Bought some DCI a couple of weeks ago at 7.25 – 4.7% portfolio weight. Picked up more today at 8p – now a 6.8% portfolio weight. They released an RNS in Mid November – basically selling property and paying down debt. I thought this significantly derisked the company. On Friday 2nd they announced an EGM – they are moving into liquidation mode.
They are a resort development company. They have just sold Playa Grande at 10% below Nav and paid down debt. They now have a debt to total assets ratio of 18.5%. Factsheet is here.