Dx (group) Share Discussion Threads

[marktime1231] 19/10/2022 20:48

What price would I invest again? When we have audited full year accounts from a board which includes a reputable Chairman, CEO and non-execs we can trust and a committed ex-div date for 1.5p, well last time I gambled at 19p. Until then not above 10p, or never.

[qs99] 19/10/2022 20:33

OK marktime, explain the current results please and how you see this valued? Or are the figures made up (despite being a new credible auditor)? Gatemore sent director in to help resolve things, job done move on, they are not an active (i.e. board seats) sort of investor are they.

[marktime1231] 19/10/2022 20:24

No surprise a huge offload, down under 20p first thing, someone sold off nearly £1M in one go. Wonder if there was organised buying to get it back to 24p and hold it there. Lots of corporate-sized trades. The rns disclosures to follow.

Presumably the nothing-to-really-worry-about gang grabbing a bargain this morning. Ron Series the exec Chairman who oversaw the shambles somehow still running the show, dangling a future dividend of the sort we used to get 6 years ago. Was he a buyer today to impress those open to persuasion?

Implausible that Gatemore have willingly given up their board seat because they are now happy to be arms length, if they intend to keep a 20% stake surely they should want to stay in the boardroom and participate in things like discussing dividends, choosing a new CEO etc.

[qs99] 19/10/2022 16:22

Indeed mate, agreed, now being walked up at the end of the day by MMs, wonder if IR team / Board will get this tipped in a few places given broker TP and current trading! DYOR

[stemis] 19/10/2022 16:18

There will be stale holders that just want out and these need to be worked through before share price reflects trading

[qs99] 19/10/2022 16:09

Its been suspended for nearly a year, I'm not surprised many want to just sell to get cash, but nuts IMO given trading update and EV/EBITDA levels and promise of yield into 2023. DYOR

[nigelpm] 19/10/2022 15:44

I'm not going to deny I'm slightly surprised at weakness - had expected the initial fall but given trading statements and other the business has fundamentally improved since suspension started.

[lookagain] 19/10/2022 15:10

MarkTime From HY accounts : progressive dividend policy to commence in FY 2023; with dividends expected to amount to 1.5p per ordinary share for the year, paid approximately on a one-third: two thirds basis

[qs99] 19/10/2022 13:27

And they talked of a share buy-back....

[qs99] 19/10/2022 13:26

Worthwhile remembering the half year results:

Net cash c.£15m

EBITDA c.£19.4m

"significantly ahead" statement.

So c.£40m EBITDA for full year do we think? With Net cash improved?

Market cap c.£140m so could be soon EV/EBITDA of UNDER 3.....with yield.

Sitting target IMO.....

DYOR

[qs99] 19/10/2022 13:24

Well said SteMiS

[solarno lopez] 19/10/2022 12:58

Spot on SteMIS

[stemis] 19/10/2022 12:53

At the end of the day, we now have the listing restored, the company hasn't been subject to a fraud, hasn't been 'stolen' in a cheap buyout, business hasn't collapsed (in fact, the very reverse) and the dividend is about to be restored. Must be very disappointing for the purveyors of doom...

[nigelpm] 19/10/2022 12:43

yes, going to be lots of "Holdings in company" over the next few weeks!

[marktime1231] 19/10/2022 12:04

Waiting for an rns to say sacked CEO Dunn has increased his stake to xx% or resigned major shareholder Gatemore has dumped yy%. Liberum under the whip from acting exec Chairman pumping this on hopeful dividend outlook. At this rate he will be the only one left in the boardroom.

[nigelpm] 19/10/2022 10:47

buyback in place also?

[qs99] 19/10/2022 10:40

thanks all

That sort of yield, if seen as sustainable, will attract p/e firms IMO if the shares stay around this level, hence I have topped up....DYOR and in the meantime I'll take the divi!

Cheers
QS99

[my retirement fund] 19/10/2022 10:36

Surprised its not fallen further, presumably the broker pulled out all the stops to aliviate the carnage. Looks like they even did some large behind the scenes premarket deals in advance of things looking at some of the early 20p prints to aid it.One things for sure, they have a decent housebroker.

[someuwin] 19/10/2022 08:49

Liberum forecasting a 1.5p dividend for YE 2023 and 1.7p for YE 2024.

Puts yield at current 23.5p = 6.6% rising to 7.2%.

[someuwin] 19/10/2022 08:35

Liberum...

DX Attractive fundamentals, resilient trading

We expect significant share price volatility as trading in DX’s shares resumes after a nine-month suspension. Underlying trading in the business itself has been strong, despite wobbles in online retail, higher fuel prices and industry-wide driver shortages. We expect the business to remain resilient in the face of more challenging economic conditions, with significant medium-term margin upside. We resume coverage with a BUY recommendation and 45p DCF-based target price (previously Under Review, due to the shares being suspended)...

[solarno lopez] 19/10/2022 08:33

That’s exactly what I was told the team don’t start until 9 am. Pretty poor performance for a so called premier broker

[qs99] 19/10/2022 08:32

That is v v poor of AJ bell don’t they know when markets open Ffs?!

[nigelpm] 19/10/2022 08:32

Anyone who can buy here will do well. Particularly as seemingly there are a lot of buyers who can't buy!

[timbarker] 19/10/2022 08:30

Just rang AJ Bell and the "team" that take off the restriction on dealing isn't in until 0900 hours so they can't do anything! Useless.

[markie7] 19/10/2022 08:29

Got a few more at 22. Needs to calm down then value will be clear. Yield at this price must be c7-8%