Dyson Share Discussion Threads

[jamrol] 01/4/2010 08:07

"assist Shareholders to understand the implications of the De-listing"

we already know the implications of management shafting us!!

anyone considering legal action?

[sleveen] 31/3/2010 18:41

well at least DYS are still trading and the market for Saffil has improved. At least I'll have something left albeit vastly diluted.

Wakeland, a bit of a shocker at JRVS, though I wasn't invested thankfully. Though I was screwed when aero inventory went into administration.

[varies] 31/3/2010 12:35

On a quick reading of today's proposals I conclude that shareholders will end up with under 2% of the new capital (12% x 16% = 1.92%)and that our shares will be marketable only on a matched bargains basis.
This is a textbook illustration of the principle that, when things go wrong, the owner of ordinary shares in a limited company comes last.
But I hope that I may have missed something more positive for us and would be delighted if anyone cares to correct me.

[wakeland] 31/3/2010 12:32

Dyson Group PLC
Proposed Cancellation Of List
RNS Number : 5164J
Dyson Group PLC
31 March 2010





For immediate release 31 March 2010





Dyson Group plc

("Dyson" or "The Group")






PROPOSED CANCELLATION OF LISTING ON OFFICIAL LIST

1. Introduction



On 26 January 2010 the Company announced that significant progress had been made in the ongoing negotiations with its banks and other key stakeholders towards agreeing a solvent debt and capital restructuring of the Company (the "Restructuring"). Further details of the current set of proposals to implement the Restructuring (the "Proposals") are set out in paragraph 2 of this announcement.



A key requirement of the restructuring proposals agreed in principle between the Company, the Banks and the Pension Protection Fund ("PPF") is the cancellation of admission of the Company's shares to the Official List and to trading on the London Stock Exchange's main market for listed securities (the "Delisting"). It is unlikely that the Company would, in any event, meet the qualifications for continued participation on the Official List following completion of the Restructuring. Accordingly, the Board has concluded that the Company should now seek to implement the Restructuring as an unlisted company, which means that the Company will not be required to comply with (or incur costs associated with complying with) the requirements of the Listing Rules during the Restructuring.



Pursuant to the Listing Rules, the De-listing is conditional upon Shareholders' approval being obtained. The Company has today published a circular to Shareholders containing a Notice of Extraordinary General Meeting to be held at 11.00 a.m. on 26 April 2010 at Buchanan Communications, 6th Floor, Moorfields, London, EC2Y 9AE for the purpose of considering and, if thought fit, approving the De-listing. The Circular has been approved by the UK Listing Authority and will today be posted to Shareholders. Copies of the Circular will shortly be available for inspection at the UKLA's Document Viewing Facility, which is situated at Financial Services Authority, 25 The North Colonnade, Canary Wharf, London E14 5HS. In addition, the Circular will shortly be available to view on the Company's website (www.dyson-group.com).



Accordingly, the Company is seeking Shareholders' approval for the Delisting, though it is stressed that the Restructuring, to be carried out in due course, will remain conditional upon further Shareholder approval and will be the subject of a separate circular expected to be published shortly after the effective date of the De-listing. However, to assist Shareholders to understand the implications of the De-listing in the context of the proposed Restructuring, details of the Proposals are also set out in both the Circular and in paragraph 2 of this announcement.



Shareholders should note that if the Resolution to approve the De-listing is approved at the EGM the De-Listing is expected to take place at 8.00 a.m. on the following business day, being 27 April 2010.

[jamrol] 26/2/2010 16:37

this suspension should have been removed ages ago, totally against free trade and I would rather see my 'investment' go to the wall then the management profit!!!

[napoleon 14th] 17/2/2010 16:31

Should be sold to the highest bidder.
Skullduggery means suspension cut a straight bid out.
So if there's "progress" as they're so "pleased" to announce,
DYS competitors could take the company out on a straight bid.
That's how capitalism is supposed to work, innit?

