Re: CMA Review - Revocation of Enforcement Order

RNS Number : 0017K

DX (Group) PLC

16 September 2016

 

16 September 2016

AIM: DX.

This announcement contains inside information.

DX (Group) plc

("DX" or "the Company")

Re: UK Competition and Market Authority's review

Revocation of the Initial Enforcement Order

DX, an independent parcels, mail and logistics operator, announced on 5 July 2016 that the UK Competition and Markets Authority ("the CMA") had initiated a review of the Company's acquisition of the trade and assets of The Legal Post (Scotland) Limited and First Post Limited (together "the Transaction") and that, accordingly, the CMA had served an Initial Enforcement Order under section 72(2) of the Enterprise Act 2002.  

The CMA has confirmed that it is continuing to conduct its assessment of the Transaction and has not yet taken a decision as to whether the Transaction has or may be expected to result in a substantial lessening of competition.  Nevertheless, based on the evidence it has received in its assessment of the Transaction to date, the CMA considers that it is appropriate to revoke the Initial Enforcement Order.

DX will now continue with the combination of the acquired trade and assets with the Company's existing operations in Scotland so as to deliver the customer service enhancements and anticipated cost savings as planned.

DX will continue to provide full assistance to the CMA.

Enquiries:

DX (Group) plc
Bob Holt, Chairman		M: 07778 798816
Petar Cvetkovic, Chief Executive		T: 01753 631 624
Ian Pain, Chief Financial Officer
Zeus Capital (Nominated Advisor and Joint Broker)		T: 020 3829 5000
Nick How, Dominic King
Numis Securities (Joint Broker)		T: 020 7260 1314
Stuart Skinner, Toby Adcock
KTZ Communications		T: 020 3178 6378
Katie Tzouliadis, Viktoria Langley, Emma Pearson

 

END

 

 

MSCAKPDPABKDOCD