Member Info for kennyruss

The third offer came from a google translation of the research note, where it discusses "any other offers"

I have also emailed JWH, will post up any response.

As informed in writing to MRC, the Offer was rejected because it did not provide an integral solution to restructure the Company's operational and financial condition and, since July 15, 2014, MRC has not been able to provide evidence of having sufficient funds available to finance the Offer in a timely manner. Furthermore, the Offer is not satisfactory to the senior lenders of the Company's ethanol business. Accordingly, the Company rejected the Offer and informed MRC about its decision. Has the current BOD offered a solution to the company's debt position?

Yeh, there is a lot of info o digest in the note... I have asked some more questions, will see what he comes back with.. Will try and find part about "other" offers..

Shake, one thing I did translate was the possibility of other offer?

done:)

I have had a communication from J W Hanks and now in possession of a research note published yesterday. I am assuming that is good for the Public Domain, but will get confirmation. if anyone fancies translating it all - mail me at kennyruss at sky.com for a copy

In the bigger picture toppy up time at 0.09 or 0.096 is irrelevant imho they are both excellent entry levels

Well he was very direct with the type of business he was going after, it's quoted in the various email exchanges and phone call summaries I have posted on advfn and copied over here.. You wouldn't have new director's approved by the NOMAD if the deal wasn't close imho..

Yes, agree - his silence brought a smile to my face..

i did have his permission to post... nothing he said was not in the public domain

just popped over from advfn to see all my emails plastered on lse lol

If you look in the finals from DEC 2010 the chairman states that from june 2010 until the RNS in DEC they were in profit. Interims are due in a few weeks, the website is pretty active, the various twitter accounts they run are pretty active - various new projects. mkt cap after today is only £1.5m and the director holds about 70% of the stock. They also have some tax losses to utilise. There is only 1.5m shares in issue...

Hi Guys, I run the ADVFN thread (Major shareholder in DXR) and I am accumulating % holdings for PI's - just to see where we stand.. please add your holding to my thread http://www.advfn.com/cmn/fbb/thread.php3?id=22075576 thanks kennyruss

new thread on advfn - bit more info hxxp://www.advfn.com/cmn/fbb/thread.php3?id=23435832

Hi seekerofprofit, previous board has long gone and the attempt to delist was defeated twice. plenty of chat on ADVFN..come across and contribute

Busier thread on advfn - lots of info - 2 major shareholders on board http://www.advfn.com/cmn/fbb/thread.php3?id=22075576

your welcome

Costs Nicholas Ward set out in his letter to you of 9 February the amount spent on professional fees during his reign as Chairman. These were £4.7m for the 19-month period of his appointment plus £0.7m of payments to interim managers, and a further £0.45m to Nicholas Ward himself. We consider these amounts to be extraordinary. Remuneration Following the AGM two further directors (in addition to the one mentioned above) were appointed to the Board. These directors act as interim managers to the Company on daily rates of E1,000 and £925. We consider the use of interim managers paid on daily rates inappropriate for DXR in its current form. In addition, there exists a bonus arrangement to further incentivise the directors on terms that have not been disclosed to shareholders. If appointed, we will each provide our services as directors for £12,000 per annum and dispense with interim management services wherever and whenever possible. There will be no discretionary bonus pool for directors. We will reduce payments for PR services, legal, tax and accounting advice and bring them to a level appropriate to the size of the Company. Who we are We have worked in turnaround investment since 2002 as directors of Volvere plc, which is listed on AIM (see www.volvere.co.uk). Under our stewardship Volvere's net assets per share have grown at a compound 20% per annum since its IPO and its share price has risen 300% (vs 11% AIM). We are also experienced venture capital investors. Nicholas Lander is a Chartered Accountant and an associate member of the Institute for Turnaround. We are both approved persons regulated by the FSA. We are focused on value creation and have a track record to prove it. What you should do now If you share our vision for the Company, please sign and date the enclosed, pre-completed, blue Form of Proxy to vote FOR resolutions 1, 2,3 and A (removing Nicholas Ward, appointing Jonathan Lander, appointing Nicholas Lander and approving the Company's Investing Policy respectively) and AGAINST resolutions B and C (cancelling the Company's AIM listing and re-registering the Company as a private limited company and adopting new articles of association respectively). Please sign, date and return the enclosed Form of Proxy to the Company's Registrars, Capita Registrars, PXS, 34 Beckenham Road, Beckenham, Kent BR3 4TU to arrive no later than 11a.m. on Tuesday, 2 March 2010. Even if you have already voted, you can still vote using this Proxy card. A stamped addressed envelope is enclosed for your use. Yours sincerely Jonathan Lander Nicholas Lander

LETTER FROM THE PROPOSED DIRECTORS SHAREHOLDERS OF DIRECTEX REALISATIONS PLC York House 74-82 Queen Victoria Street London EC4N 4SJ Tel: 020 7979 7575 22 February 2010 To Shareholders of Directex Realisations plc Dear Shareholder RE: Notice of Requisitioned General Meeting Introduction On 9 February 2010, Nicholas Ward, the current Chairman of Directex Realisations plc (“DXR” or the “Company”) wrote to you urging you to vote against his removal from the Board and against the appointment of us, Jonathan Lander and Nicholas Lander, as directors. The Company has also put forward certain other matters, including a proposed de-listing from AIM. The purpose of this letter is to assist you in deciding how you should vote at the forthcoming meeting on 4 March 2010. Please sign, date and return the enclosed Form of Proxy to the Company’s Registrars, Capita Registrars, PXS, 34 Beckenham Road, Beckenham, Kent BR3 4TU to arrive no later than 11 a.m. on Tuesday, 2 March 2010. De-listing of the Company’s shares from AIM and future strategy The current Board has recommended that the Company seeks a de-listing of its shares from AIM. We believe that: this may make it very difficult for you to sell your shares due to the lack of a regulated market; if the Company’s shares are not listed, shareholders will lose the protection of the AIM rules and may lose the associated corporate governance framework that applies to public listed companies on regulated markets; the availability of information for shareholders may be greatly reduced. If we are appointed we will seek to maximise shareholder value, whether by returning cash to shareholders, and/or a reverse takeover of the Company or otherwise. The most significant of the Company’s potential assets (the tax rebates) may not be available for five years or more, if at all. We believe that delisting the Company’s shares, in order to return up to 1.5p per share in the short term may preclude the availability of significant upside opportunities in that five year period. We believe that maintaining the Company’s listing need not be expensive and can be achieved at a significantly reduced cost compared to that incurred by the current Board during 2009. Corporate governance At the Company's recent Annual General Meeting ("AGM), shareholders voted against the re-appointment of two directors standing for re-election. Subsequently, one of those directors was re-appointed to the Board, in spite of the AGM shareholder vote to the contrary. We do not regard this as representing good corporate governance. Costs Nicholas Ward set out in his letter to you of 9 February the amount spent on professional fees during his reign as Chairman. These were £4.7m for the 19-month period of his appointment plus £0.7m of payments to interim managers, and a further £0.45m to Nicholas Ward himself. We con