Minutes before the Special Meeting was due to take place on Thursday (18 Jan), tinyBuild released a notification through the regulatory news service (RNS) to say the board had taken the decision to postpone the vote due to a number of significant shareholders being unable to submit their votes in time.
I can tell you that the process has been plagued with issues; many stemming from the secondary listing in Frankfurt being fairly unofficial, which has complicated the process of identifying shareholders.
Back on the 11th, I put out a note with the details of a representative from Equiniti which had very recently been appointed as a proxy service advisor to handle shareholder queries related to the vote. Obviously that didn't leave much time for people to resolve the issues they were facing and submit their votes, making it not all that surprising that the vote has been pushed back.
As of today, it seems that people holding the Frankfurt-listed shares through Interactive Brokers (IBKR) have finally been able to cast their votes after a long struggle, so hopefully others will be able to do the same.
The adjourned meeting will now be held on next Friday, the 26th.
I will be stopping the Firm Returns Weekly newsletter after this week, making this the last edition. The rationale is simple: I want to devote more time to researching and writing long-form write-ups, which I'm struggling to do alongside the commitment to a weekly newsletter (and accompanying audio/video recordings).
I will continue to provide updates on the companies I own in my portfolio, but these will be less regular and more focused on major events such as earnings releases. These newsletters will come under the heading Company Updates, to distinguish them from new stock analysis and portfolio updates.
I am well under way on a write-up of DSW Capital, that I'm hoping to get out by the end of the month. Things have been a little held up by my catching the flu last weekend, but I'm getting back on track.