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De La Rue PLC (DLAR.L)

DLAR.L on London Stock Exchange

127.20GBp
10 Dec 2019
Change (% chg)

-6.60 (-4.93%)
Prev Close
133.80
Open
130.80
Day's High
134.80
Day's Low
126.40
Volume
302,549
Avg. Vol
302,066
52-wk High
466.00
52-wk Low
125.40

Latest Key Developments (Source: Significant Developments)

De La Rue To Suspend Dividend, Posts HY Loss Vs. Year-Ago Profit
Tuesday, 26 Nov 2019 

Nov 26 (Reuters) - De La Rue Plc ::H1 REVENUE 232.3 MILLION STG.ON TRACK AND AIMING TO ACCELERATE THREE-YEAR 20 MLN POUNDS COST REDUCTION PROGRAMME .BOARD HAS DECIDED TO SUSPEND FUTURE DIVIDEND PAYMENTS.H1 ADJUSTED OPERATING PROFIT 2.2 MILLION STG VERSUS 17 MILLION STG YEAR AGO.TO SUSPEND FUTURE DIVIDEND PAYMENTS TO MANAGE NET DEBT LEVELS AS ONE OF MEASURES UNDERTAKEN TO RESPOND TO IDENTIFIED MATERIAL UNCERTAINTY.BUSINESS EXPERIENCED UNPRECEDENTED PERIOD OF CHANGE WITH CHAIRMAN, CEO, MOST OF EXECUTIVE TEAM LEAVING OR RESIGNING IN PERIOD.SAYS "NEW BOARD IS WORKING TO STABILISE MANAGEMENT TEAM, WHICH WE BELIEVE WILL TAKE SOME TIME".REVIEWING COST BASE AND WILL MAKE STRUCTURAL CHANGES.BETWEEN NOW AND END OF CALENDAR Q1 2020, CO WILL COMPLETE A FULL REVIEW OF BUSINESS.IMPLEMENTING SET OF IMMEDIATE ACTIONS, IN ADDITION TO UNDERTAKING FULL REVIEW, WHICH IS EXPECTED TO COMPLETE DURING CALENDAR Q1 2020.IMMEDIATE ACTIONS INCLUDE A REDUCTION IN DISCRETIONARY SPEND.IMMEDIATE ACTIONS INCLUDE DEEPER FOCUS ON CASH ITEMS INCLUDING INVENTORY MANAGEMENT, ACCOUNTS RECEIVABLE, OPERATIONAL EFFICIENCY DRIVERS.IMMEDIATE ACTIONS INCLUDE AN ACCELERATION OF CO'S RESTRUCTURING PLAN, SPECIFICALLY TARGETING COMPANY-WIDE OVERHEAD COST REDUCTION.IMMEDIATE ACTIONS INCLUDE RISK-MITIGATING ACTIONS TO DELIVER ITS H2 2019/20 AND FULL YEAR FORECASTS.HY IFRS OPERATING LOSS OF 9.2 MLN STG (H1 2018/19: PROFIT 10.1 MLN STG).  Full Article

De La Rue Appoints Clive Vacher CEO To Replace Martin Sutherland
Monday, 7 Oct 2019 

Oct 7 (Reuters) - De La Rue PLC ::APPOINTMENT OF CLIVE VACHER AS CHIEF EXECUTIVE OFFICER AND AN EXECUTIVE DIRECTOR WITH EFFECT FROM 7 OCTOBER 2019.MARTIN SUTHERLAND STANDS DOWN AS CHIEF EXECUTIVE OFFICER AND AS A DIRECTOR OF COMPANY, HAVING COMPLETED AN ORDERLY HANDOVER.WILL CONTINUE WITH PROPOSED REORGANISATION OF BUSINESS INTO TWO DIVISIONS.OPERATING MODEL IS BEING REALIGNED TO FOCUS ON TWO BUSINESSES, CURRENCY AND AUTHENTICATION.TO COMPLETE CHANGES TO BOARD, ANDY STEVENS, SENIOR INDEPENDENT DIRECTOR, AGREED TO STEP DOWN EARLIER THAN PREVIOUSLY ANNOUNCED.NEW DIVISIONS WILL BE LED BY RUTH EULING, MANAGING DIRECTOR, CURRENCY AND ANDREW CLINT, MANAGING DIRECTOR, AUTHENTICATION.  Full Article

KuShco Holdings Says Entered Distribution Agreement With De La Rue
Tuesday, 17 Sep 2019 

Sept 17 (Reuters) - KushCo Holdings ::ENTERED AN EXCLUSIVE DISTRIBUTION AGREEMENT WITH DE LA RUE.VIA DEAL, CO WILL OFFER STANDARD, CUSTOM BRANDED ANTI-COUNTERFEIT SECURITY LABELS TO CANNABIS AND CBD INDUSTRIES.  Full Article

Crystal Amber Fund Says NAV/Share Rose 1.8% To 249.1 Pence
Friday, 13 Sep 2019 

Sept 13 (Reuters) - Crystal Amber Fund Ltd ::NET ASSET VALUE PER SHARE ROSE BY 1.8% TO 249.12P (244.62P AT 30 JUNE 2018, 221.67P AT 31 DECEMBER 2018).PERIOD WAS DOMINATED BY UNCERTAINTY AROUND BREXIT. EQUITIES MOVED SIDEWAYS AS DEAL ACTIVITY REDUCED AND CONSUMER CONFIDENCE WEAKENED.INTERNATIONAL INVESTORS HAVE REDUCED THEIR EXPOSURE TO UK ASSETS TO HISTORICALLY LOW LEVELS."PROGRESS HAS BEEN FRUSTRATING IN SOME AREAS, SUCH AS DE LA RUE AND NORTHGATE".  Full Article