So I move to remove the suspension & see if there are any offers.

[gordonbrown] 09/2/2010 08:38

yep the shareholders have been shafted it would appear, once all profitable parts have been sold and auditors paid off the firm will be put into administration.

totally criminal behaviour, perhaps shareholders should call the directors....

| Christopher Honeyborne, Chairman | |
| Tel: [phone] | |
+-------------------------------------+---------------------------------+
| Julian Cooper, Interim Chief | |
| Executive | |
| Tel: [phone] | |
+-------------------------------------+---------------------------------+
| Buchanan Communications | |
| Tel: [phone]

[garth] 08/2/2010 09:57

Another MBO announced. This time precision ceramics (Hi-por? If it is then they had a significant R&D role....) - £1.8m of assets, 44K of PROFIT for the last 9 months and sold to management for £100K.... That sound like robbery to anyone else???

G.


Dyson Group plc
("Dyson" or "The Group")

MANAGEMENT BUY-OUT OF DYSON PRECISION CERAMICS BUSINESS


Dyson Group (LSE:DYS), the materials technology company, is pleased to announce
that, as part of its ongoing restructuring process, its subsidiary Dyson
Industries Ltd has exchanged contracts with JEMMTEC Ltd and completed the sale
of its Precision Ceramics business (manufacture of products used in the glass
and metals industry), based in Dewsbury, UK for a sum of GBP100k. JEMMTEC is a
company that has been established and is controlled in part by the existing and
previous management of the precision ceramics business and will trade as Magma
Ceramics.

The Precision Ceramics business had gross assets of GBP2.3m at 30 September 2008
and made a profit of GBP53k in the 6 months to 30 September 2008. The interim
results to 30 September 2008 are the most recent published results for Dyson
Group plc. The unaudited management accounts for the 9 months to 31 December
2009 show a profit of GBP44k and gross assets of GBP1.8m.

As a result of the transaction 24 employees will transfer to JEMMTEC Ltd.
JEMMTEC has also entered into a lease for a period of up to two years of the
Dyson site in Dewsbury on a rent free basis for one year but otherwise paying
all holding costs such as rates, security and maintenance costs for the site
during that time.

[mrbt] 08/2/2010 09:52

Dyson Group (LSE:DYS), the materials technology company, is pleased to announce
that, as part of its ongoing restructuring process, its subsidiary Dyson
Industries Ltd has exchanged contracts with JEMMTEC Ltd and completed the sale
of its Precision Ceramics business (manufacture of products used in the glass
and metals industry), based in Dewsbury, UK for a sum of GBP100k. JEMMTEC is a
company that has been established and is controlled in part by the existing and
previous management of the precision ceramics business and will trade as Magma
Ceramics.

The Precision Ceramics business had gross assets of GBP2.3m at 30 September 2008
and made a profit of GBP53k in the 6 months to 30 September 2008. The interim
results to 30 September 2008 are the most recent published results for Dyson
Group plc. The unaudited management accounts for the 9 months to 31 December
2009 show a profit of GBP44k and gross assets of GBP1.8m.

As a result of the transaction 24 employees will transfer to JEMMTEC Ltd.
JEMMTEC has also entered into a lease for a period of up to two years of the
Dyson site in Dewsbury on a rent free basis for one year but otherwise paying
all holding costs such as rates, security and maintenance costs for the site
during that time

They giving everything away....

[gordonbrown] 08/2/2010 09:35

jotoha2 fair enough have learnt a good lession, although talk is that holders will get something back...key word something!!

never mind,

[jotoha2] 07/2/2010 20:03

Hi Gordon , sorry to see you have taken a hit on this one, remember so well when I tried to warn you about this dog , and you would not listen , its a tough lesson but worth it long term.

[gordonbrown] 07/2/2010 19:53

the quiet is so wrong, the FSA should pressure the board to make a statement about accounts and when they will relist shares.

