DX (Group) PLC Resumption of trading in DX shares (4743O)
August 21 2017 - 1:00AM
UK Regulatory
TIDMDX.
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 GBP0.01 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 T: 020 3829
and Nominated Adviser to DX) 5000
Nick How, Giles Balleny (Corporate
Finance)
Dominic King (Corporate Broking)
KTZ Communications T: 020 3178
6378
Katie Tzouliadis
Irene Bermont-Penn
Emma Pearson
This information is provided by RNS
The company news service from the London Stock Exchange
END
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