Dx (group) Share Discussion Threads

[nigelpm] 19/10/2022 07:06

No-one seems to - not just your broker.

[qs99] 19/10/2022 07:04

My stockbrokers are useless just to be clear....their online platform hasn't even got DX relisted to be able to trade yet...

[nigelpm] 19/10/2022 07:02

20p - no massive surprise.

[solarno lopez] 19/10/2022 06:53

The last set of results were excellent

[nigelpm] 19/10/2022 06:49

Spread 22 - 25 currently.

[everton448] 19/10/2022 06:48

Liberum out of the blocks early this morning with a buy recommendation and a 45p target

[everton448] 19/10/2022 06:26

Yes - bit harsh given that he's toughed it out through what must have been a pretty uncomfortable 12 months for the non-execs; but then Liad Meidar didn't get a word of thanks either

[nigelpm] 19/10/2022 06:25

Volatile!!

[fenners66] 19/10/2022 06:17

Is this new ?

"DX also announces that Non-executive Director, Mr. Russell Black, leaves the Board and the Company today"

If that is the first (and last?) announcement of a director leaving , without a thanks etc. that does not read well for him.

[everton448] 19/10/2022 06:08

Predictions for opening!

[qs99] 13/10/2022 13:06

Thanks SteMiS good post and agree. Him leaving therefore should be a big positive then. DYOR

[stemis] 13/10/2022 07:40

Here's the original letter from Gatemore, seeking Meidar's appointment

hxxps://www.prnewswire.com/news-releases/letter-from-gatemore-capital-management-llp-to-dx-group-plc-301432615.html

Today, we respectfully request that Liad Meidar, Managing Partner of Gatemore Capital Management, be appointed immediately to the DX Board in order to better understand the underlying issues, promote improved governance standards and investor communications, and seek ways to achieve full value for shareholders, including through exploring strategic alternatives.

The governance issue has been resolved, the company is on the road to improving governance standards and the strategic review has been issued. Meidar isn't a director of any other company Gatemore are invested in and I imagine he has plenty to do other than deal with operational oversight in DX.

Personally I think it's a good thing. I was always a little wary of Meidar being on the 'inside' as I set out below...

SteMiS - 09 Dec 2021 - 10:36:25 - 2523 of 2899 DX Group - Postal services - DX.
Except until we know what the matter is that caused the announcement it's impossible to say whether it was poorly announced or whether they literally had no choice as to what they could say. One thing for sure is that Meidar isn't there to look after our interests; it's to look after Gatemore's...and the two 'may' not be the same.

[qs99] 13/10/2022 06:30

hope that is the case indeed.

[nigelpm] 13/10/2022 06:28

Uneventful. Done his job so moving on.

[qs99] 12/10/2022 17:48

OR maybe his job is just "done" so time to move on?

Either way, would have been nice to have got a more detailed RNS it is v. "clunky" to say the least with so little said!

[qs99] 12/10/2022 17:00

OK so why would the Gatemore director resign now as an NED?

It's a bland statement. No frills which is not filling me with joy. Leaves next week.

So is that when the re-listing happens and he is taking himself "off-side" from the Board in some way? Why would that be? Will Gatemore make a bid of work with someone else and so being an NED doesn't help?

I can't see why he would be resigning for "bad" reasons as they have just released a bunch of RNSs all positive and good broker note?

Views?

DYOR

[qs99] 08/10/2022 12:36

Looks v. good. Let's hope a precursor to a listing

[triktrak] 06/10/2022 09:55

Thanks Stemis for the note. Sounds very encouraging.

[stemis] 06/10/2022 08:27

New research note from FinnCap. Adjusted EPS of 2.8p for y/e 30.6.2022, 3.4p for 2023 and 4.0p for 2024. Dividend of 15.p for 2023 and 1.7p for 2024. Net cash £27m 2022, £40.6m 2023 and £54.5m 2024.

Based on suspended share price of 30p that would be a 2024 P/E of 7.5 (or cash adjusted of 5.1) and yield of 5.7%.

FinnCap's target price is 57p and their comment is:-

DX Freight has continued to make strong progress driven by continued market share gains backed by strong service levels and price rises offsetting cost pressures. DX Express has returned to sales and profit growth, supported by the successful expansion of Parcels. The Corporate Governance inquiry and investigation has been concluded and improvements made but, importantly, it has clearly not affected short-term trading and we expect the high service levels and investment into sites, equipment and IT to drive strong growth into the long term.

[babbler] 05/10/2022 07:20

more news and still nothing on relist. Maybe they forgot...

[croasdalelfc] 28/9/2022 16:19

That dividend is chunky - £8.5m in a year plus buybacks . Perhaps a total of £10m a year into a recession. That is a confident board or a foolhardy one.

[knowing] 28/9/2022 15:01

Good results, shame it's not currently trading.

All divisions showing growth
Expansion
Dividend

Should be back with a bang.

[stemis] 28/9/2022 14:44

True...lol

[nigelpm] 28/9/2022 13:37

Quite Stemis - I remember some quite vocal debates on twitter over this - you and I were closely aligned (we often aren't!) on this particular one.