DX (Group) PLC Resumption of trading in DX shares (4743O)

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

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August 21, 2017 02:00 ET (06:00 GMT)