DCML ups stake in Danka Business Systems

By Lisa Kerner

Charlotte, N.C., Feb. 3 - Danka Business Systems plc investor DCML LLC purchased 735,768 shares between Dec. 17 and Jan. 26 for a total of $43,971, according to a schedule 13D/A filed with the Securities and Exchange Commission.

DCML beneficially owns 32,212,972, or 12.43%, of the company's outstanding ordinary shares.

The investor reserves the right to further discuss and/or meet with Danka's management, board of directors, potential acquirers, financing sources and other shareholders and/or formulate plans or proposals regarding the company's securities, the filing said.

In a prior SEC filing, DCML reported the purchase of 1,803,566 American Depositary Shares between Nov. 21 and Dec. 16 for a total of $90,941. Each ADS represents four ordinary shares.

As previously reported, DCML is strongly opposed to a voluntary liquidation of Danka.

Danka will ask its shareholders to approve the liquidation at an extraordinary general meeting on Feb. 19.

Since selling Danka Office Imaging Co. to Konica Minolta Corp., Danka said it has no reason to exist. Prior to the sale of Danka Office Imaging, St. Petersburg, Fla.-based Danka Business Systems provided office imaging equipment, software, support and related services and supplies in the United States.

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