DCML continues to invest in Danka Business Systems

By Lisa Kerner

Charlotte, N.C., Oct. 30 - DCML LLC reported the purchase of 325,699 American Depositary Shares of Danka Business Systems plc between Sept. 19 and Oct. 14 at prices from $0.0625 to $0.08 each.

Each ADS represents four ordinary Danka shares, according to a schedule 13D filed with the Securities and Exchange Commission.

DCML beneficially owns 22 million, or 8.5%, of Danka's ordinary shares.

As previously reported, DCML asked Danka's board members up for re-election to relinquish their seats to DCML's director nominees.

DCML planned to vote against all resolutions proposed at Danka's 2008 annual meeting on Friday.

Danka shareholders are set to vote on a resolution for the company to enter into a members' voluntary liquidation at an extraordinary general meeting to be convened following the annual meeting.

DCML said it strongly opposes a voluntary liquidation.

Danka believes that since the sale of Danka Office Imaging Co. to Konica Minolta Corp., the company 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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