Managing director gets £2m

DCC has made a £2 million sterling payment to the managing director of Days Medical Aids, Mr John Dalton.

The payment is the part of the deferred consideration which was due, under the terms of DCC's takeover of the Brigend based manufacturer of rehabilitation and mobility products in November 1995. It is related to DMA's audited profits after tax for the year to end March.

Under the terms of DCC's takeover of DMA, Mr Dalton was entitled to 1.0526 times audited post tax profits in the years to end March 1997, 1998 and 1999. Two further deferred payments will be due in 1998 and 1999. These payments have been capped at £3.17 million sterling in 1998 and £3.99 million sterling in 1999.