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Well spotted! BDO were only reappointed as auditors at the AGM in October, so the reason for their resignation is unlikely to be a falling out. It may simply be that a conflict of interest has arisen which necessitates BDO choosing between CRU and some other company.

The directors will need to appoint someone else pdq, and inform the market via RNS.

100k at 17.9p is also interesting. Could be an error, I suppose.

Even with Liad Meidar on board, the company have given no further details of the underlying problem - which seems to indicate that the company did, despite his harsh criticism of the company's RNSs, tell us all they reasonably could about the governance issue at the outset after all.

All the company have said since then is that they are making “steady” progress on the issue, which I took to mean its resolution won’t be just a few days away, but it that WILL happen, my guess would be within a month or so.

If the delay was, as seems likely, largely the fault of the auditors, it obviously wouldn’t be politic to say this in public, so management must just quietly soak up what amounts to unfair criticism.

I’m not too bothered about the suspension: I have no urgency to buy or sell, though some PIs may well need to do so for personal reasons.

It’ll all be quickly forgotten once we are back on AIM - and we get a decent trading update, which is what matters most in the short term.

Bella - potential application to other diseases/viruses in the future is a valid point, but in the RNS they were specifically referring to COVID-19 testing.

'We believe COVID-19 testing remains a long-term commercial opportunity'. They are entitled to their opinion, but it is just that, an opinion, or a hope more like it, nothing more. The problem is, there may not, and ought not, be any long-term need for testing.

"The pregnant silence regarding corporate governance issues continues to disappoint." (ports)

That's putting it mildly!

If we don't hear anything before Xmas, I'll be writing to Mr Meidar to demand my own seat on the board!

I agree it's not the same as March 2020 - it's much worse!

At least in March 2020, it was assumed that it would all be over by the summer!

Here we are 21 months later with a de facto lockdown, and no end in sight to the gloom and doom...

I agree ports. My point was, it will take some explaining if we don't hear anything (in which case the opportunity he took to force his appointment was spurious).

Gatemore’s letter in which they pushed for Liad Meidar to be appointed nominee director included the following:

“…we find it extraordinary that the Board failed to provide any further detail or clear explanation as to the nature of the internal investigation and inquiry or why these cannot be completed in time to avoid a suspension. It is our opinion that the nature of this announcement demonstrates a complete failure of the Board to act in accordance with its fiduciary duties and an absence of acceptable governance standards at DX”.

Now that the appointment has taken place, we can presumably expect a further RNS imminently?

Even without that, definitely undervalued. A tasty morsel for a US predator given half the chance.

But there is the small matter - or maybe not so small - of an AGM tomorrow. I assume that's what the market's been waiting for.

The interests of Gatemore and the BOD, both with large shareholdings, are automatically closely aligned, so it’s not surprising that they had a “constructive dialogue”.

However, I also think the BOD must have judged that there would have been shareholder support for the appointment anyway.

Let’s see if we now get improved communications from the company - including about what exactly is holding up the accounts - and if that brings about a significant rerating over the coming months.

In the meantime, the RNS confirms that "the Company is now entering an exciting new phase of development, focused on market share expansion and margin growth", which should overshadow the prospect of a merely temporary technical suspension.

ports - Schroders bought when the SP was around 33p from memory, so they won't be too happy at the moment.

But you're right, it was never RNS'd.

No need to hold up the accounts for something like this though - it happens all the time these days.

Meanwhile, it's gone very quiet, after last Friday's deadline. Lull before the storm?

Yes IAGLongterm, but no doubt booked before the latest u-turn on the travel rules. But it's true that many people will still book, either because they are so determined to get some winter sun that they don't think it through, or because they bury their heads in the sand. Each to his own...

IAGLongterm - but insurance presumably doesn't cover the trauma and inconvenience of being "imprisoned" abroad, and any consequential losses, when you urgently need to be back in the UK for all sorts of reasons (eg medical appointments).

The problem is the risk of a positive test, even a false positive, in Portugal. That would probably mean a miserable week or two of quarantine in Portugal. I personally wouldn't take the risk.

It's now 17.125p to buy. Haven't seen that for a long time.

DX are supposed to get back to Gatemore by COB tomorrow, so we might hear something tomorrow. Meanwhile…

From City AM: “Gatemore’s objection to DX’s governance comes hot on the heels of the news earlier this month [Nov] that it had bought a stake in DFS, and told its fund investors that the sofa chain was undervalued by public markets and thus ripe for a private equity bid”.

Gatemore letter to DX: “[we request a seat on the DX Board] in order to …seek ways to achieve full value for shareholders, including through exploring strategic alternatives”.

So could a sale of the company occur sooner than most of us expected?

I don't think Mansfield's turned Trak around at all.

I think it's because he HASN'T turned it around that he's off. Admittedly, he arrived at the same time as Covid, but Trak has lagged well behind other telematics companies since that time.

Meanwhile, he's taken a third of a million out of the company, and never used a bean of it to buy any shares.

We're better off now with someone with a decent track record and with whom JW obviously feels comfortable.

As you say, KBYK, the loss of Scottish Power will have already been taken into account in current year guidance.