Brandes Investment Partners Discloses 11.00% Stake As Of June 25 In De La Rue - Filing
Monday, 2 Sep 2019 

Sept 2 (Reuters) - De La Rue PLC ::BRANDES INVESTMENT PARTNERS DISCLOSES 11.00% STAKE AS OF JUNE 25 VERSUS PRIOR STAKE OF 10.02% IN DE LA RUE - FILING.  Full Article

De La Rue PLC Appoints Kevin Loosemore As Chairman Designate
Monday, 2 Sep 2019 

Sept 2 (Reuters) - De La Rue PLC ::DE LA RUE APPOINTS NEW CHAIRMAN.APPOINTMENT OF KEVIN LOOSEMORE AS A NON-EXECUTIVE DIRECTOR AND CHAIRMAN DESIGNATE WITH EFFECT FROM 2 SEPTEMBER 2019.PHILIP ROGERSON HAS INFORMED BOARD THAT HE WILL RETIRE AS CHAIRMAN AND AS A NON-EXECUTIVE DIRECTOR ON 1 OCTOBER 2019.KEVIN WILL SUCCEED PHILIP AS CHAIRMAN ON HIS RETIREMENT.  Full Article

De La Rue Says Expectations For 2019/20 Remain Unchanged
Thursday, 25 Jul 2019 

July 25 (Reuters) - De La Rue PLC ::DE LA RUE PLC - BOARD'S EXPECTATIONS FOR 2019/20 REMAIN UNCHANGED FROM FULL YEAR RESULTS STATEMENT ISSUED ON 30 MAY 2019..DE LA RUE PLC - GROUP'S PERFORMANCE IS EXPECTED TO BE HEAVILY WEIGHTED TOWARDS SECOND HALF OF YEAR..  Full Article

UK's SFO Confirms De La Rue Probe Over 'suspected Corruption' In South Sudan
Tuesday, 23 Jul 2019 

July 23 (Reuters) - UK's SFO:UK'S SFO- CONFIRMS IT HAS OPENED AN INVESTIGATION INTO ACTIVITIES OF DE LA RUE, ASSOCIATED PERSONS IN RELATION TO SUSPECTED CORRUPTION IN SOUTH SUDAN.  Full Article

De La Rue Recommends Shareholders Vote For Re-Electing Chairman At AGM
Wednesday, 17 Jul 2019 

July 17 (Reuters) - De La Rue PLC ::RESPONSE TO CRYSTAL AMBER STATEMENT.NOTES ANNOUNCEMENT MADE TODAY BY CRYSTAL AMBER FUND.SENIOR DE LA RUE MANAGEMENT HAS HAD VERY SIGNIFICANT LEVELS OF INTERACTION WITH CRYSTAL AMBER SINCE CRYSTAL AMBER BECAME A SHAREHOLDER.BELIEVES CRYSTAL AMBER PROPOSAL IS "NOT IN BEST INTERESTS OF COMPANY".CONSIDERED VERY CAREFULLY CRYSTAL AMBER'S VARIOUS STRATEGIC PROPOSALS.BOARD UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE FOR ALL RESOLUTIONS AT AGM, INCLUDING RE-ELECTION OF CHAIRMAN.UNANIMOUSLY RECOMMENDS THAT SHAREHOLDERS VOTE FOR ALL RESOLUTIONS AT AGM, INCLUDING RE-ELECTION OF CHAIRMAN.NOTES THAT FOLLOWING INTRODUCTION TO A POTENTIAL ACQUIRER FACILITATED BY CRYSTAL AMBER OTHER PARTY DID NOT RESPOND.IN ADDITION TWO SUGGESTED ACQUISITION TARGETS WERE ASSESSED BY CO, BUT IN EACH CASE CO CONCLUDED THAT THEY WERE OF NO STRATEGIC MERIT.IF ANY SHAREHOLDER WISH TO NOMINATE CANDIDATES FOR POSITIONS FOR WHICH SUCCESSOR BEING SOUGHT, WOULD INCLUDE CANDIDATES IN FORMAL PROCESS.CHAIRMAN, SENIOR REPRESENTATIVES OF CO HELD 10 MEETINGS WITH CRYSTAL AMBER AND HAD OVER 30 EMAIL EXCHANGES WITH CRYSTAL AMBER.NOTES ANNOUNCEMENT BY CRYSTAL AMBER FUND PROPOSING THAT DE LA RUE'S CHAIRMAN PHILIP ROGERSON DOES NOT SEEK RE-ELECTION AT AGM.  Full Article

Fund Piles Pressure On De La Rue With Threat To Oust Chair - Sky News
Tuesday, 16 Jul 2019 

July 16 (Reuters) - :FUND PILES PRESSURE ON DE LA RUE WITH THREAT TO OUST CHAIR - SKY NEWS.CRYSTAL AMBER HAS TOLD ‎DE LA RUE IT WILL CALL AN EGM UNLESS PHILIP ROGERSON QUITS THIS MONTH- SKY NEWS.  Full Article

UPDATE 1-Activist Crystal Amber bets on Britain's De La Rue

Dec 3 Activist fund Crystal Amber more than doubled its stake in De La Rue Plc, days after the banknote printer warned of "significant doubt" that it can continue as a going concern and said it would scrap its dividend to tackle mounting debt.