DANKY can somebody translate this:
The Joint Liquidators of Danka Business Systems PLC ( “ Danka ” or the “ Company ” ) are pleased to announce that they have declared a first liquidation distribution on August 10, 2010. Pursuant to the Company’s articles of association, the holders of the Company’s 6.50% convertible participating shares are entitled to all of the surplus assets of Danka. However, pursuant to the terms of an agreement between the Company and the convertible participating shareholders, the Liquidators have been instructed to first distribute to holders of ordinary shares (including holders of ADSs) an amount equal to $0.03 per ordinary share (or $0.12 per ADS) prior to any distribution to convertible participating shareholders. Any remaining surplus assets will then be distributed over time to the convertible participating shareholders. The Joint Liquidators believe that the Company has insufficient assets to be able to pay in full the amounts due to convertible participating shareholders in accordance with the Company’s articles of association. and that, therefore, no further amounts will be paid to the holders of ordinary shares (including holders of ADSs). Accordingly, the Company’s ordinary shares (including ADSs) have no further economic value.
