Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Yea, my view would that it’s probably a given for a new auditor to take two to three months and the AIM would know that. I think the AIM would probably have some concerns about the length of time it’s taken to appoint an auditor and the proberty of the directors bearing in mind what we know. Anyway we’ll find out tomorrow what they have decided.
It seems very strange to me Pianista. Surely DX through finncap would have been touch with the AIM throughout their negotiations with Littlejohn.To come to virtually the last second just seems odd.
It’s just simple research retirement. You still hold your shares but they can’t be traded on the AIM. You can only trade them on the OTC through a series of brokers. unless there are other strategies taking place and an offer is made for your shares.
This really beggars belief. We are within 24 hours of a forced delist and nothing from DX and presumably the AIM. I find it hard to believe this scenario is playing out like this.
Its been a long time since I posted on this board and I still have a fair few shares. Despite the good news/PR/Recruitment and general positivity regarding cloud it still isn't showing in substantial sales.Perhaps this isn't a jam tomorrow share but Jam in 2024. I'll stick around for the ride but I have no doubt if bird were domiciled in the USA it would be a different story.
Well it looks like we have a nervous weekend to look forward to and we’ll find out on Monday morning where we are heading. It seems like the negotiations with Finn cap and the Aim are going down to the very last minute of the last hour. It’s hard to believe it has come to this. No notification of the new depot openings which I think is indicative of a strategy change or delay.
That's putting it mildly Ports. These directors have presided over a 6 months share suspension, been accused of possible breaches of law, provided no clarity to shareholders with the threat of a forced delist hanging over them. Are they fit to run a company? I can't understand how anybody can trust them now.
That may be true but Dx's depot footprint in the UK and Ireland is hardly comprehensive so increasing that footprint is integral to substantial growth whether that be organically or through M&A so my view is that additional depots are important.. I made the point in the context that DX had signposted these openings by year end in next week or so and I wondered if Gatemore's expansion review will have had any effect.
I don't think the suspension price has any relevance at all. No-one could liquidate their investment. It will be where we open if we do trade again that counts and that will depend on demand, trading, any news Dx give us and sentiment.
It seems that DX's strategy at the moment is not to take the company private although that could change I suppose but like other people on here I don't see the point. DX are meant to be announcing the opening of a few new depots by the beginning of July. I wonder if we will get that. If not I think we can safely assume Gatemore have finished their review and stuck their oar in. !
Well, I have just got back from a long weekend to lots of chat posts to read and RNS from DX.
Atlast..I need a lie down.
It's something positive, so if all goes well we could be trading perhaps October.
Where's the SP going to be.... Historically DX has always buffeted by sentiment and affected more than other larger competitors. Dx share price did nothing in 2021 despite loads of good news and figures improvement. So is that going to change.
Where is sentiment likely to be in October.Everything is on a downward spiral so I don't expect much change in that so I think unless we get loads of goods news we could be somewhere in the early 20's. Although DX were 11% up in the first half of 22 I think the 2nd half to July 2022 would have have been much tougher. It's only a guess though... I could be way out.
I don't think Meidar has been doing nothing and I agree with Ports that the expansion and capital allocation review may have already started or even completed and we'll hear some fundamental announcements in the forthcoming months.
That's why I think there must be something going on behind the scenes. Surely the ii's have had enough influence to have forced DX do do what was required to satisfy GT or get a new auditor. They will be fully aware how a forced delist will negatively affect their investment value and I can't see how they would be happy to accept that risk unless there is an agreed way forward.
Yeah, I think that would be sensible. DX look to me that they they could be getting squeezed by the likes of EVRI, Fed -Ex and Wincanton one of my other interests that's doing pretty well. DX could be left behind if they aren't looking at M&A.
Portswigger. I think you are right to bring this up. There seems to be a perception that all we need to do is get an extension, auditor, trade on AIM again and all will be OK. It would put us more on a even keel but that has nothing to do with enhancing share holder value.
DX have, unless Meidar has interfered have very grand expansion plans and it's going to be tough to finance that within existing resources especially through this period of economic turbulence. I do think the expansion plans will be reined in a little regardless of whether we delist or not. A merger or some sort doesn't seem an unreasonable possibility.
I don't see what class action we could bring. There is no losses currently so on what grounds ?Class actions take years. The institutional investors are to some degree our safety blanket. This is not a company in financial trouble with no institutional shareholders that is heading into the abyss. It's part of the risk of investing, things will and do go wrong. The ii's will have been or should be looking into options to realise some value that is undoubtedly there if the delist is imminent.Not long to wait now.
That's a good point. I can't imagine Meidar/Gatemore could possibly have envisaged demanding a seat on the board and then having the public embarrassment of the company that they have a 20% shareholding in being kicked off the stock market 6 months later . Hardly good for business. !
If it is the case that we now have only two options, the forced delist or an extension then we we really were up the creek without a paddle and I agree why wasn't a shareholders meeting called for a voluntary delist unless they are confident of getting an extension. Not much time for that rabbit. !
I agree that there is more going on than meets the eye. I think the lack information points to it but unfortunately I can't see the strategy at the moment. If there wasn't the institutional shareholding I would agree that going private would seem the obvious. I can't see how the direction of travel as we know it benefits the institutional shareholders in terms of value who own most of the company.
But they haven't made the matter public as a PLC so far and they have claimed privilege over the investigation and enquiry. Essentially without the appointment of an auditor how are they going to implement any strategy or plan regardless of what legal form the company is in. Who is going to invest, finance and in the extreme do business with company that cannot get an auditor and whose executive had had some meaty accusations pointed at them. That to me is why the corporate governance issue has to be finalised and auditors appointed.
"The auditor (within a LTD company) will mainly be concerned to a) understand what the issue is b) be satisfied it has been dealt with c) ensure the matter is now closed and d) be satisfied the issue will have no major material effect on the company going forward.
IF DX maintain their current stance as outlined in GT's letter to DX regarding their reasons for resignation how are those questions answered.?
Those same questions would have been asked by GT and they obviously didn't get a satisfactory answer. What Changes?
I have no problem with a difference of opinion or if you think my posts are naive.
For opinions to have some credibility they should really be based on fact or reasoned thought. You have implied that based on what you know about Lloyd and Co, that they are not be trusted. You imply that what they tell us may not be the case and since Gatemore came onboard they are now complicit is some sort of strategy. What about the other 40% of institutional investors ?
For the benefit of all readers you should justify a statement with reasoning. Blindly saying based on what I know about Lloyd and Co to justify anything doesn't really cut it for me. But of course people can judge that for themselves.
You make some blasé statement about it being easier to get an auditor when they delist. It's nothing to do with giving info or the share price. An auditors responsibilities don't change because it's not on the AIM. How can it be easier ?? (Care to answer that question)
Of course we can agree to differ and we haven't to long to wait for the next instalment.
Sister - I'm not inclined to believe they cannot get an auditor. !!!! .
What have DX told us in the last RNS. You are implying they are lying or pulling the wool. !!
I prefer my own take on things given the knowledge I have on LD and co. Please expand. !
I hear all the talk about how things "should" work. Problem is, the world doesn't work like that. Rules aren't followed, people/companies say things they don't mean or believe or don't say things they should.
You are implying you know better based on what you know but you offer nothing.
How on earth will it be easier for DX to get an auditor when delisted ?. That doesn't make the slightest sense.
The financial markets ..... Isn't just the share price.!!
I respect your opinion/posts but as far as I am concerned there is no credibility to them.