Scratch Cards > Scratch Cards News > A UK Traded Scratch Cards Company Goes Private

A UK Traded Scratch Cards Company Goes Private

DM PLC is a scratch cards company founded by Adrian Williams and located in the United Kingdom. The company first went public in the London Stock Exchange back in 2004 with an initial share price of 12p a share.

By mid-2008 the company's shares skyrocketed to 17p a share which is why the news that company founder Williams made a bid of 1.8p a share to buy the company back has hit traders in London with much surprise.

The company according to Williams is now valued at just 2.94 million GBP and looking at what the company went through in the recent years makes it easy to understand its downfall.

Earlier this year the company had to discontinue a line of scratch cards deemed misleading by the authorities as they were used as magazine inserts that caused readers to initially believe they won a prize when actually all they received as an offer to purchase some item at a discount price.

During the 7 years that the company has been publicly traded William s has pocketed around 20 million GBP in dividends, salaries, bonuses and acquisition fees. He currently controls 73.1% of the company's shares and threatens small shareholders that he is taking the company private whether they agree to his bid offer or not.

Market analysts suggest that Williams and his co-director have profited up to 12.5 million GPB from acquisition fees for companies DM PLC acquired with the funds it generated from shareholders.

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