Dixon sees his Regus stock plunge
Mark Dixon, chartered accountant, founder and chief executive of Regus, saw his 61% investment in his company drop to half its market value, losing him £280m of a personal fortune estimated at £714m.
Serviced office provider Regus released a statement today warning of a ‘marked slowdown’ in several of its key markets. Beginning in the USA, the trend has spread affecting the UK, the Benelux countries and Germany.
The company’s shares, which was floated last November, fell dramatically to 86p, almost half their original value, after Regus said that its results, before exceptional items, would be ‘around breakeven’ for this year.
Dixon appeared recently at the ICAEW’s 2001 Annual Conference, where he spoke confidently about his company’s performance and how he had founded Regus in 1989 by re-mortgaging his home.
Last week Regus learned the Department of Trade and Industry was likely to investigate share dealings after the FSA has already began examining the short selling of its shares.
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