The Lemon Fool

It now seems I was allocated 122 shares I was entitled to under the open offer (from an original holding of 280), plus 246 out of 478 excess shares I applied for. This seems a fairly random allocation number; some others who applied for excess must have got more of what they wanted.

It's seldom that an RNS reveals details of the personal life of directors, but this Director/PDMR Shareholding announcement does just that.

Tranactions 1 and 2 are a straight forward Bed-and-ISA move by Mr Vacher, but not all of it went into his ISA, part of it was an early Christmas present for his fiancee.

Merry Christmas to the happy couple.

Transaction 3: Fiancee of the Executive Director/Chief Executive Officer
....
Transaction 1: Sale of 93,000 Ordinary Shares by Mr Vacher.
Transaction 2: Purchase of 80,000 Ordinary Shares into Mr Vacher's ISA.
Transaction 3: Purchase of 13,000 Ordinary Shares into Ms DeMarchi's ISA.

https://www.investegate.co.uk/de-la-rue ... 10597090J/

Breelander wrote:It's seldom that an RNS reveals details of the personal life of directors, but this Director/PDMR Shareholding announcement does just that.

Tranactions 1 and 2 are a straight forward Bed-and-ISA move by Mr Vacher, but not all of it went into his ISA, part of it was an early Christmas present for his fiancee.

Merry Christmas to the happy couple.

Transaction 3: Fiancee of the Executive Director/Chief Executive Officer
....
Transaction 1: Sale of 93,000 Ordinary Shares by Mr Vacher.
Transaction 2: Purchase of 80,000 Ordinary Shares into Mr Vacher's ISA.
Transaction 3: Purchase of 13,000 Ordinary Shares into Ms DeMarchi's ISA.

https://www.investegate.co.uk/de-la-rue ... 10597090J/

Not quite straight forward, given the sums involved. Presumably the split was arranged due to the "new" ISA and his fiancée's £20,000 contribution limit.

The prices of 151.4p and 151.44p show the tightness of a bid/offer spread you can achieve with a "friendly" broker though (if you are a high net worth Executive Director at a listed company, at least!).

I bought into this one a month or so back at 137p (or more correctly my wife's SIPP did!).

Latest trading Update (and the previous one that got missed here).

https://www.investegate.co.uk/de-la-rue ... 00042105V/

https://www.investegate.co.uk/de-la-rue ... 00081277N/

Seem quite positive on the turnaround story continuing.

Resignation of Chairman and accelerated search for replacement

De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the "Company") today announces that Kevin Loosemore has resigned as a Director of the Company to draw a line under recent speculation surrounding the leadership of the Company. He will leave office effective 1 May 2023.

https://www.investegate.co.uk/de-la-rue ... 19433181W/

Breelander wrote:Resignation of Chairman and accelerated search for replacement

De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the "Company") today announces that Kevin Loosemore has resigned as a Director of the Company to draw a line under recent speculation surrounding the leadership of the Company. He will leave office effective 1 May 2023.

https://www.investegate.co.uk/de-la-rue ... 19433181W/

I thought that news might have sent the share price up a tad but no, even further down today. My loss on this company, which I have held for yonks, is 93.73% so not much more to loose. Fortunately, I only had a fairly small holding but unfortunately most of my holdings seem to be in the red a.t.m. and I can't see many of them recovering t.b.h. I wonder who will take over; I doubt there'll be much of a rush. Difficult to see how there could be much improvement.

Bouleversee wrote:

Breelander wrote:Resignation of Chairman and accelerated search for replacement

https://www.investegate.co.uk/de-la-rue ... 19433181W/

I thought that news might have sent the share price up a tad but no, even further down today. My loss on this company, which I have held for yonks, is 93.73% so not much more to loose. Fortunately, I only had a fairly small holding but unfortunately most of my holdings seem to be in the red a.t.m. and I can't see many of them recovering t.b.h. I wonder who will take over; I doubt there'll be much of a rush. Difficult to see how there could be much improvement.

The news was released at 4:15pm, maybe a bit more of a reaction when the markets re-open next week. The activist investor fund Crystal Amber has been pushing for this since last year, wanting to put their own man in charge. Looks like they may get their wish....

Activist investor Crystal Amber blasts De La Rue claiming banknote maker's turnaround plan has 'failed by every measure' as pressure builds on chair

Activist investor Crystal Amber wants to oust De La Rue chairman Loosemore...

https://www.thisismoney.co.uk/money/mar ... asure.html

Crystal Amber wrote:On 31 March 2023 the Fund announced that it had sent to the board of De La Rue plc ("De La Rue") a requisition notice requiring De La Rue to convene a general meeting at which a resolution will be proposed to remove Non-Executive Director and Chairman Kevin Loosemore ("the Requisition"). The Requisition also proposed to appoint Pepyn Dinandt as a Non-Executive Director and Chairman.

https://www.investegate.co.uk/crystal-a ... 00063857V/

De La Rue wrote:The Board has launched an accelerated recruitment process, with an external search company, with the aim of appointing a new non-Executive Chairman on 2 May 2023, or as soon as practicable thereafter.

Pepyn Dinandt, who has been nominated by Crystal Amber Fund Limited and who has indicated his willingness to serve, will be a candidate in this process.

https://www.investegate.co.uk/de-la-rue ... 19433181W/

The trouble is that bank notes are pretty useless these days. I tried to pay for a card costing £2.50 in a charity shop today with a fiver which had been sitting in my wallet for ages but they had no change so I paid with a bank card. Tough on those who don't do online banking and don't have bank cards and tough on De la Rue shareholders. It's such a pity they didn't get the passport contract. I just hope tha activator and the new ceo.have some bright ideas.

Breelander wrote:

Bouleversee wrote:I thought that news might have sent the share price up a tad but no, even further down today. My loss on this company, which I have held for yonks, is 93.73% so not much more to loose. Fortunately, I only had a fairly small holding but unfortunately most of my holdings seem to be in the red a.t.m. and I can't see many of them recovering t.b.h. I wonder who will take over; I doubt there'll be much of a rush. Difficult to see how there could be much improvement.

The news was released at 4:15pm, maybe a bit more of a reaction when the markets re-open next week. The activist investor fund Crystal Amber has been pushing for this since last year, wanting to put their own man in charge.....

De La Rue wrote:The Board has launched an accelerated recruitment process, with an external search company, with the aim of appointing a new non-Executive Chairman on 2 May 2023, or as soon as practicable thereafter.

Pepyn Dinandt, who has been nominated by Crystal Amber Fund Limited and who has indicated his willingness to serve, will be a candidate in this process.

Well, There's a new man at the helm, but it isn't Pepyn Dinandt...

De La Rue wrote:De La Rue plc (LSE: DLAR) ("De La Rue", the "Group" or the "Company") is pleased to announce that, following a comprehensive selection process, it has appointed Clive Whiley as Non-Executive Chairman of the Board, effective immediately.

https://www.investegate.co.uk/announcement/7531957

Thanks for that info, Bree. I can't say it fills me with joy, however i seem to remember my Mothercare shares disappeared into the ether.. i must check my records as to what happened there as my memory seems to have deserted me.

Bouleversee wrote:Thanks for that info, Bree. I can't say it fills me with joy, however i seem to remember my Mothercare shares disappeared into the ether.. i must check my records as to what happened there as my memory seems to have deserted me.

I daresay De La Rue still has places elsewhere in the world that are still wedded to bank notes to go after but as for its UK market it is a bit like continuing to make horse whips in the 1920s in the UK.

And the new Chairman is a Non Executive not the CEO.

Dod

s.p. down 2.87% a.t.m.