Danakali Share Discussion Threads

[master rsi] 03/10/2005 13:56

going higher as is getting closer to The DOW opening and a new BREAKOUT

news out ......

Danka Announces Next Phase of Vision 21 Reengineering Initiative
Expanded relationship with MCI to further reduce costs

Danka Business Systems PLC, (NASDAQ: DANKY; LSE: DNK), a leading independent
global provider of office imaging systems and services, today announced the next
phase of its Vision 21 initiative by broadening its existing relationship with
MCI, Inc ("MCI") in the United States. The agreement with MCI to outsource
additional back office functions will enable Danka to further reduce costs, and
improve business practices.

In July, Danka announced a five-year agreement to outsource the balance of its
U.S. information technology (IT) operations to MCI, including core network
services, IT operations and applications support, Wide Area Network, Local Area
Network, IP services, servers, desktops and phone systems.

Under this phase of Danka's Vision 21 initiative, MCI will provide managed,
optimised back office and call centre functions that will fully integrate with
the existing U.S. information technology (IT) operations already outsourced to
MCI. As part of this agreement, Danka will transition more than 250 employees to
MCI and its application support provider Titan Technology Partners.

"This broadened agreement with MCI is designed to further streamline business
operations, and reduce call centre costs," said Todd Mavis, Danka's chief
executive officer. "This is a logical next step in our efforts to create a more
customer-centric platform, improve our business processes and provide key
enablers to our Manage Print Services strategy."

[master rsi] 01/10/2005 01:10

DANKY $ 2.67 -0.04 -1.48% 397,446 NASDAQ-CM

   

[master rsi] 30/9/2005 15:04

with the opening of Wall Street the price has move forward to 35-38p+0.75
after opening higher on the bid and then going back to unchange after a couple of smalll sells this morning

[yellow_snow] 29/9/2005 18:57

Be even better if the MMs would reflect the US movement properly, 34.5p bid when the mid should be over 38p is criminal.

[zedder] 29/9/2005 18:51

Knocking on the door of $2.75 in the USA which is where it's previous surge stalled in the middle of August. If it breaks $2.80, I'm looking for a quick push past $3.00 this time.

What with this plus RAF I'm having a great day!

[master rsi] 27/9/2005 23:18

very good finished in the Nasdaq $2.70

Intraday

3 month

[zedder] 27/9/2005 18:19

The short interest increased by 640k shares in the month to 15th Sep 05 and the price is still showing strength. See:

[zedder] 27/9/2005 18:15

Surged back up through $2.60 in the US today. Currently $2.625 mid (2.625/4/1.766) ie equiv of 37.2p (weakening $ is helping the UK price as well). Another above average volume day as well, which may even break 1m again. I am getting more and more confident it can get back above $3.

[miata] 26/9/2005 16:00

As I have said before that wont happen.

[rabbrooks] 26/9/2005 14:57

There are going to be losses recorded in the accounts for years. No divi likely in some peoples lifetime,but the market obviously will clutch at any straw under this management to see some sunshine in the future. A takeover of the remaining lump must be a possibility . As i have said before ,Danka is likely to relocate their listing from London as there are relatively few shareholders left over her, unless there are certain tax advantages in remaining here.

[yellow_snow] 26/9/2005 14:40

Looking good in the states again $2.55 at the mo, mid-price finally caught up over here.

[fund1] 26/9/2005 14:39

Looks like I sold out a little to soon.
Good luck to all who still hold, hope this
continues to climb for you all!

[yellow_snow] 26/9/2005 13:47

Another disposal - hasn't caused a blip here, wonder what the effect will be in the states:

--------------------------------------------------------------------------------

RNS Number:7279R
Danka Business Systems PLC
26 September 2005


Danka Announces Sale of Central and South American Business Units

- Transaction Completed with Toshiba for $10 million -

ST. PETERSBURG, Fla., September 26, 2005 - Danka Business Systems PLC (NASDAQ:
DANKY) today announced the sale of its subsidiaries operating in Central and
South America to Toshiba America Business Solutions, Inc., ('TABS') for $10
million in cash. The purchase price is subject to a $1 million holdback for a
period of up to one year for potential contingencies. The transaction
encompasses Danka's operations in Puerto Rico, Mexico, Panama, Brazil,
Venezuela, and Chile.

