Danakali Share Discussion Threads

[chancer6] 06/12/2007 13:13

2.50-2.70P, but can't buy any at 2.70p, next MM is on 3.50p offer.

[8trader] 06/12/2007 13:01

Still cant believe your trying to pump and dump a company
that has 400 mil + of debt in USD :-))

[chancer6] 06/12/2007 12:52

2.5-3.0p, 2 * 10K AT sells....50K buy ready to go through at 3p.

[chancer6] 06/12/2007 10:33

Date Time Price Volume Type Consider
06/12/2007 09:44:14 3.75 23,442 O 879.07

[chancer6] 06/12/2007 08:46

Well doesn't seem to be down thus far at 2.75-3.70p. NASDAQ ADR's will be de-listed by next friday so should have seen the worse of the decline with the LSE listing IMO.

[chancer6] 05/12/2007 18:27

Me thinks the price has fallen too much if the NASDAQ ADR's are valued with a mkt cap of 12.30 million against the LSE mkt cap at close of 10.71million.

[dell314] 05/12/2007 15:38

geng - Your snippet precedes the latest balance sheet date, which shows shareholder's equity at minus $431mln.
I haven't looked at the numbers in any detail but I'd guess that DNK are downplaying the debt in your news snippet by not including the convertible in their figures.
It might be an idea to check out what rights convertible holders have.

All IMHO, DYOR etc.

Rgds
dell

[chancer6] 05/12/2007 15:03

Date Time Price Volume Type Consider
05/12/2007 15:00:56 3.30 25,000 O 825.00

[seanmiller] 05/12/2007 14:55

chancer6, your dealings today.

50k shares purchased @ 3.25p = £1,625

50k shares now valued at 2.80p (fingers crossed) = £1,400

Dealing Costs £10 approx - total loss on DNK thus far of £235.00

[chancer6] 05/12/2007 14:43

Must be the highest volume day this year!

[geng] 05/12/2007 14:42

I thought total debt was as stated when they refinanced:-

ST. PETERSBURG, Fla.--(BUSINESS WIRE)--June 19, 2007--Danka Business Systems PLC (NASDAQ:DANKY) today announced that it has entered into an agreement with GE Corporate Lending for a new senior secured credit facility totaling $145 million that would be used, together with the proceeds of the Company's previously completed sale of its European operations, to significantly reduce and refinance the Company's existing indebtedness.

Upon completion of this financing, the Company expects to reduce its overall indebtedness to approximately $120 million, down from $254 million. It will also reduce annual interest expense to approximately $13 million from the current $29 million.

[cyberpost] 05/12/2007 14:07

It has debts of $440 MILLION
market cap is around $22 MILLION (not $13m)

so in reality the enterprise value is a staggering $462 MILLION.

taking the market cap on its own is deceptive.. you need to take into account the debt.

[cyberpost] 05/12/2007 14:03

geng

which balance sheet are you reading ? Danka has shareholder funds of -$430,914,000

you call negative net worth of $430m 'slightly' ?

[chancer6] 05/12/2007 13:59

Alot of buys reported on PLUS:

Trade Date Trade Time Price Volume Type Consideration Conditions
05/12/2007 12:47:42 3.60 20,000 O 720.00
05/12/2007 12:41:17 3.50 25,000 O 875.00
05/12/2007 12:34:13 3.50 20,000 O 700.00
05/12/2007 12:33:44 3.49 3,107 O 108.43
05/12/2007 12:16:51 3.02 20,000 O 605.00
05/12/2007 12:13:53 3.51 1,000 O 35.10
05/12/2007 11:31:44 3.25 15,000 O 487.50
05/12/2007 11:22:52 3.25 10,000 O 325.00
05/12/2007 11:22:01 3.25 25,000 O 812.50
05/12/2007 10:58:49 3.00 65,174 O 1,955.22
05/12/2007 08:37:17 3.01 6,282 O 189.09
05/12/2007 08:24:33 3.00 20,000 O 599.00

[geng] 05/12/2007 13:21

Although slightly negative net worth.

They still have over $400M revenue with approx £150M debt.

current share price values the Co under $13M

Won't take much for it to become viable and the price will rise

This is very unlikely to happen until the delisting on the NAS as US PI's are selling before the delisting. It does appear though that the shares are being bought - poss by institutions or even AD Frazier ? now that would really make it rocket from here.

Still a very very long shot with all that debt

[chancer6] 05/12/2007 11:55

I've only taken a trading position based on the price being oversold with the sharp fall from 10p.

[cyberpost] 05/12/2007 11:53

8trader

the balance sheet just gets in the way of a good old ramp by chancer ;-)

[cyberpost] 05/12/2007 11:52

chancer

thats one of the reason.. major reason being it has NO net assets. In fact negative net worth. Negative assets.

[chancer6] 05/12/2007 11:50

3.00-3.70p, 16K buy at 3.72p - premium...seems to be v.hard to buy.

[8trader] 05/12/2007 11:48

cyberpost !

Ask chancer about the balance sheet, i doubt you will get a response :-))

[chancer6] 05/12/2007 11:47

ST. PETERSBURG, FLORIDA (November 27, 2007) - Danka Business Systems PLC
(NASDAQ: DANKY), whose primary listing of its ordinary shares is on the London
Stock Exchange, today announced that the Company's Board of Directors has
determined to voluntarily delist its American Depositary Shares ("ADSs") from
the Nasdaq Capital Market and move them to the OTC Bulletin Board. The Company's
ordinary shares are unaffected by this action and will continue to trade on the
London Stock Exchange.

Danka Chairman and Chief Executive Officer A.D. Frazier stated: "To be clear,
our primary listing is in London and remains unchanged. As such, this decision
does not impact the Company's financial status, nor will it have an effect on
the way we conduct our business or on the nature of our existing and future
customer and partner relationships. This has been a year of transformation for
Danka, highlighted just last week with the signing of two separate partnership
initiatives designed to further reinforce the Company's independent leadership
position in the enterprise imaging marketplace."

[chancer6] 05/12/2007 11:45

Thanks cyberpost....no other reason for the fall from 10p then.