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DX (Group) PLC (DXDX.L)

DXDX.L on London Stock Exchange

18 Oct 2017
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Latest Key Developments (Source: Significant Developments)

John Menzies comments on DX statement
Friday, 14 Jul 2017 04:06am EDT 

July 14 (Reuters) - DX (Group) Plc :Response to DX (Group) Plc announcement.Will continue to work with DX to establish impact, if any, of DX's announcement on proposed combination of DX and John Menzies' distribution division.  Full Article

Dx (Group) Plc results for FY ended 30 June 2017 expected to show revenues of about £292 mln
Friday, 14 Jul 2017 02:27am EDT 

July 14 (Reuters) - Dx (Group) Plc :Results for financial year ended 30 june 2017 are expected to show revenues of approximately £292m.Dx (group) plc - net debt at year end expected to stand at £19.1 million.Adjusted profit before tax (before exceptional items) in line with market forecasts.Dx (group) plc - fy earnings before interest tax, depreciation and amortisation will be broadly flat year-on-year.Dx (group) plc - announcing a reorganisation of business to create two divisions: dx express and dx freight.Chief executive officer, petar cvetkovic, and finance director, daljit basi, will be stepping down from board and company as part of reorganisation.Dx - dx express will comprise dx exchange, dx secure, courier operations and mail activities; dx freight will comprise logistics, dx 1-man, dx 2-man.James hayward has been appointed as interim chief financial officer.Dx (group) - dx express will be headed by nick cullen, dx's existing coo and dx freight by stuart godman, who is currently chief commercial officer.Dx - reorganisation expected to provide greater flexibility in managing costs; puts co in better position to advance operational and sales performance.  Full Article

DX says police drop full probe into DX Exchange
Friday, 7 Jul 2017 02:00am EDT 

July 7 (Reuters) - Dx (Group) Plc :Board of dx announces that it has been notified by city of london police economic crime directorate ("city of london police") that, after careful consideration of allegations made, city of london police will not be proceeding to a full investigation.Company co-operated with the City of London Police's preliminary investigation, which centred on the DX Exchange operations, and in addition has reviewed and made changes to internal business processes in this unit, which will be kept under review. .  Full Article

Menzies says considering position after DX probe news
Friday, 9 Jun 2017 03:00am EDT 

June 9 (Reuters) - John Menzies Plc ::Response to DX (Group) Plc announcement.‍Board of John Menzies is considering its position and will make a further announcement as and when appropriate.  Full Article

John Menzies says confident of DX deal completing during summer
Friday, 12 May 2017 02:14am EDT 

May 12 (Reuters) - John Menzies Plc :Says group has had a positive start to year, continuing to make good progress against our strategic objectives..Says at Menzies Aviation, underlying business is performing well with solid revenue growth in period of 12 percent on a constant currency basis..Menzies Distribution overall sales decline of 3.1 percent in first four months of year, against year ago, is broadly in line with forecasts..Says rate of decline within magazine market is sharper than expected..Says proposed deal to combine Menzies Distribution with DX continues to move forward positively..Says remains confident of a conclusion to deal during summer..Source text for Eikon: [ID:].  Full Article

DX confirms top investor Gatemore withdraws EGM requisition
Friday, 7 Apr 2017 08:50am EDT 

DX (Group) Plc : Dx confirms that it has received a further notice on behalf of Gatemore withdrawing this requisition. . Board will continue to progress its discussions with John Menzies over a potential combination with distribution division .Further announcements will be made in due course regarding progress of proposed transaction..  Full Article

DX Group says in talks to merge with John Menzies' distribution unit
Friday, 31 Mar 2017 02:00am EDT 

DX(Group) Plc : Potential combination of DX And John Menzies' distribution division . They are in discussions regarding potential combination of dx and john menzies' distribution division . Boards of dx and john menzies believe that combination has strong strategic logic for all stakeholders . Based on a preliminary joint assessment, boards of dx and john menzies estimate combination would generate cost synergies in range of £8 million to £12 million per annum . It is currently envisaged that transaction would be effected by dx acquiring menzies distribution for consideration, on a cash and debt free basis . Dx (group) - consideration comprising £60 million in cash and issue of new dx ordinary shares representing 80% of dx's issued share capital as enlarged by transaction . Cash consideration will be satisfied by new borrowings by enlarged group . As part of transaction, it is proposed that approximately 17% of john menzies' defined benefit pension scheme would transfer to enlarged group . Enlarged group would comprise a new chairman and new independent non-executive directors . Dx (group) - greg michael and paul mccourt, currently managing director and finance director, respectively, of menzies distribution, would become group ceo and cfo of dx . Daljit basi, currently finance director of dx, will become an executive director. . Anticipate transaction will be completed during summer of 2017..  Full Article

DX (Group) Pc announces new contract win
Wednesday, 29 Mar 2017 02:00am EDT 

DX (Group) Plc : Has won a major contract worth in excess of 10 mln pounds per annum providing bespoke logistic services for Avon UK .Contract is for an initial 3-year term.  Full Article

DX Group says provisionally awarded passport office contract in UK
Tuesday, 22 Nov 2016 02:00am EST 

DX Group Plc : DX Group Plc- HMPO contract and trading update . Notified that co has been provisionally awarded contract contract with Her Majesty's passport office, subject to finalisation .Contract is for an initial two year period and may be extended by up to two years.  Full Article

DX Group says CFO to step down
Thursday, 14 Jul 2016 04:14am EDT 

Dx (Group) Plc : Trading for year ended 30 June 2016 is in line with management expectations, following a satisfactory second half . Regarding its contract with HMPO, company is pleased to confirm that tender process is now underway with outcome expected by October .Ian Pain, chief financial officer, has decided to step down from his role and board to pursue new opportunities.  Full Article

BRIEF-DX, John Menzies ‍boards announce agreed revised terms of transaction​

* ‍update on proposed combination of DX and John Menzies' distribution division​