The Lemon Fool

Mark Jenner, Daejan’s company secretary, said there are “no current plans” for Daejan to cease being a publicly traded company.

https://www.thejc.com/news/uk-news/fres ... s-1.483616

https://www.thisismoney.co.uk/money/mar ... women.html

The Freshwaters will not give ground on this, or anything else. But I suspect that taking the company private is increasingly likely so as to avoid investigation, publicity and criticism.

They know full well that a tender offer at a fair price will deliver certainly 75% of shares in public ownership, then Section 103 of the Companies Act permits them to buy in the balance.

A FAIR PRICE?
# 10% discount to NAV = £107……a 106% gain from £52
# 12.5% discount to NAV = £104……a 100% gain from £52
# 15% discount to NAV = £101……a 94% gain from £52

DJAN has been a value trap for years and years; however If people quite reasonably begin to think a buy-out is a possibility, then the sp will begin to close the alarming discount to the £119 NAV.

I think it will happen; and will likely happen this year. There being no point in waiting any longer.

Links not working in the above original post.

These are working:

https://www.thejc.com/news/uk-news/fres ... s-1.483616

https://www.thisismoney.co.uk/money/mar ... women.html

SKYSHIP wrote:Links not working in the above original post.

Both sets work for me but they should, as they are identical, as did your originals when I looked on Saturday!

As you can see, using URL to surround (which I prefer):

From #284573 https://www.thisismoney.co.uk/money/markets/article-7095981/Inside-secret-Daejan-Holdings-boardroom-thats-firmly-CLOSED-women.html

From #284869 https://www.thisismoney.co.uk/money/markets/article-7095981/Inside-secret-Daejan-Holdings-boardroom-thats-firmly-CLOSED-women.html

Perhaps a temporary glitch when you looked.

Did you find anything of interest post June 2019?

Edit: I thought I'd take a quick look at ADVFN but see you've already been there:

https://uk.advfn.com/stock-market/london/daejan-DJAN/share-chat

Both are surely not identical!

The first is from The Jewish Chronicle; the second from the Daily Mail.

Here again is that first one:

https://www.thejc.com/news/uk-news/fres ... s-1.483616

Yes, ADVFN is naturally my normal stamping ground; and no, haven't found any follow up to the story. But I suspect it will be coming...

The links are not what is important, although they work for me. It is the possibility of a buy in of the publicly held shares at something much closer to NAV than they are currently quoted at. I held Daejan for a long time on the basis of the huge discount to NAV but sold since nothing was happening. They have a good property portfolio and the company appears to be well run but I just wonder why they maintain the public quote? Maybe now if they are getting agro they might decide to take it private.

Could be time to buy again.

Dod

SKYSHIP wrote:Both are surely not identical! ...

Not both but both sets. I could access both articles when you first posted and both now. That was all.

Hopefully someone out there followed me into DJAN after I posted last week.

The bid duly arrived this morning. OK, only at a 50% premium, but still extremely happy with that as I recently upped to a full allocation holding.

https://uk.advfn.com/stock-market/londo ... c/81812621

SKYSHIP wrote:Hopefully someone out there followed me into DJAN after I posted last week.

The bid duly arrived this morning. OK, only at a 50% premium, but still extremely happy with that as I recently upped to a full allocation holding.

https://uk.advfn.com/stock-market/londo ... c/81812621

Well done SKYSHIP. Your timing was immaculate. Sadly I did not have the funds to buy any meaningful amount so did not buy any.

Dod

Dod - thnx, but sorry you weren't in. There will always be other opportunities, so good luck...

Well done, Skyship. Brilliant timing.

Keep the ideas coming.

SKYSHIP wrote:Hopefully someone out there followed me into DJAN after I posted last week.
The bid duly arrived this morning. OK, only at a 50% premium, but still extremely happy with that as I recently upped to a full allocation holding.
https://uk.advfn.com/stock-market/londo ... c/81812621

I'd added to my watchlist but thought there'd be plenty of time to decide, so it was 'bitter-sweet' to see today's amazing uplift.

In line with DJAN's share price, your credibility for good ideas has rocketed 'sky high', though!

dlp6666 wrote:I'd added to my watchlist but thought there'd be plenty of time to decide, so it was 'bitter-sweet' to see today's amazing uplift.

Me too. I was going to review in greater detail next week!

If the Freshwater family were upset at the governance issues they must be spitting blood now. They made their offer to buy out the minorities on 21 February, timed to perfection for the protection of the minority holders. This must be the share of the month. They are now presumably examining their offer wording to see if there is a get out clause. Clearly the market thinks the bid is watertight since the share are still quoted at the £80 bid price.

Dod