Information  X 
Enter a valid email address

DX (Group) PLC (DX.)

  Print   

Thursday 09 December, 2021

DX (Group) PLC

Proposed Board Appointment

RNS Number : 0545V
DX (Group) PLC
09 December 2021
 

AIM: DX.

DX (Group) plc

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

 

Proposed Board Appointment

 

DX, the provider of delivery solutions, including parcel freight, secure courier and logistics services, is pleased to announce the proposed appointment of an additional non-executive director.

 

The Board has been in constructive dialogue with Gatemore Capital Management LLP ("Gatemore"), a significant shareholder in the Company. This follows the announcement made on 25 November 2021 ('Update regarding the Publication of the Annual Report & Accounts and AGM') and receipt of a letter from Gatemore, dated 29 November 2021. 

 

In particular, the Board has considered Gatemore's request that Mr. Liad Meidar, Managing Partner of Gatemore, be appointed to the Board, and is now pleased to confirm its intention to appoint Mr. Meidar as a non-executive director. The appointment is expected to be made subject to satisfactory completion of the regulatory due diligence and other processes currently under way, which are required by the AIM Rules. Biographical details on Mr. Meidar are below.  A further announcement will be made in due course.

 

Ron Series, Chairman of DX (Group) plc, commented,

 

"We are pleased to announce the proposed appointment of Liad to the Board as a non-executive director. Gatemore has been a staunch supporter as we have completed the turnaround of DX from a position of near collapse to profitability and cash generation. The Company is now entering an exciting new phase of development, focused on market share expansion and margin growth. We look forward to Liad's input to our strategic growth plans as a Board member." 

 

Liad Meidar, Managing Partner, Gatemore Capital Management LLP, commented,

 

"I am delighted that the Board intends to appoint me as a non-executive director. The Company's management represents one of the leading overnight freight and parcels teams in the country and, since 2017, has successfully executed an outstanding turnaround. DX is now facing tremendous growth opportunities. As a major shareholder, I remain an enthusiastic supporter, and am committed to assisting the Company through the current situation to the benefit of all shareholders."

 

Biographical details on Mr. Liad Meidar

Mr. Liad Meidar is Co-founder and Managing Partner of Gatemore Capital Management LLP, an investment firm managing an activist strategy focused on turnarounds, recoveries, and growth opportunities across both public and private markets.

Prior to forming Gatemore in 2005, Liad had a background in both finance and operations, including running a Seattle-based technology incubator. Liad began his career in New York in leveraged finance at BT Alex Brown, the investment banking division of Bankers Trust. Liad has extensive experience as a board member of companies undergoing turnarounds, including Jazz Technologies, a publicly-traded semiconductor wafer foundry based in Newport, California, and MAG Industrial Automation Systems, a privately-held global machine tool builder with dual headquarters in Michigan and Germany.

Liad is a board member of three Gatemore portfolio companies: GSE Worldwide, Inc., a fully integrated talent management and sports agency where he is Chairman; Factorial, Inc., developer of a breakthrough solid-state, lithium-ion battery technology; and SurvivorNet, Inc., an online health media company. Liad also serves on the Dean's Advisory Council at Princeton University and on the Board of Trustees of the American School in London.

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
BOATPBJTMTTMTPB

a d v e r t i s e m e n t