JANUARY 5, 1998
Danka sinks further
DANKA BUSINESS SYSTEMS, the title sponsor of the Arrows Formula 1 team, continues to experience serious financial difficulties and it is extremely unlikely that the American company will continue to support Tom Walkinshaw's team. The company's shares were worth around $13.20 in August last year but have now plummeted to $3.60 and, just before Christmas, shareholders announced that they are taking legal action in Florida against the company and some of the directors, alleging that statements made about the integration of Danka and the office imaging business of Kodak were false and misleading and artificially inflated the price of shares.
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