Donegal Creameries (DCP:ID)

Comordha · 25-06-2014 09:23AM

Investec have initiated coverage with a price target of €8.95, not sure if there is a research report though.

wired117 · 25-06-2014 09:33AM

Good spot Comordha

Gman1987 · 25-06-2014 09:52PM

Hit 6.50 at one point today with larger than normal volumes traded, seams like its starting a take a bit of momentum again! Anyone attend the Agrifood sector investment forum in the Conrad Hotel the other week as I believe Donegal investment group were in attendance ?

tommylimerick · 26-06-2014 08:47AM

now 6.80
I bought some at 4.73 and again at 6.28 so now pretty hevily invested here
thanks to wexboy ,

wired117 · 26-06-2014 09:33AM

Looks promising.. all things considered it is still very much undervalued..anyone going to AGM?

Comordha · 26-06-2014 09:43AM

All hail wexboy on this one. Still though I wouldn't read too much into it as volume still quite low and the bid/asl spread is still very high, someone trying to sell this morning at 6.30 for exmaple. Another institutional investor would be nice. Also some more land sales. DCP is slowly getting realized.

wired117 · 26-06-2014 09:33PM

Was trying to find out when court case is on..found reference to 27 may

Gman1987 · 02-07-2014 08:33PM

Anyone at the AGM today?

http://www.investegate.co.uk/donegal-investment--irsh-/rns/agm-announcement---results-of-meeting/201407021540402632L/

wired117 · 03-07-2014 02:32PM

Nay Ger, update fairly bland but positive all the same.

wired117 · 03-07-2014 02:32PM

Nay Ger, update fairly bland but positive all the same.

wired117 · 15-07-2014 11:07AM

Positive read through today for animal feeds division on broker reports on rte

Gman1987 · 22-07-2014 10:11PM

Five year graph looks not too bad, pity we have not experienced another rally yet, I wounder will the dividend next month help to move it up a bit. On another note, summer has been pretty good so far so It should help potato yields and in turn their seed business. I guess we'll find out on August 28th with their Interim Results out;)

Comordha · 23-07-2014 09:45AM

MAin thing is the €6 handle has held up well. A lack of news can always drive these shares down in the short term but we'll only know more closer to 28th. Not too many peers to compare against either. Anyone know when that court case with Monaghan Mushrooms might conclude or even what the case is about?

wired117 · 29-07-2014 01:52PM

I have asked DIG for details..but radio silence for nearly 2 months.. on court case it looks like dig thave no input in running mushroom business and previous commitments to buy them out were rowed back on...only tuppence worth of info as difficult to come by..Any thoughts on their stevedoring asset.?...hope they sell it off as doesnt fit in with company structure...also I hope they can engineer a reverse takeover of MM or threaten it to receive bumper pay out for their shareholding....sp ticking along

CashMoney · 30-07-2014 06:56PM

Excuse my ignorance on these things, but how would a reverse takeover play out in this scenario?

wired117 · 06-08-2014 01:53PM

http://www.donegaligroup.com/news/notifiable-interest/

wired117 · 06-08-2014 04:19PM

I was using this to indicate where a smaller company could take over a larger company by revenue. DIG could possibly do this as it will have no debt in coming years, MM will still have a lot of debt. If MM was forced to give DIG a fair price for their stake it is possible they couldn't afford it and this could offer an opportunity for increased stake in lieu of dividend. Then possibilty to buy the lot. All a possibility outcome of court case will tell a lot.

Comordha · 06-08-2014 05:43PM

I think you should be focusing on the potato seed business more than the Mushrooms as this is meant to be the core / high margin part of the business so it is this that needs to drive revenue / profit growth. Semi-Annual due out at end of month, we might get an update on this part of business.

wired117 · 06-08-2014 06:06PM

Ultimately hope they get a good price for their stake. Argos upped their stake again.

MoneyCrowd · 29-08-2014 02:46PM

Interim results are out.

"Outlook

The key determinant of performance in the second half and for the year overall will be the result from the Produce Division. The Board currently expects full year adjusted earnings per share to be around 53 cents per share (2013 50.4 cent per share). "

wired117 · 12-10-2014 12:53AM

Director purchases and Ian Ireland also, good news coming or just vote of confidence?!

wired117 · 12-10-2014 12:53AM

Director purchases and Ian Ireland also, good news coming or just vote of confidence?!

wired117 · 12-10-2014 12:55AM

Director purchases and Ian Ireland also, good news coming or just vote of confidence?!

lucky john · 29-10-2014 09:50AM

DIG v MM in courts on going at the moment. Can't see anything about it in the papers but monaghan bosses were in the dock last Thursday and Friday.

Gman1987 · 04-11-2014 12:09AM

Is their word out on the Court Case or what? Share price took a sizeable fall today on relatively small volume, I wounder whats behind this? I would imagine this year should be an excellent year for spud yields which should help provide strong growth for this company, am I missing something?

wired117 · 13-11-2014 12:24PM

Still see nothing about court case

MoneyCrowd · 13-11-2014 01:12PM

From courts.ie

FOR THURSDAY 22ND MAY
2014 03558 P DANBYWISKE & ANOR V DONEGAL INVESTMENT GROUP PLC (Directions Motion)

FOR TUESDAY 9TH DECEMBER
2014 03558 P DANBYWISKE & ANOR V DONEGAL INVESTMENT GROUP PLC (FH) (6d)

So ongoing.

Interestingly, I found this case which may explain why MMM management were in court in October.
FOR THURSDAY 9TH OCTOBER
2013 00591 COS ELST LTD & COMPANIES ACTS (Valuation Issue) (To Resume Hearing - 10 days) (McGovern, J)

wired117 · 20-11-2014 07:30PM

Ian Ireland purchasing more shares, no idea what to read into this

lucky john · 23-11-2014 01:09AM

wired117 wrote: »

Ian Ireland purchasing more shares, no idea what to read into this

Maybe the court case is going very well for DIG.

wired117 · 06-12-2014 01:47AM

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SHARE PRICE 15 MINUTES AGO
€5.65 -0.159
€50.99 +0.58
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Release to Stock Exchange

Donegal Investment Group plc ("DIG" or the "Company")

5 December 2014

As previously advised in our 2013 year-end results announcement on 10 April 2014 and our AGM Announcement of 2 July 2014, the Company has taken a shareholder oppression claim relating to its holding in Elst (the holding company of the Monaghan Middlebrook Mushrooms business).

While this matter is ongoing before the Irish Courts, the Commercial Court gave judgment today in an individual module of the case, being the price at which the respondents (being the majority shareholders in Elst) might purchase the Company’s interest in Elst. The Court determined this price to be €30.6m. This price is based on a shareholding of 35% in Elst. The judgment is not an order to sell or buy the Company’s interest in Elst.

Certain of the respondents in the oppression claim have taken a separate case against the Company over an alleged option they claim to hold, which claim, if successful, would reduce the Company’s shareholding in Elst from 35% to 30%. This matter is currently before the Irish Courts.

The Company is currently considering today’s judgement by the Commercial Court and all options available to it and will provide a further update at the appropriate time.

END

Enquiries:

Donegal Investment Group

Ian Ireland, Managing Director

Telephone: + 353 74 912 1766

Investec Bank plc ﴾Irish Branch﴿

Jonathan Simmons, Director

Telephone: + 353 1 421 0351

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Donegal Creameries (DCP:ID)

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