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Nilssss DEG
17.01.2024 7:20
Let me explain what ii was all about today. I am a former bond arranger. Dovalue wants to early refinance 300 million of bonds that mature in July 2025. That is not allowed without Gaap approved Q3 results. So Dovalue was forced to create this ias34 compliant report. Since that report was only approved yesterday, Dovalue had to disclose all kind of information that happened between September 30 and yesterday. Nothing special happened in between although the book value loss looks like a big thing. It wasn't, given that we already knew that Spain is much smaller now. The most important good news is that basically everything in Q4 went as planned. Also good news is an expected settlement payment of 22 million within two weeks. Bad news for shareholders, in the short term, is that the dividend must be reduced to a maximum of 8% of the market cap. This comes from a bond covenant. That implies a dividend of circa 20 cents at most. But for the longtime shareholder this was good news
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