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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- Why would DWS or Duetsche Bank give away $4million
So it appears that DWS or Deutsche Bank have completely sold out...
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Open | High | Low | Value | Volume |
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Price($) | Vol. | No. |
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