DBF 3.09% $1.41 duxton farms ltd

So it appears that DWS or Deutsche Bank have completely sold out...

  1. 891 Posts.
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    So it appears that DWS or Deutsche Bank have completely sold out of DBF, the 7,015,628 sold on 5th of this month
    was what was left of The global agricultural land and opportunity fund(GALOF) holdings, this preceeded Duxton broadacre,
    before it was recapitalised and listed as DBF, from my understanding this holding goes back to 2007.

    It appears that they did actually sell them for 90c a share or around 30% of underlying NTA, and around 70c less than
    what they were trading at recently on the ASX,

    2,104,688 were bought by UBS and Brispot nominees, these were then onsold yesterday for $1.10 a share in one tranche
    making brispot over $400,000 for a days holding
    2,910,914 were bought by JP Morgan and Ecapital Nominees for 90c a share, Ecapital appears to be a private company
    based in southbank in Melbourne, but could be wrong on this

    The remaining 2,000,026 share are still to be disclosed but will be under the 5% disclosure limit so we wont know their
    whereabouts at present

    So my question is why would Deutsche bank dispose of these shares so cheaply and it appears at short notice, surely
    they could have found a home for them at closer to what they were trading at on market. We have a buyback running
    at present that can still buyback over 4,000,000 shares, and we have the liquid funds to do that and if push came to shove
    I am sure we could have bought back the entire parcel at much better prices for DWS than 90c a share.

    DBF was born out of GALOF, from memory Ed was head of Deutsche asset managament asia pacific before forming
    Duxton with Desmond Sheehy, Stephen Duerden was also with Deutsche Bank as director of complex assets investment
    team.
    So you would think that if DWS wanted out of DBF they would have approached either or their high ranking ex Deutsche
    managers now running DBF, well I would have thought that they would before putting their entire 17% holding up for
    a fire sale so to speak, this makes no sense to me at all....I can only think of a TAYTAY song...bad blood
    I dunno, i can only think of that or maybe they did let DBF know they wanted to sell but we didn't want to buy them

    There are games a plenty on the market as well, I have been trying to buy more since this news but depth is BS, I have
    put in orders but as soon as I place them a buyer comes over the top within seconds, I also did pick up a small parcel
    today and as soon as I placed it at 1.36 all the sell orders at 1.365 1.37 1.375 etc up to 1.41 disappeared instantly, the
    bots are working overtime for a reason
    I have learnt a few more things using the google time machine over the last few days trying to make sense of what has
    happened, going over past substantial holding changes and the like, it seems there is and accountant in Adelaide that
    everyone knows well, just another thing that makes you go ummm

    cheers grant


 
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