Dignity (DTY)

Sector:

Retailers

Index:

FTSE Small Cap

724.00p
   
  • Change Today:
      85.00p
  • 52 Week High: 741.00p
  • 52 Week Low: 239.50p
  • Currency: UK Pounds
  • Shares Issued: 50.03m
  • Volume: 305,868
  • Market Cap: £362.21m
  • RiskGrade: 242

Dignity chairman meets demise at hands of shareholders

By Sean Farrell

Date: Thursday 22 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Dignity's chairman has been ousted by the funeral company's shareholders, triggering a wider boardroom walkout.
Shareholders voted 55% in favour of Clive Whiley's removal from the board after a year and a half as chairman. They also voted 61% for Gary Channon, who represents Dignity's biggest investor Phoenix Asset Management, to join as an executive director.

Dignity's board had urged shareholders to vote against both resolutions proposed by Phoenix. The activist investor wanted to replace Whiley as executive chairman with Channon, Phoenix's chief investment officer, but Dignity said he was not qualified. Excluding Phoenix's 29.9% stake shareholders who voted opposed the resolutions, Dignity said.

Acting chairman Dean Moore told the meeting the company had tried to find a way for Whiley to stay on and work with Channon as non-executive chairman with Channon acting as interim chief executive until a suitable candidate was found.

"In spite of the best efforts of the independent directors and the willingness of Clive Whiley to proceed in this manner, unfortunately it has not been possible to reach such a compromise," Moore said.

Moore and two other non-executive directors, Gillian Kent and Paul Humphreys, have quit as a result of the votes. Kent and Humphreys have left immediately and Moore, who is also interim finance director, has volunteered to stay on for three months if required.

The new board will comprise Channon, James Wilson, who also represents Phoenix, and Andrew Judd, director of funeral operations.

Phoenix said: "We are delighted with the result. We thank our fellow shareholders for their support. We now have to show our ourselves worthy of it and we will get straight to work on that today."

Dignity shares rose 0.9% to 650p at 12:55 BST. The shares have lost three-quarters of their value over the past five years, prompting calls for a radical overhaul of strategy.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Dignity Market Data

Currency UK Pounds
Share Price 724.00p
Change Today 85.00p
% Change 13.30 %
52 Week High 741.00p
52 Week Low 239.50p
Volume 305,868
Shares Issued 50.03m
Market Cap £362.21m
RiskGrade 242

Dignity Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
76.63% above the market average76.63% above the market average76.63% above the market average76.63% above the market average76.63% above the market average
61.70% above the sector average61.70% above the sector average61.70% above the sector average61.70% above the sector average61.70% above the sector average
Price Trend
29.70% above the market average29.70% above the market average29.70% above the market average29.70% above the market average29.70% above the market average
1.89% above the sector average1.89% above the sector average1.89% above the sector average1.89% above the sector average1.89% above the sector average
Income Not Available
Growth
28.53% below the market average28.53% below the market average28.53% below the market average28.53% below the market average28.53% below the market average
2.04% above the sector average2.04% above the sector average2.04% above the sector average2.04% above the sector average2.04% above the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 1
Sell 0
Strong Sell 1
Total 2
sell
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Dignity Dividends

  Latest Previous
  Final Final
Ex-Div n/a 16-May-19
Paid n/a 28-Jun-19
Amount 0.000p 15.74p

Trades for 23-Jun-2021

Time Volume / Share Price
16:44 1,250 @ 724.00p
16:40 1,250 @ 724.00p
16:35 16,803 @ 724.00p
16:29 108 @ 724.00p
16:29 200 @ 721.00p

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