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Yes, sure... I was not particularly trying to reply to you, just pointing out some greedy DX major shareholders can't wait to sell

So the scrip dividend was better than cash because we wouldn't be taxed this 20%?

Back =buck, just in case it isn't clear

Kino situation seems very different to me... The board was against the possible offer and access to due diligence was denied.... In common with DX seems to e both are possible under-offers. But our DX largest holders quoted in past posts seem very keen to make a quick back

My guess is this extension might be well be presented as further time needed by HIG for its due diligence (to adhere to protocol) but in reality to do with HIG either trying to find funds/backers or unable yet to organize their own structure in which to fit DX... The 48.5 is undisputed so far and HIG would not have gone into the extension if changed its mind about that

"If DX declares, makes or pays any dividend or distribution or other return of value or payment to its shareholders, H.I.G. reserves the right to make an equivalent reduction to the Possible Offer."

Any buyer buying any company would have that clause or something like that, to safeguard that in the time between the possible and the mandatory offer the company does not transfer capital/funds to shareholders. But what company board would be so foolish to abolish their dividend plans on a clause from a possible buyer who might not buy anyway? I would have accepted it as reasonable if it was to meet a mandatory offer but never a possible offer. Therefore for me the statement is saying HIG would reduce their possible offer to cover the dividend, so the mandatory offer would be 48.5 minus 1p dividend... Any variations from that would be based on other issues (("other return of value or payment to its shareholders")) and have nothing to do with the dividend

It looks like the worse is still to come....

Ports.

your "I full expect it to be reduced in light of the dividend announcement.".... I find that intriguing... it seems you are assuming that either HIG did not know about the dividend or of DX's dividend plans or that they expected DX to drop their dvd plans in the light of their offer. My opinion diverges from all that. HIG were fully informed/knowing about DX's dividend plans prior their intentional offer, and that DX would not withdraw the dvd just to please a potential buyer who is not obliged to buy and might not buy at all... Therefore I would find it unlikely HIG would decide on a reduction of their offer based solely on DX's dividend announcement. Besides the dividend is ridiculously low to stand in the way of a serious buyer

That was/is my exit point

My view dx should not sell for less than 66p... we get that after Xmas. I vote against

I suspect HIG has already at hand all the due diligence needed, as I believe the all sorts of talks have been going on for some time well before their optional proposal. I am pondering now the reason has not been formal proposal as yet, as HIG might be waiting to play with the oncoming results: If results are great they will stick to the original offer: 2) if they're not so great they will lower their offer

I'm selling half of my lot and buy lottery tickets

Well, Ojay, by the look of it the plan is not running according to the plan...

Have I missed something as usual?... Shouldn't we all be millionaires already?... It looked so easy and now it's got as bad as trying to win the lottery

Anyone got a view on why the sp behaves like this? Going down one day and up the next?,,, It seems there are no changes, so why doesn't it consolidate at a certain level and stays there and only move up or down if/when a company change occurs?

Trades are being done - Deep... there must be some other reason for not allowing you

Yes, Ports, I do agree with you. With HIG Is all about details now and I do feel very confident their offer will go ahead. They would have already sorted out the basic essentials they are after by now - likely even from BEFORE their DD started... HIG's proposed sp offer likely was meant to stave off competition... so it very much depends now about whether and if the competition is still sniffing around for their offer price to vary up or down

Ports,

being in the middle of carrying their due diligence wouldn't HIG know or anyway have a good idea about results before they're published?... I am not saying DX would provide them - but being in there and pottering around DX and chatting to this director and that manager while all the time stroking the company cat surely HIG would know much more the result than we'll ever do do prior to publishing

Badprophet,

are you serious about matd not surviving?... which other form would it take?

Negotiations go on all the time between parties willing to do so. There are informal and formal negotiations. But they go on all the time!... Formal negotiations seems to me obliges parties to inform their shareholders. But of course to get to formal state they have to go through the informal stage which we small pis don't and might never know of... All major shareholders negotiate INDIVIDUALLY according to their own interests and they have no obligation to inform anybody, not even the board. They will do so if and when it's convenient to them to. Gatemore might have had their own negotiations with HIG. So might have Dunn and others - well before the board itself ie DX started their informal negotiations with HIG and then reached a formal agreement which they made public... But they might have had informal negotiations (i feel sure they had/have) with several other potential buyers ...