Review of Growth Strategy and Capital Allocation

RNS Number : 2702W

DX (Group) PLC

21 December 2021

 

AIM: DX.

DX (Group) plc

("DX" or "the Group" or "the Company")

Review of Growth Strategy & Capital Allocation

DX, the provider of delivery solutions, including parcel freight, secure courier and logistics services, is pleased to announce that the Board is commencing a wider review of the Group's growth strategy and capital allocation policy.

This review will build on the Group's existing investment plans, outlined in its preliminary results announcement made on 8 November 2021, which reported the launch of a three year £20-£25 million capital investment programme and focus on M&A opportunities. The review will consider the Group's total shareholder returns and capital allocation policy, including dividend policy and share-buy backs, and will only be capable of being concluded once the Group has published its 2021 audited Annual Report and Accounts. The review will be led by Liad Meidar, recently appointed as a Non-executive Director, and will help to ensure that the Group's resources are allocated to deliver optimal returns for shareholders.

Ron Series, Chairman of DX (Group) plc, said:

"The commencement of this review, led by Liad, is intended to ensure that we are in the best position to take full advantage of all opportunities available to the Group with the aim of maximising shareholder returns over the medium term. We continue to seek ways to develop DX post its turnaround success."

Enquiries:

DX (Group) plc		www.dxdelivery.com
Ron Series, Chairman		T: 020 3178 6378
Lloyd Dunn, Chief Executive Officer David Mulligan, Chief Financial Officer		(c/o KTZ Communications)
finnCap (Nominated Advisor and Joint Broker to DX)		T: 020 7220 0500
Matt Goode/Simon Hicks (Corporate Finance) Andrew Burdis/Charlotte Sutcliffe (Corporate Broking)
Liberum (Joint Broker to DX)		T: 020 3100 2000
Robert Morton/Nick How/William Hall
KTZ Communications		T: 020 3178 6378
Katie Tzouliadis/Dan Mahoney

About DX (Group) plc:

DX is a well-established provider of a wide range of delivery services to both business and residential addresses across the UK and Ireland. First established in 1975 as a Document Exchange service to the legal sector, DX now provides one of the widest ranges of overnight delivery services in the market, as well as logistics services. Items that DX transports range from confidential documents and valuable packages to large, awkward-to-handle freight, unsuitable for automated conveyor.

DX Freight: comprises DX 1-Man, DX 2-Man and Logistics. The Division specialises in the delivery of irregular dimension and weight freight ("IDW").

DX Express: comprises DX Parcels and DX Exchange and Mail.  The Division specialises in the express delivery of parcels and documents.

 

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