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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Dimension Res.S | LSE:DMR | London | Ordinary Share | BMG276151062 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:2260C Dimension Resources Ld 23 August 2004 DIMENSION RESOURCES LIMITED CHAIRMAN'S STATEMENT At the company's Annual General Meeting held on Monday 23 August 2004 the following statement was made by the chairman: "Since my statement in the 2003 annual report trading at the group's principal subsidiary in South Africa, Natural Stone Industries Limited, has remained difficult. Further breakdowns to key equipment have reduced production capability at the quarries, and the continued strength of the Rand against the US Dollar, in which sales are priced, have adversely affected cash flow. The Directors have therefore decided to take urgent steps to protect its cash resources. To this end it has been decided to close the Group's processing plant at Vredendal, together with the retail showroom in Somerset West which sells the factory's products to the retail market. No new orders are being accepted at the factory and redundancy notices have been issued. The Group's main quarries, which have substantial orders in hand, will remain open. The board is urgently seeking ways to finance new and reliable equipment for these quarries to increase production and therefore income. The Group remains virtually debt free, having only a small overdraft facility in South Africa, together with a finance lease on a front end loader. Its assets include the freehold factory in Vredendal, and a freehold office block in Somerset West, which secures the Group's rehabilitation liabilities, as well as its quarries and equipment. Shareholders will be informed of future developments. Brian Moritz (Chairman) 23 August 2004 Embargoed to 3.30p.m. on Monday 23 August 2004 This information is provided by RNS The company news service from the London Stock Exchange END AGMQKNKDPBKDQFB
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