Dx (group) Share Discussion Threads

[effortless cool] 04/1/2022 13:03

It's hardly surprising that this suspension relates to a corporate governance issue when corporate governance issues at DX are so readily apparent:
1. The poorly constructed RNS of 25 November announcing the forthcoming suspension, which caused the share price to collapse.
2. Three directors then buying shares, in spite of being the only people in the market who might actually know the underlying issue with the DX audit.
3. Directors apparently reassuring PIs that called them up that the issue was not significant, in spite of this information not being in the public domain.

I bought the dip because of 2 and 3 above, and am comfortable holding through suspension. It's not a share I would want to own long-term, however.

[qs99] 04/1/2022 12:45

Would have expected more "light" on the issue I agree. Pretty poor given months of "knowledge".....

[paulisi] 04/1/2022 08:13

Not even a hint as to when the issue will be resolved.

[stemis] 31/12/2021 16:55

Since 1st & 2nd are the weekend and the 3rd is a bank holiday, suspension will occur on the first day the stock exchange is next open; the 4th.

[stemis] 31/12/2021 12:45

I spoke to the FD (which is pretty unusual for me). Not directly a financial matter and decision not to release accounts was principally driven by audit committee not auditors, relating to an issue which has been known about for a while but which had been believed to have been resolved. It's nothing to do with reviewing previous auditors work or covid delays...

[babbler] 31/12/2021 12:00

always good to get a proper explanation from the horses mouth...

[nigelpm] 31/12/2021 11:49

I just read the RNS - didn't need to call anyone. Was pretty clear to me it wasn't material to the financials and that was good enough for me.

[babbler] 31/12/2021 11:46

yup. And if you called the CEO that day like I did you'd have know that. :)

[nigelpm] 31/12/2021 09:32

someone was offering 500k at 29.5 in the last auction. I dropped out a few that I picked up in the low 20's - amazing to think it was only five weeks back in the teens - possibly one of the opportunities of 2021. A great reason for always keeping some powder dry. Onwards to 2022 it's going to be a decent one I think.

[qs99] 31/12/2021 09:09

Fascinating as full offer now being paid, will we see this break 30p ahead of suspension? Interesting times! DYOR

[qs99] 31/12/2021 08:54

Should they not give an update before the BH and 4th suspension, i.e. today do you think?

[qs99] 31/12/2021 08:50

dummy sell of a decent slug, showing over the bid to get my stock....MMs don't appear to be running scared IMO.....

DYOR

[croasdalelfc] 31/12/2021 08:38

The new auditors wanted to check previous auditors work, as they have been shat upon before when taking on new work. and coupled with Covid delays we have late results etc. Poor by the board esp communication and addressed by Gatemore. I'm relaxed and expect 30-33p in short order

[stemis] 30/12/2021 23:02

Personally I'm fairly relaxed about a suspension because I expect it to be short. I'd speculate that there are buyers trying to get a position before suspension because they expect that when suspension is lifted, on release of the accounts, it'll start substantially higher. Purely my opinion of course.

[marktime1231] 30/12/2021 22:44

So it is insider trading, or a wrestling match between those on the board wanting to put all the cash in to developing the business v. big shareholders wanting a better distribution.

Given what we don't know ... however interesting it is to speculate ... my instinct is to trust the auditors, if they are not happy about something which cannot be resolved after 6 months and are prepared to withhold accounts whatever the consequences, well a reprieve at 11.59 would be pretty murky.

I will continue to sit out until things are made clear, a low enough share price worth taking the risk did not materialise. Good luck to those of you on the hook if shares are suspended and/or there is a significant correction on the way.

[stemis] 30/12/2021 20:45

Yes, that's a pretty strong run from 25p. Unless they are about to announce results tomorrow, it's looks like suspension is looming on the 4th. However someone (or ones) look pretty confident they know there's nothing to worry about. Funnily enough the run seemed to start around the 13th. Did something happen on that date?

[croasdalelfc] 30/12/2021 20:27

1.5m bought

[my retirement fund] 23/12/2021 15:22

A million just snaffled at 28.5p. Someone's in the know!

[qs99] 23/12/2021 14:55

Nearing that 30p, happy days

[qs99] 23/12/2021 14:15

OR at least a clarification RNS to say what the actual issue is, if it is just a timing issue, then look at SAA as an example as to how an oversold share can rocket after a suspension IMO....DYOR

[aishah] 23/12/2021 14:10

Corporate governance/disclosure done by year end? Price quite strong recently

[paulisi] 23/12/2021 14:08

Audited accounts needs to be published by 02/01 or shares are suspended.I assume this is still the case.If this happens by that date, price will jump.

[qs99] 23/12/2021 13:52

well market is liking what it sees IMO....soon be through 30p GLA DYOR

[my retirement fund] 23/12/2021 13:48

clearly something going on behind close doors we dont have privi too looking at price last few day