So would I - but I would only invest in the latter two if I was forced at gunpoint.
Nita
quote Did they sell a big asset or something?
Yes they did, at the end last year they sold the building and leased back the floor(s) that has their head office in. Sold it for just over $30 Million from memory..slightly above book value. This is the reason why DPC has such a high NTA/share compared with other finance companies.
That $30M alone accounts for NTA/s = 30M/36.098M* = 83 cents/share
Not sure Steve....finance companies as you know are complex beasts and very hard to find accurate data.
Unless someone in the know can tell us, I guess we will have to wait until the end of May for the Full Year Result. I think the NTA was about $1.65/share at the last count wasn't it ?
DB details has it as $1.67
Using Total equity from the half year report it works out at $1.78. How much of this is realisable is anyones guess.
The NTA figure at full year result (end of May) will give us the amount of burn if any.
Agree with you that no one is sure of NTA. Just looked at Dorchester Finances Prospectus and in the last six months the current management lent over 70% of their capital to one party. This is astonishing in a time when the CEO says they are preserving cash. Assuming that this is a property loan I hope its not that big property development in Queenstown that some of the other finance companies are struggling with.
On the big seller a couple of weeks ago, rumour is that it was not Viking but ACC. Rumour is also that Viking have not been selling much in the last couple of months. Anyone know if that is true??
ACC only has a small amount in DPC.
Yes Nina-I understand that-was just responding to a question re the repayment of the $20m.
If the assets of the coy are worth the stated values it may be in the best interests of shareholders to liquidate the coy.