RE: DX12 Jan 2022 15:20
ojogger, I am not an employee of Gatemore. I am the Co Secretary for our tiny company in Mid Wales. I note that the company has failed to deliver its accounts and faces a technical suspension. In my experience, this is very bad for shareholders indeed and the longer that this goes on the greater the penalty that shareholders tend to suffer.
The last time that this happenned to me was in the matter of a company called Graphene Nanochem. The shares were re-listed for a couple of days (and I took opportunity to sell for a 90% loss) before being suspended again. The company was eventually de-listed. I filed complaint with FCA as the multiple RNS statements issued to detail an order here or there, approval of contract for good measure, new deployment in new field as a revenue arm, partnerships and agreements left right and centre in previous years did not generate a single penny by way of turnover and I concluded were totally bogus. What a surprise when the company managers were based in Malaysia that they simply failed to reply to correspondence and the Nomad eventually deserted them. Complaint was also made of the behaviour of the Nomad.
And, although this should not be as ghastly a scenario, my hunch is that as DX have lost small accounts such as mine, others to my certain knowledge for similar reason (stock evaporation (theft), failure to deliver within time scale, never returning goods that were purportedly not delivered, breakdown in the IT side, failing to integrate orders placed electronically with collection etc), I reckon that the figures are likely to be terrible. Either the Managers are looking to disguise things or wish to put as much as they can into the bad news, award themselves a tidy foundation for options (based on the eventual price that the MK falls to) and leech investors for cash to expand.
Of course, I am sceptical, but as the company is a very different beast from its original guise (serving solicitors with paperwork that required ink signatures) to parcels and freight courier, it is ill equipped and floundering.
I hope I am wrong, but it is my reading of the tea leaves and having never owned shares in this outfit, nor for that matter ever sold short, it is not one managed by persons that I trust or find trustworthy. Bon chance.