[napoleon 14th] 31/1/2010 23:25

Might get summat back 20p+/share? = Quits 4 me.
See if Saffil saves the day...

Remeber when Carolite was expected? >300p/share!
Live & learn....

[sleveen] 26/1/2010 16:43

sounds promising though they don't mention the builders merchant business which I assume is also improving given recent trading from listed builders.

[mrbt] 26/1/2010 14:51

KEY POINTS


* Significant progress made in ongoing negotiations with banks and key
stakeholders towards agreeing a solvent debt and capital restructuring of the
Company.
* Encouraging trading momentum over the last three months within Saffil, the
Group's principal remaining operating business.
* Operational restructuring of the business progressing well.
* Julian Cooper to join the Board as Interim Chief Executive Officer.
* Resignation of Dr. Krishnamurthy Rajagopal as Non-Executive Director.

[jamrol] 13/1/2010 07:50

almost off the six month chart! 8(

[derekhess] 08/1/2010 12:24

It is just something to consider when buying shares in companies in the future - how does that company treat it's shareholders?

To me it looks like little regard is paid to the shareholders by this company, this is in contrast to other small companies who literally work for the shareholders, viewing them as priority number 1 and the primary stakeholder. Not a ramp at all but take a look at NWKI for an example of a small company that has historically gone above and beyond in looking after it's shareholders.

My advice for DYS is to write off this investment as a total loss and then if you do get something back it can be seen as a bonus. + you never know, these things can turn out a lot better than expected (take a look at British Energy - share price went from £'s to Pence and back to £'s, those who had been holding throughout and kept the faith did eventually get their investment back.

There are some cracking opportunities for investment in AIM in this environment and for every company that has gone the way of DYS there will be two big recovery stories. DYS could just as easily have been one of these. Keep the faith, move on and look for the next opportunity.

[derekhess] 07/1/2010 12:56

This looks to me like they have sold the business to protect the jobs of those working for it, rather than looking to defend shareholder value.

I think this will re-trade at 4p when restructuring is complete.

[churchtower] 04/1/2010 16:45

Might I suggest John Brown's ?

[jamrol] 04/1/2010 10:24

great so the management are selling off the business for £1 to friends and not charging them rent, seems like the smell is getting worse. does anyone know if there is a body that can investigate this company, sadly I can't see this ever trading again.

[garth] 26/12/2009 10:55

I wonder whether or not that includes the Solar crucibles business that was at one point rumoured to have developed for PVCS?

Might have been nice to have received another broader update at the same time as the unaudited accounts have been referred to in the announcement.....

Shareholders getting shafted?

G.

[bigchrisrogers] 24/12/2009 10:10

MANAGEMENT BUY-OUT OF KILN FURNITURE BUSINESS




Dyson Group (LSE:DYS), the materials technology company, is pleased to announce
that, as part of its ongoing restructuring process, its subsidiary Dyson
Industries Ltd yesterday exchanged contracts with IPS Ceramics Ltd and completed
the sale of its Kiln Furniture business (design and manufacture of kiln
furniture products for the Ceramic Industry), based in Stoke-on-Trent, UK for a
nominal sum of GBP1. IPS Ceramics Ltd is a company that has been established and
is controlled by the existing local management of the kiln furniture business.


The Kiln Furniture business had gross assets of GBP4.3m at 30 September 2008 and
made a loss of GBP0.1m in the 6 months to 30 September 2008. The interim results
to 30 September 2008 are the most recent published results for Dyson Group plc.
The unaudited management accounts for the 8 months to November 2009 show a loss
of GBP0.5m and gross assets of GBP2.4m.


As a result of the transaction 70 employees will transfer to IPS Ceramics Ltd.
IPS Ceramics Ltd has also entered into a lease for a period of up to two years
of the Dyson site in Stoke-on-Trent on a rent free basis for one year but
otherwise paying all holding costs such as rates, security and maintenance costs
for the site during that time.