost? Maybe because to attract the institutions to work with you, you have to be on the main market..

Trading at 0.35p with a low free float and down from a high of 0.65p just 3 months ago..with positive newsflow starting...this could double over the next 2-3weeks. Beyond that? Optivia had an £8m valuation out last year (2.3p) but £8m for a property company? Any clarity on their access to capital could have a profound impact on the share price and a £15m - £25m valuation is entirely feasible in the next 12 months (4.5p - 7.5p)

All in my opinion..and DYOR!FOLLOWFEED

[thehumbleinvestor] 31/10/2018 11:12

Chopped...I am asked to ask you not to call our friend Mr Grumpy
Seems he is a good deal happier with the world this morning. His precise words were "At last!"

He tells me he has been nibbling a few shares this morning and that in large part he concurs with your 5 points plan. Especially point 1. He is of the belief that the thing that will spark life and noise here...and the herd...is visibility of a £20millon line of credit

It is insufficient to rely on Mr Gazzard's formless "financial partner" - this, in his view must be articulated expressly & substantively..

The next RNS may well be a new holdings notification, but though I asked him specifically on this point, he declined to commit a position

[choppedfried] 31/10/2018 08:56

Now then Humble, here are some thoughts to share with Mr Grumpy (though perhaps he is a little more serene today?)

The big news in the sector is the government loosening the purse strings for local authorities to use their capital reserves and borrow to build houses....the pace is going to pick up....the involvement of Darryl Eales (Rascasse) should not be understated...he is a serious player...and there must be some method in the Rascasse madnesss

There are 5 transformational steps to come...

1. Mr Dart brings a serious line of credit to the DKE table - to fund acquisitions
2. Mr Gazzard publishes a pipeline of transactions (substantive enough to give investor confidence, sufficiently nondescript to protect commercial & competitive sensitivities)
3. A series of new transactions in quick succession - I'd say, one a month for the 6 months following the line of credit becoming visible
4. Expansion of the DME plc team - perhaps with Mr Eales joining the main board & a fulltime CoSec who doesn't have a Tesco mobile phone and answers/returns calls
5. Visible & sustained revenues

The road is taking longing to traverse than anyone anticipated. But what is good for everyone to see: Mr Dart is delivering on his word - so, frustrations aside Mr Grumpy - there is every reason to remain & renew positivity and confidence...

Now let's start counting 1-5...

[dijon52] 30/10/2018 18:45

Planning permission granted. Fantastic news ?

[choppedfried] 30/10/2018 14:24

Ah well...on the money today...

[market master] 30/10/2018 14:21

Dukemount Executive Chairman Geoffrey Dart said, "I am pleased to be able to announce a successful planning outcome on our second acquisition in North West England. I anticipate a smoother flow of updates in the coming months"

[choppedfried] 30/10/2018 10:42

SOMETHING IS AFOOT

From Liverpool City Council...

Application Progress Summary
Application Registered29-06-2018
Comments Until02-08-2018
Date of Committee30-10-2018

There is a committee today, perhaps clarity on the Wavertree project is coming at last....seems it should be positive....given they have held back moving until matters were clarified..

Might also explain Humble's comments on DKE withdrawing the insider offer - perhaps everything will be in the public domain in very short order...

[market master] 29/10/2018 21:27

I hope he continues to buy up to 30% and gets a seat on the BOD. The planning permission committee in Liverpool meets tomorrow. So RNS is imminent.

[thehumbleinvestor] 29/10/2018 18:43

My takeout was that he is no mood for buying...but you never know...perhaps he will double his stake to 30%?

[market master] 29/10/2018 11:55

There could be plenty of share price activity if that is the case. Gary Carp may start to add to his 15% holding to gain more firepower i the voting?

[thehumbleinvestor] 29/10/2018 11:10

TROUBLE AT (FORGE) MILL?

Well well well....our 15% investor seems to be in a bit of a spat with the board.
Just come off a most curious phone call.
It seems our friend is most discontented with the lack of transparency with the board and its lack of delivery and lack of communications..

Did you know..that other than Dukemount plc - there is DKE(Northwest) DKE (Wavertree) DKE (Midlands) - the JV with "penniless" Rascasse and since Oct 8th DKE (Forge Mill) a subsidiary of DKE Midlands (and possibly connected to the Forge Mill property in West Bromwich)

It seems our shareholder has been vacillating between duping his holding or remaining involved...to this end the company appears to have offered to make him an insider (something he says he was not initially enamoured by) - and then both parties changed their minds.

Also he seems to think the Rascasse RNS was triggered prematurely by him writing directly to Darryl Eales to confirm/deny a rumour he was somehow getting involved with DKE...He would explain how or where the rumour came from but he did indicate it was someone "in the know" (one might say obviously given the rumour proved correct)

Anyway - I can say he was a little irritated this morning and is muttering something about resolutions to try and remove directors - PG & TlD - at the AGM.

