I am providing the details of the Initial Buyback of shares, which took place on march 30, 2008 - 10 days after the delisting of DDE from the WSE, as well as the new shareholder list, effective today, April 1, 2008. The new fiscal year commences today as well, with the first dividend to be payed out by May 5th, and the 5th of every subsequent month. Details of dividend payments and updated shareholders lists will be available as we go along.
As I have mentioned before - the remaining shares will be subject to "mandatory buyback" over the coming months as per the schedule I have laid out:
1st Quarter: 2.50L per share
2nd Quarter: 2.75 per share
3rd Quarter: 3.00L per share
4th and subsequent Quarters: 3.25L per share.
As you will see - three investors assisted me in providing cash to complete the buyback of shares - Vitall Beck, Eliale Morigi, and logansan Oh - I am extremely grateful that these three stepped forward to make this all possible. The shares they have purchased as part of this buyback will be considered "reserve" shares - they will not be subject to a buyback until all other shares of DDE have been bought, and will be eligible to receive dividends.
The initial buyback was of 747,253 shares, and the total amount paid out was 1,955,676L. There are now 51 DDE shareholders.
If at any time, any shareholder wishes to cash out their holdings of DDE, I will strive to make this possible. Although I cannot guarantee that I will be able to fulfill the request, I am confident that in most cases, this will be possible.
Click here to see the details of the Initial Buyback
Click here to see the new shareholders list, as of April 1, 2008
Once again - thanks to all. Onward and upward!