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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.
Kimberly-Clark Health Care’s Integuseal Microbial Sealant wins medical design excellence award Kimberly-Clark Health Care announced that its InteguSeal Microbial Sealant has received a 2008 Medical Design Excellence Award. InteguSeal is a first-in-class microbial barrier designed to reduce the risk of skin flora contamination throughout a surgical procedure. InteguSeal was recognized at the gold level in its category for surgical equipment, instruments, and supplies at the Manufacturers Design Excellence Awards banquet. InteguSeal uses a proprietary formulation to seal and immobilize pathogens to help protect against migration into an incision. The innovative sealant has been used in more than 150,000 applications during surgical procedures internationally. The Medical Design Excellence Awards competition is organized and presented by Canon Communications LLC (Los Angeles) and is the only awards program that exclusively recognizes contributions and advances in the design of medical products. Entries are evaluated on the basis of their design and engineering features, including innovative use of materials, user-related functions that improve health care delivery and change traditional medical attitudes or practices, features that provide enhanced benefits to the patient and the ability of the product development team to overcome design and engineering challenges so the product meets its clinical objectives.
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 ...