Acquisition of certain assets from City Link

RNS Number : 3320B

DX (Group) PLC

06 January 2015

 



AIM: DX

DX (Group) plc

("DX")

Leading independent parcels, mail and logistics operator

DX acquires certain assets from City Link (In Administration)

DX, the leading independent parcels, mail and logistics network operator, announces that it has reached agreement with the Administrators of City Link Limited ("City Link") to acquire certain City Link assets, comprising cages, scanners and certain intellectual property, for a total cash consideration of £1.125m. 

Petar Cvetkovic, Chief Executive of DX, said:

"It is very sad that City Link has been unable to continue as a going concern, particularly for its employees and contractors. The Administrators are now proceeding with an orderly sale of assets and we have made a limited investment to acquire certain assets. 

We are also doing all we can to provide opportunities for former City Link employees and contractors and to offer solutions to Customers who may need a new carrier."  

Enquiries:

DX (Group) plc
Petar Cvetkovic, Chief Executive	T: 01753 631624
Ian Pain, Chief Financial Officer	T: 01753 631508
Zeus Capital (Nominated Advisor and Broker)	T: 020 7533 7727
Dan Bate / John Goold / Dominic King
KTZ Communications	T: 020 3178 6378
Katie Tzouliadis / Deborah Walter

About DX

www.thedx.co.uk

Established in 1975 and based in Iver, Buckinghamshire, DX is a leading independent logistics and parcel distribution company.  It operates throughout the UK and Ireland, delivering c. 170 million items a year. 

The Company offers an unrivalled range of services, providing next day delivery services for mail, parcels and 2-Man deliveries to business and residential addresses.  In particular, DX specialises in next day or scheduled delivery of time-sensitive, mission critical and high value items.

Its customers are mainly commercial organisations but also include public sector companies and national and local governmental organisations.

 

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