PDMR Shareholding, Issue of Equity and TVR
17/11/2022 16:46
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RNS Number : 8224G DX (Group) PLC 17 November 2022
AIM: DX.
DX (Group) plc
("DX", the "Company" or the "Group")
Director/PDMR Shareholding, Issue of Equity and
Total Voting Rights
DX, the provider of delivery solutions, including parcel freight, secure
courier and logistics services, announces that on 15 November 2022 it received
a notification of exercise from Paul Ibbetson, DX Freight Managing Director
and a person discharging managerial responsibility of the Company ("PDMR"), in
relation to 6,649,754 share options ("Options") over ordinary shares of 1p
each in the Company ("Ordinary Shares") at an exercise price of 1.0 pence (the
"Exercise") pursuant to the Company's Performance Share Plan 2017 (the "PSP").
The Company has determined to reduce the number of Ordinary Shares to be
issued in respect of the Exercise equal to the tax liability that arises in
connection with the Exercise ("Net Settlement"). The Exercise becomes an
entitlement to receive a reduced number of Ordinary Shares (the "Adjusted
Award") and a cash amount (the "Cash Amount") equal to the value of the number
of Ordinary Shares by which the Options are reduced. The Company will then
ensure that the Cash Amount is paid directly to HMRC to discharge the tax
liability that arises as a result of the Exercise (with any surplus cash being
returned to Paul Ibbetson). Accordingly, Paul Ibbetson will receive 3,398,499
Ordinary Shares as the Adjusted Award and £910,351 as the Cash Amount.
Following the Exercise, Paul Ibbetson has a total beneficial shareholding of
3,887,541 Ordinary Shares, representing approximately 0.67% of the Company's
enlarged issued share capital.
The notification below, which has been made in accordance with the
requirements of the Market Abuse Regulation, provides further detail.
Issue of Equity
In addition to Paul Ibbetson, notifications of exercise have been received in
relation to 7,584,888 Options from 24 other participants in the PSP.
Accordingly, following Net Settlement of these Options, application has been
made for a total of 7,071,649 new Ordinary Shares to be issued to be admitted
to trading on AIM ("Admission"). Admission is expected to occur at 8.00 a.m.
on or around 23 November 2022.
The new Ordinary Shares will rank pari passu with the existing shares of the
Company. Following Admission, the Company's issued share capital consists of
580,753,441 Ordinary Shares, each with voting rights. Accordingly, the figure
of 580,753,441 may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in the Company under the FCA's
Disclosure Guidance and Transparency Rules.
Following the Exercise, there are options outstanding over 74,877,770 Ordinary
Shares, representing 12.9% of the Company's enlarged issued share capital.
Enquiries:
DX (Group) plc
www.dxdelivery.com
Jon Kempster, Non-executive Director T: 020 3178 6378
David Mulligan, Chief Financial Officer (c/o KTZ Communications)
finnCap (Nominated Advisor and Joint Broker to DX) T: 020 7220 0500
Matt Goode/Simon Hicks (Corporate Finance)
Andrew Burdis/Charlotte Sutcliffe (Corporate Broking)
Liberum (Joint Broker to DX) T: 020 3100 2000
Nick How/William Hall
KTZ Communications T: 020 3178 6378
Katie Tzouliadis/ Dan Mahoney
About DX (Group) plc:
DX is a well-established provider of a wide range of delivery services to both
business and residential addresses across the UK and Ireland. First
established in 1975 as a Document Exchange service to the legal sector, DX now
provides one of the widest ranges of overnight delivery services in the
market, as well as logistics services. Items that DX transports range from
confidential documents and valuable packages to large, awkward-to-handle
freight, unsuitable for automated conveyor.
DX Freight: comprises DX 1-Man, DX 2-Man and Logistics. The Division
specialises in the delivery of irregular dimension and weight freight
("IDW").
DX Express: comprises DX Parcels and DX Exchange and Mail. The Division
specialises in the express delivery of parcels and documents.
Notification and public disclosure of transactions by persons discharging
managerial responsibilities and persons closely associated with them
1. Details of the person discharging managerial responsibilities/person closely
associated
a) Name: Paul Ibbetson
2. Reason for the notification
a) Position/status: DX Freight Managing Director
PDMR
b) Initial notification/Amendment: Initial Notification
3. Details of the issuer, emission allowance market participant, auction
platform, auctioneer or auction monitor
a) Name: DX (Group) plc
b) LEI: 213800LA2YGSOFIYIH95
4. Details of the transaction(s): section to be repeated for (i) each type of
instrument; (ii) each type of transaction; (iii) each date; and (iv) each
place where transactions have been conducted
a) Description of the financial instrument, type of instrument: Options over Ordinary Shares of 1p
Identification code: GB00BJTCG679
b) Nature of the transaction: Exercise of 6,649,754 Options over Ordinary Shares
c) Price(s) and volume(s): Net settled for cash:
Price(s) pence Volume(s)
28.00 3,251,255
Issue of equity:
Price(s) pence Volume(s)
1.00 3,398,499
d) Aggregated information: See 4 (c) above
· Aggregated volume:
· Price:
e) Date of the transaction: 15 November 2022
f) Place of the transaction: Off market transaction
Issue of equity:
Price(s) pence Volume(s)
1.00 3,398,499
d)
Aggregated information:
· Aggregated volume:
· Price:
See 4 (c) above
e)
Date of the transaction:
15 November 2022
f)
Place of the transaction:
Off market transaction
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