Digital 9 Infrastructure shares plummet by 40% as turnaround hopes slump

Credibility 'destroyed'

Valeria Martinez
clock • 3 min read

Digital 9 Infrastructure (DGI9) shares fell by nearly 40% on Thursday (28 September), as shareholder confidence and hopes for the successful turnaround of the troubled trust dwindle.

The share price plunge followed the board scrapping its 6p dividend target for the 2023 financial year and not declare a dividend for the second quarter, due to ongoing liquidity and balance sheet pressures. In light of this, the board said it would begin a formal consultation with its shareholders, starting on 2 October, which would engage on the dividend policy and the future direction of the trust. The trust also said it had made significant progress in the syndication of one of its holdings - Verne Global - with the terms expected to be announced in the fourth quarter of the year....

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