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DKN 79.5¢

Deakin Cashed up and turned the corner

  1. general

    111 Posts.

    Following the expiry of DKNO the company has come through the last 18 months of regrouping to be very well cashed up with around 20 m out of the 28 million dkno exercised at 20c by existing option holders (A strong vote of confidence in the board)and the balance of 9 million taken up by the underwriters .

    This was all done at 20c per option putting nearly $6 million in cash in the bank on top of the cash in the balance sheet of around 1.5 million that was expressed in the half year results.

    With Financial services a definate growth sector in coming years with the ageing population looking to get advice on saving and maximizing income in retirement Deakin should come under the microscope of the product suppliers who make money out of advisers sellling thir products.

    This is evident with Permanent trustees announcing a significant shareholder notice as recent as last week.

    I hold dkn shares and look forward to seeing if the company has continued its growth in revenue and profit turnaround in the second half of the financial year.

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