Hi.
The AIM story of the week is obviously the profit warning and subsequent collapse in the share price of Boohoo.Com (LON:BOO). That topic has been comprehensively covered in Paul's report of 7th Jan here: http://www.stockopedia.com/content/small-cap-value...
So, that leaves me to pick the second most interesting story of the week on AIM, which has to be the ongoing saga at Glasgow football club Rangers International Football Club (LON:RFC).
However, I don't particularly want to pick that either, as Rangers International Football Club (LON:RFC) is a tightly held smallcap. It is also an extremely fast-moving situation there, with ownership changing rapidly. The whole thing could be over, in the form of a recommended takeover, by the end of next week - who knows? So I'm plumping for something a bit less fevered.
AIM Prospector Story of the Week ending 9th Jan is the announcement from DX (Group) (LON:DX.) that it is buying a selection of assets from busted delivery firm City Link.
http://www.investegate.co.uk/dx--group--plc--dx--/...
DX, the leading independent parcels, mail and logistics network operator, announces that it has reached agreement with the Administrators of City Link Limited ("City Link") to acquire certain City Link assets, comprising cages, scanners and certain intellectual property, for a total cash consideration of £1.125m.
Petar Cvetkovic, Chief Executive...
"...The Administrators are now proceeding with an orderly sale of assets and we have made a limited investment to acquire certain assets."
DX (Group) (LON:DX.) came to the market via an IPO in February of last year. The shares have not had a good run since listing. Today, according to Stockopedia, the market cap is £173m. DX is forecast to report £313m of sales for the year-ending June 2014 and deliver a net profit of £23m.
The company must have been communicating pretty firm dividend plans to the analyst community, as 6p payout is forecast for the full year.
At today's price of 89.5p, that puts DX (Group) (LON:DX.) on a P/E for the year of 7.6, with the prospect of a 7.0% yield.
Why is this announcement particularly interesting?
Post and Parcel reports that the assets purchased include…
