reader61
01 Feb 2018
Re: Response from email to investor rela... [email protected]
reader61
01 Feb 2018
Re: Response from email to investor rela... Hi Hardboy, sure, I searched the website using their query box which was in the top right have corner. The search query was " investor relations" and it returned a selection of contacts. The enquires are not handled by the company themselves but by a third party company, the contacts name was Richard who was very responsive. Hope that helps, if I can find it, I'll post the mail address for you. Regards
Hardboy
31 Jan 2018
Re: Response from email to investor relation... Reader, thanks for posting that. May I ask how you sent it and to whom? I sent my message via an email link on the company website. In the contact us section there was an option for shareholder queries which would go to the Company Secretary. That is how I sent mine. I have had no acknowledgement. That & my ii problems I'm beginning to feel victimised!
Hardboy
31 Jan 2018
Re: II Excuse my rant earlier - something very strange has happened which is probably not universal. I have several different portfolios set up on my portfolio pages (ISA, Trading Account, ex holdings, watch list etc.) At this moment in time my ISA Portfolio is frozen in time - with no trades recorded since 10:45 this morning. If I access other tabs from there - news, discussion, charts etc. they all work fine; and if I go to another portfolio and look at the same share - the information is up to date. Weird!
onewayticket
31 Jan 2018
Re: Response from email to investor rela... Thanks for posting this reader 61.Whatever they are saying in those meetings is clearly not working as more and more seem to be bailing or selling this short, incredibly so.I have to say I think its the worst bit of company PR that I have ever witnessed. I said becoming more economic could have been sold better and should have been trialled in stages. Tweaking the website didn't even need a mention and lastly to warn of profits being significantly under 2017 levels and in the same breath saying you don't know how it will pan out is at best amateur. I think a few institutions have simply lost all confidence in them and are bailing.I can think of no other logical conclusion for this. Will they force a few out the door. Own due diligence.
reader61
31 Jan 2018
Re: Response from email to investor relation... Additionally:--The reduced level of profitability for 2018 now in the market still gives a very large amount of headroom on debt covenants. Even if the funeral business made no profit at all (not envisaged!) the crematorium operations could more than service the debt and interest payments
reader61
31 Jan 2018
Response from email to investor relations Prompt reply from the agency handling as follows:-Your comments are noted and I have made the Company aware of your observations. In an attempt to explain the background to and handling of the Company’s announcement on 19 January I set out a number of points below:On the morning of 19 January 2018 we held an investor call at 8.30am so that shareholders and analysts could ask management questions. The recording of that call is still available via the Company’s website. Dignity set out the new pricing initiatives in its announcement of 19 January and also gave an indication of the potential level of switching from the “traditional” funeral to the “simple” funeral. We stated that simple funerals represented 7% of total funerals in 2017 and we gave an indication that simple funerals may represent 20% of total funerals in 2018. This was an estimate and that the actual outcome would only become clear during the year. The fact is that until the Company has seen the reaction to the new pricing strategy the Board cannot give precise guidance. Given that the new pricing strategy will have an immediate effect on Group revenue it had to be communicated by way of RNS immediately the Board took the decision to implement the changes at its Board meeting on 18 January. We undertook to provide “an initial update” at the interims in August because that is genuinely the earliest that the Board would expect to be able draw meaningful conclusions from initiatives introduced in late January.You ask what we are doing to arrest the fall in the share price. I don’t know whether you are aware of analysts’ expectations for Dignity in 2018 following the announcement of 19 January. In case you do not have the information, I am aware that the Company’s joint brokers have reduced 2018 expectations by about 12% at the revenue level and some 52% at the profit before tax level to £297m and £41.2m respectively which translates to a reduction in EPS expectations from about 135p to 65p. One of their brokers moved to a price target of 1275p following the announcement. Since 19 January the senior management team of Dignity have been meeting and speaking with existing shareholders and potential new shareholders every day to answer their queries and to discuss the new pricing strategy.I hope the above information is helpful and gives you an insight to the communications around the announcement on 19 January.
Hardboy
31 Jan 2018
II What is wrong with their systems NOW?????They do not seem to be registering any trades since 10:45 this morning, which means all the prices are wrong!DOHHHHHH!
CASTLEFORD TIGER
31 Jan 2018
Right Issue Gets more difficult the longer they leave it.Tiger
Hardboy
31 Jan 2018
Re: Email to Investor Relations Reader, "sent the below to them"Well done. We need to let the Directors know how we feel. As I said I wrote to ask why we should not expect to hear anything until 7 months into the new pricing strategy about how it is working. No reply yet - one and a half days after sending it. We can measure how directors value shareholders by the speed and depth of the responses.
gamesinvestor
31 Jan 2018
Re: Another Holdings RNS ""Remember than the 1.5 times interest cover required is based on EBITDA earnings not on net profit.""TX2 - I know where you are coming from m8, and the letter or terms of the covenant are possibly written accordingly. but sadly it wouldn't be enough for me.You see, I've never seen a company, that makes any kind of profit, not pay tax, or get away without paying the interest on it's loans.In addition there is no way that depreciation has not got to be dealt with, with all those funeral parlours needing refurbishment and all the cars replacing etc.Similarly amortisation must be accounted for.Games
Dorada Holdings
31 Jan 2018
Too clever by half The problem with Dignity is that they have largely dug their own grave....they were in the vanguard in terms of the outrageous and completely unjustified increase in funeral costs over recent years and spun the yarn of their stable and predictable business modelAlong the way they leveraged relentlessly then re-leveraged their asset lite balance sheet to the point where the bond debt is now 130% of their market value - an implacable a presence as death itself. Whether they breach their covenants is not the issue - they have too much debt Even the basic funeral cost is expensive compared to, for example, the direct cremation plans offered where one can organise the same for £1195 or thereabouts. Who needs funereal pomp these days? In any case and with so many excellent companies around it is not apparent why one might want Dignity
Dorada Holdings
31 Jan 2018
Too clever by half The problem with Dignity is that they have largely dug their own grave....they were in the vanguard in terms of the outrageous and completely unjustified increase in funeral costs over recent years and spun the yarn of their stable and predictable business modelAlong the way they leveraged relentlessly then re-leveraged their asset lite balance sheet to the point where the bond debt is now 130% of their market value - an implacable a presence as death itself. Whether they breach their covenants is not the issue - they have too much debt Even the basic funeral cost is expensive compared to, for example, the direct cremation plans offered where one can organise the same for £1195 or thereabouts. Who needs funereal pomp these days? In any case and with so many excellent companies around it is not apparent why one might want Dignity
TX2
31 Jan 2018
Re: Another Holdings RNS Whilst Games I agree with your thoughts re share valuation I think the chance of a covenant breach is very remote.Remember than the 1.5 times interest cover required is based on EBITDA earnings not on net profit.In other words it is earnings before deductions of interest,taxation,depreciation.I think an EBITDA earnings of only around £40m per annum would be required to cover the covenant which is little more than an amount that covers present interest & the depreciation charge.
reader61
31 Jan 2018
Email to Investor Relations For what good it'll do, sent the below to them. Just want them to start handling the market as they are paid so much at director level. Ironically they use a 3rd party company to handle relations - should cut their fee for a start!!********** ********** ********** ********** ********** ********** ********** What are you doing to arrest the 70% fall in the share price? The share bulletin boards are awash with how the company mishandled it's announcement regarding 2018 guidance and how the directors are taking more in re-numeration than is paid out in dividends. This is scandalous, you need to start communicating properly with shareholders to explain yourselves and remedy the problem.
