Resumption of trading in DX shares

RNS Number : 4743O

DX (Group) PLC

21 August 2017

 

The information contained in this announcement is inside information for the purposes of article 7 of Regulation 596/2014.

21 August 2017

AIM: DX.

DX (Group) plc

("DX" or "the Company")

Resumption of Trading in DX Ordinary Shares

DX announces that the resumption of trading in the Company's Ordinary Shares of £0.01 each ("the Shares") will take effect from 07:30 today, 21 August 2017.  The suspension of the Shares followed a request from DX pending the outcome of discussions with the Board of John Menzies plc to combine DX with John Menzies' Distribution division in a transaction that would have represented a reverse takeover by DX under the AIM Rules (the "Transaction").  

Following the announcement of 14 August, reporting that discussions had concluded without suitable terms for both sides being agreed, the DX Board is now pursuing business transformation on a stand-alone basis.  As stated in the announcement, this approach has the support of both DX's major shareholder and its bankers, and discussions on financing options continue.

The Company's full year results for the year ended 30 June 2017 are currently expected to be announced in early Q4. They will include the aborted costs of the Transaction and certain other expected non-recurring exceptional items, principally a non-cash goodwill impairment following a review in accordance with the requirement of IAS 36 'Impairment of assets'.  

The Company continues its discussions with Ron Series on his anticipated appointment as Chairman and it is expected that this appointment will be confirmed in the near term.  The appointments to the board of Messrs Black, Dunn and Goodson are expected to follow shortly after that of Ron Series.  Further announcements will made in due course as appropriate.

Enquiries:

DX (Group) plc
Bob Holt, Chairman		M: 07778 798816
Zeus Capital (Financial Adviser and Nominated Adviser to DX)		T: 020 3829 5000
Nick How, Giles Balleny (Corporate Finance)
Dominic King (Corporate Broking)
KTZ Communications		T: 020 3178 6378
Katie Tzouliadis
Irene Bermont-Penn
Emma Pearson

 

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