Member Info for P3T3R

DX, the leading independent parcels, mail and logistics network operator, is pleased to announce that, at the Company's General Meeting held earlier today, the proposed resolution to effect a capital reduction was passed. The Company will now proceed with filing the final Court submission, with confirmation and registration expected by the end of April 2016. A further announcement containing full details of record, ex-dividend and payment dates for the interim dividend will be made shortly thereafter. http://www.investegate.co.uk/dx--group--plc--dx--/rns/result-of-meeting/201603241116281983T/

That's all very nice, but has nothing in common with our situation. Our capital reduction is due to writing off £88m of goodwill leaving the company with no distributable reserves ... without which the company cannot pay any dividends ... no distributable reserves, no dividend ... Read the circular ... "As announced today in connection with the publication of the Company’s consolidated interim results for the six months ended 31 December 2015, and against the backdrop of challenging industry conditions and the decline in profit, the Company has conducted an impairment review of this goodwill. On completion of this review, the carrying value of goodwill has been revised to £100 million and, accordingly, a goodwill impairment of approximately £88.4 million has been recognised in the interim accounts. Following the above revision to the carrying value, the Company’s distributable reserves will be in deficit to the amount of approximately £100.3 million. The Company is not permitted to pay any dividends unless it has distributable reserves"

If your holdings are in a nominee account, then the "NOMINEE" is on the share register. not yourself. If you want to vote, you need to ask your stockbroker for a LETTER OF REPRESENTATION, which will allow you to go to the meeting and vote . Give them details of meeting, date, venue, time etc etc ... Some stockbrokers charge for a letter of representation, but vast majority do not ...

http://blogs.news.sky.com/kleinman/Post:056d60da-ac96-42b4-9a64-5457d2bffe36

18mths ago, the shares were circa 30-40p, so I would say that i huge amount of value has been added in the interim period. Hopefully this next tranche of finance will be used just as wisely to add another 350-400% to the share price. Let us all keep our fingers crossed for another contender entertainment. We can hope, but IMHO slightly doubtful.

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Obviously you are a long term holder Ged. You seem a bit lonely on this board so I would recommend the ADVFN board which is fairly active with lots of good debate/discussion. On the whole lots of long term holders but, must be said, couple of prats as well who you can filter if you so wish. All the best, and good luck ...