What a mess. To think DKE should have, by its own plans, £500m of property in its portfolio by now....and it has lots of £50 companies set up, a dwindling financial base, 2 deals it hasn't managed to do anything with, a mythical pipeline but no action, a partnership with a cashless entity and a board that seems not to care for shareholders. Our friend may have a point, but there again, the company might be about to pull some huge left of field rabbits out of their hats and surprise everyone..

Going to be an interesting month ahead

[market master] 16/10/2018 11:30

I'm still holding and believe the BOD will deliver. Think the sellers are done now and they buyers will be paying up and over when news lands.

[choppedfried] 16/10/2018 11:17

Well Scotch...you still here....or sold up like the smart money has?

I followed your lead and wrote to this Nanson chap...who wrote back (see below)

Anyone saying the planning process is nearly done is talking complete BS in my view


There is flexibility within the planning process to agree extended deadlines with applicants to allow issues which arise during the planning process to be resolved. The revised National Planning Policy Framework (NPPF, 2018) requires Local Planning Authorities to approach decisions on proposed development in a positive and creative way… and work proactively with applicants to secure developments that will improve the economic, social and environmental conditions of the area. Therefore the LPA is working flexibly and proactively with the applicant in this case in accordance with the requirements of the revised NPPF (2018).


As the LPA is still working with the applicant on these issues I am unable to confirm an accurate determination date.

Regards,

Joseph Nanson I Planning Officer – Development Management
T: 0151 233 0286 I E: [e-mail]

[scotchoverice] 01/10/2018 13:56

problems in liverpool?

just had an exchange with the planning department...would be helpful if the board had the courtesy of explaining themselves to shareholders..


I am the case officer for the above application. As you are not listed as the applicant or agent on the application the details I can provide to you regarding the application are limited. Discussions are ongoing with the applicant regarding some matters which require clarification with the application, whilst these discussions have been productive they have not yet concluded and consequently I am unable to give an accurate date for determination of the application.


Kind regards,

Joseph Nanson I Planning Officer – Development Management
E: [e-mail]

[scotchoverice] 15/9/2018 22:13

Choppy
I was going to call you a pessimist but you might be onto somethingWhere is the pipeline, the deal flow, the city contacts
The JV company has no cash
DKE has no cash
None of this adds up - the share prices dwindles to sh1t...and the board are silent & invisible
This is not a business

[choppedfried] 13/9/2018 23:02

More value erosion today
Seems to me the board are asleep at the wheel
Remember they were, according to their laucch docs, meant to be signing £300m property assets per year...
Complete BS
They have no money
New jv partners have no money
So unless thre is a masterplan ...this is a dead duck

[choppedfried] 11/9/2018 19:09

know what you mean scotch, so much ambiguity. Just read poorman on lse and he seems VERY close to the company and he knows SFA...

Done a bit of digging on our JV partner, RASCASSE DEVELOPMENTS LIMITED
Company number 08630042 - but they're up to their necks in debt and have about £10k in the bank...not sure how this helps

[scotchoverice] 11/9/2018 11:29

So quiet
Thought we might have had some clarity around the new JV..there mus be some reason and logic ....doesn't make sense if it is just to sit on their hands and whistle dixie..and what was that about a fall out between the board and he investor...what happened there?

[thehumbleinvestor] 06/9/2018 05:58

VERY STRANGE NEWS FROM OUR NO3 INVESTOR

I don't know what happened, but I received the oddest communication last night from our significant investor.

It seems it had a major tiff with someone of his dissatisfaction with boardroom comms & decided to walk, telling the company he would be out by Xmas.

Seems like this weeks RNS has calmed him down...so he is not selling up after all

I can only think he was telling me this to post it here

OVER & OUT

[notable] 03/9/2018 14:12

JV announced today which should help them with acquisitions. Nice big name in the JV partner as well. Darryl Eales has huge investment experience as well as what i can see property development experience mainly in the Midlands. Good partner to have and who will hopefully help move this forward

[scotchoverice] 24/8/2018 08:31

Ha Choppy -
Very funny ..NOT
What do you know that others don't?
I know the Liverpool City Council planning process isn't due to deliver a decision until Sep 24 - I called them planning dept up and asked myself!
But I agree the cash position, the purported funder who was alluded to has vanished faster than you can say Kassam Stadium...
Is something rotten in the state of Denmark?
Out investor doesn't appear to have sold any material stock...perhaps he still has confidence or perhaps he is trying and their is no liquidity?

[choppedfried] 23/8/2018 22:47

Has the model broken?

According to the original business plan and listing presentation, DKE should have £400m of property assets by now....it hasn't got £400!!

They have missed every target, deadline and objective. The mythical funder has vanished. And their shareholder comms are very poor.

And they are almost out of cash

Run for the hills..