'The sale of these businesses builds on earlier dispositions and culminates our
efforts to narrow the scope of the Americas Group to our largest and,
historically, most profitable entity, the United States,' said Danka Chief
Executive Officer Todd Mavis. 'This development will simplify our management and
compliance requirements, enabling us to further streamline operations and focus
our time and resources on the significant opportunities related to our
high-value Managed Print Services (MPS) strategy. We plan to continue exploring
additional ways around the world to concentrate our efforts on MPS in
high-opportunity areas.'

The six subsidiaries sold to Toshiba provide, within their respective
territories, imaging systems (including copiers and multi-functional peripheral
devices) as well as related services and supplies. Combined, the subsidiaries
employ about 500 people and contributed revenue of $30.4 million and operating
profit of $1.6 million in Danka's fiscal year ended on March 31, 2005. The
Central and South American Units' cumulative balance sheets assets were $21.6
million as of March 31, 2005. Danka expects to record an estimated non-cash loss
on the sale of approximately $31million in the quarter ended September 30, 2005
in its US GAAP financial statements, approximately two-thirds of which is
attributed to the write-off of non-cash foreign currency cumulative translation
adjustments for the Central and South American business units. Net proceeds from
the sale will be used for working capital and reinvestment purposes.

'This transaction gives us a stronger direct presence in Latin America, which we
believe provides tremendous market opportunities,' said TABS incoming President
and CEO Rick Taylor. 'We are pleased to have concluded this transaction with
Danka, which remains one of our premier business partners.'

As part of its comprehensive reengineering and restructuring initiative, Danka
has exited non-strategic or underperforming operations in several parts of the
world over the past few years, including Canada earlier in the prior quarter and
Portugal and Russia during the fiscal year ended March 31, 2005.

--------------------------------------------------------------------------------

Doesn't look as good as the Canada disposal did, both in terms of the ratio of turnover to price and the fact that it was profitable. That said there are a lot of territories involved and the costs they identify in terms of compliance etc. must have been substanstial. Hopefully its one excuse out of the way and we'll get better performance as a result. Funnily enough there was a rumour on one of the other boards months ago that Toshiba were interested in Danka as a whole, this probably explains where that came from.

[master rsi] 20/9/2005 00:20

that is how it performe on the US as the DOW finished 84 points down

[zedder] 19/9/2005 21:02

$2.53 close in the US. Volume well over 1m. That'll do DANKY. That'll do!

[zedder] 19/9/2005 18:32

USA action not unexpected so far today. Marked down at open, pushed lower mid-morning to try and trip some stop-losses, and now back up through the open price. Volume looking like another 1m+ today. If it closes anything above $2.55 I'll be very happy with that after such a large gain on Friday.

[chicogabb] 19/9/2005 08:53

Danka

mid/Long term, my target is nearer one pound. I for one think it will get there, but not in a straight line.

Wondr what sort of figure they would get if bought...?

as someone said, the tax write offs are huge on their own!

rgds

chico

[zedder] 19/9/2005 08:18

If the USA keeps the momentum going today and gets up though $2.80 or even $3, these will be at least 37p to sell.

[zedder] 19/9/2005 08:17

33.85p. Was hoping for slightly better than that, but never mind.

[zedder] 19/9/2005 08:15

Oh sod all right then especially as they've just lowered the sell so I should be able to get them below 34p. Here goes for another 5k shares.

[zedder] 19/9/2005 08:08

USA equivalent close price was 36.2p. $2.60/4/1.798(Exch Rate), so very cheap here at the moment. Very tempting for a top-up but I already have about a third of my protfolio in these!

[yellow_snow] 18/9/2005 15:01

The potential takeover issue was indirectly raised in the conference call following the last results. One of the analysts asked Mavis about the $3.9 bn tax loss carryover, and Mavis conceded that it would be potentially valuable to a company with large taxable profits. So to some extents the larger and more profitable the company the more attractive Danka is as a target. The cost-cutting and general internal logistical refit fits with a strategy of being groomed for takeover but I'm more of the opinion that any suitors would want to see at least quarters of "progress" before comitting. In the short term lets hope we see the benefit of a greater realisation of the value locked in Danka in many forms.

[zedder] 17/9/2005 11:33

If it can crack $5 in the states for something like 60 trading days (can't remember the exact figure) then that would be VERY significant. Prior to it's share price collapse about 5 years ago, DANKY was on the NASDAQ National Market. As the price collapsed it was then 'relegated' to the NASDAQ Smaller Companies Market. If it can hold the $5+ for the required period it would be 'promoted'. Many US funds only allow National Market stocks to be held. Imagine the buying frenzy then! So I believe that if it can crack $5 and hold it, then $7 or even $8 would follow within 4 months.