DMX - DMX Corporation

[billhill]

Re: DMX - Dolomatrix International

Down 5% to 87cents, is this a reasonable buy at this price it is about the same price as December / January where do people see this downward trend stopping ?

It would appear that 85-87 cents is support so this one probably will not go any lower. That said if it does i will continue to buy up as the current forward PER of this company is around 8, less then half of the other major waste management companies in tox free and Transpacific industries. The company has had a few problems in intergrating aquisitions but i'm confident this will be sorted out soon. The company also has a monopoly on the treatment of high risk waste that will continue to see it in a strong position within the sector and its still trading above its 200 day MA which would inicate it is not really in any kind of serious downtrend.

 

[adobee]

Re: DMX - Dolomatrix International

This is down to about 64cents today.. a substanial drop about 27% . No announcements that I am aware of ? Can anyone advise ..

 

[Purple XS2]

Re: DMX - Dolomatrix International

I've had about $1,500 of this stock for a few months: lost %20 in that time. I hope to think that any well-managed waste-disposal outfit has to do well in the future, but my amatuerish reading of the company statements makes me wonder if this operation isn't too much of a one-man band (the CEO), who seems to be renumerating himself with a lot of options at bargain-basement strike price.
No coincidence I suspect that DMX has recently appointed a non-executive chairman. I suspect there's something of a rethink going on as to how to drive this thing.

For now I'll hold. I also hold a similar quantity of TOX, an unrelated company in the same vein over in WA.

 

[adobee]

Re: DMX - Dolomatrix International

Financial review today states that the ex director / ceo is preparing to take legal action against the company as he was only in the position for 10 days.
Does anyone have info on what basis and his chance of sucess. This is trading at 50c today..

 

[adobee]

Re: DMX - Dolomatrix International

DMX starting to shape up, up 13% so far today with limited sellers. Investors Mutual have become a substanial share holder as of 13th June 2007.

Does anyone still holding DMX consider them a potenial takeover target ?

 

[adobee]

Re: DMX - Dolomatrix International

DMX is slowly creeping back up, there has been substanial gains in recent weeks and some new substanial share holders. Aside from this there doesnt seem to be much news.. Is anyone holding this still ?

 

[adobee]

Re: DMX - Dolomatrix International

Looking at the depth on this there seems to be alot more buyers than sellers which is a refreshing change even at this higher share price level..

 

[Jerstir]

Re: DMX - Dolomatrix International

Hi all, I haven't done a lot of digging into this as yet but following a conversation with a friend a month or so ago regarding Transpacific Industries, I briefly looked at their web site and they sound like a very capable & successful company in this space.

For them to have accepted a placement for 17% and then up that on market to now own 19.7% of Dolomatrix with a cap at 19.9% without a formal takeover offer, the aforementioned takeover offer cannot be far away IMHO.

The announcement caused a bit of a flurry in the sp which has now subsided (possibly still sub-prime confidence affected)... Anyone know anything else in this area or more background on TPI?? My day job & 2 young munchkins restricts my research time currently.

cheers

 

[The Trooper]

Re: DMX - Dolomatrix International

Have been following DMX as am interested in waste management and also since the decline in DMX share prices over the past year. Have about 9000 shares some bought a year ago and some bought recently.

For anyone interested there has recently been a takeover bid of the company by TPI at 30c per share exchangeable for TPI shares, Dolomatrix are opposed to the takeover and there was an article on the takeover bid in today's financial review.

The recent company history is that there has been a complete management change towards the end of last financial year and the new management have been overhauling the business since then. DMX have provided a forecast for the business performance and it will be interesting to see if this forecast is achieved for the second half of the financial year.

I personally am not interested in TPI scrip and have been watching this company also. Whilst they have had a good run i am unsure of how a company with so much debt will manage over the next few years. Whenever i find someone to discuss the management of TPI with i always get mixed messages. I am also interested in recovering a lot more than 30 cents per share for my DMX scrip.

I would be interested if anyone has any thoughts on this as this is the first time i have seen a corporate takeover bid for a company i have shares in.

 

[The Trooper]

Re: DMX - Dolomatrix International

Interesting times - This stock rose 40% yesterday on announcement of an asset sale returning a cash dividend to shareholders.

The asset sale for $58M cash will return a dividend of $0.39 per share to shareholders if the shareholder meeting resolution passes in January.

Thus the present value of trading at $0.36 per share to receive a future value of $0.39 per share in February next year would amount to an approximate 8% return over two months.

The risk seems negligible but is this a good deal?

 

[skc]

Re: DMX - Dolomatrix International

Interesting times - This stock rose 40% yesterday on announcement of an asset sale returning a cash dividend to shareholders.

The asset sale for $58M cash will return a dividend of $0.39 per share to shareholders if the shareholder meeting resolution passes in January.

Thus the present value of trading at $0.36 per share to receive a future value of $0.39 per share in February next year would amount to an approximate 8% return over two months.

The risk seems negligible but is this a good deal?

It's not a dividend, but a return of capital (differences in tax treatment).

The risk is that TPI holds 22.7% of the company and they have not reveal what they are thinking. The thought is that TPI will accept the cash because it is under pressure with its own debt.

If it works out then the annualised return is pretty good. Not only you get 39c cash, you get a free shot at the shell for backdoor listing (or few tenths of a cent by selling after the distribution).

I hold at 36c.

 

[System]

On December 6, 2012, Dolomatrix International Limited changed its name to DMX Corporation Limited.

 

[System]

On December 10th, 2013, DMX Corporation Limited (DMX) was removed from the ASX's official list at the Company's request pursuant to the shareholders approval at the Annual General Meeting held on November 27th, 2013.