[SCHEDULE 13D/A] Dole plc SEC Filing
Pale Fire Capital and affiliated entities report beneficial ownership of 8,588,077 ordinary shares of Dole plc, representing approximately 9.0% of 95,162,657 shares outstanding. The aggregate purchase price for these shares was approximately $98,167,516, inclusive of brokerage commissions, and PFC SICAV states the shares were acquired using working capital. The filing clarifies that PFC IS and Pale Fire Capital may be deemed to beneficially own the same shares by virtue of control relationships, and notes that recent transactions by the reporting persons are listed in an annexed exhibit.
- Material stake disclosed: Reporting persons beneficially own 8,588,077 shares (~9.0% of class).
- Transaction detail provided: Aggregate purchase price disclosed at approximately $98,167,516 including commissions.
- Source of funds disclosed: PFC SICAV reports purchases were made with working capital.
- Transparency on attribution: Filing explains how related entities and named individuals may be deemed to beneficially own the shares.
- None.
Insights
TL;DR: A 9.0% stake disclosed with purchase price details; impact depends on further intent or coordination, which is not stated.
The filing documents a sizeable passive economic position: 8,588,077 shares equating to ~9.0% of the outstanding ordinary shares and an aggregate purchase cost of ~$98.17 million including commissions. The report discloses source of funds for PFC SICAV as working capital and attributes beneficial ownership across related entities due to managerial and control relationships. Absent any expressed intention to seek board representation, a change of control, or coordinated action, this appears to be a disclosure of a material stake rather than an announced strategic plan. The exhibit reference indicates market transactions in the prior 60 days but does not summarize timing or prices here.
TL;DR: Controllers disclose shared beneficial ownership across affiliated entities; governance implications hinge on any future statements or actions not included here.
The statement clarifies that PFC IS and Pale Fire Capital may be deemed beneficial owners through control relationships and identifies two named individuals as control persons. This establishes transparency about potential coordinated voting power tied to the disclosed ~9.0% stake. The filing does not assert any admission of beneficial ownership beyond direct holdings and expressly disclaims ownership of securities not directly held. No proposals, nominations, or governance initiatives are described, so immediate governance changes are neither asserted nor evidenced in this filing.