REG - DX (Group) PLC - AGM Statement

DX (Group)Announcement

23/11/2023 07:00

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RNS Number : 3898U  DX (Group) PLC  23 November 2023

AIM:DX.

DX (Group) plc

("DX", "the Company" or "the Group")

 

AGM Statement

 

DX, a leading provider of delivery solutions, including parcel freight,
secure, courier, 2-Man and logistics services, will be holding its Annual
General Meeting today at 11.00 a.m., and Chairman, Mark Hammond, will make the
following statement on current trading:

"As shareholders are aware, on 16 November, the Boards of DX and Transit Bidco
Limited, an indirect, wholly-owned subsidiary of funds advised or managed by
H.I.G. Capital LLC or its affiliates, as advised or subadvised by H.I.G.
European Capital Partners LLP ("H.I.G."), reported that they had reached
agreement on the terms of a recommended full cash offer by H.I.G. for the
entire issued and to be issued share capital of DX.  Details of this
recommended offer are now with shareholders for consideration.

"Turning to the Company's current trading performance, as announced on 3
October, when the Group reported its final results, the business secured
strong levels of new business in the first quarter of the new financial year
and has a good pipeline of further opportunities. Overall trading since then
has continued to be in line with management expectations. In addition, DX has
made very good progress operationally with its investment plans, including a
significant number of new site openings, in line with its strategic
objectives.

"While the current economic headwinds point to some softening of
consumer-orientated volumes, the Board continues to remain encouraged about
growth prospects, supported by its consistent high service level offering and
the commercial opportunities available."

 

Enquiries:

 DX (Group) plc                                        T: 020 3178 6378 (c/o KTZ
 Paul Ibbetson, Chief Executive Officer                Communications)
 David Mulligan, Chief Financial Officer

 Liberum (Nominated Adviser and Joint Broker to DX)    T: 020 3100 2000
 Nick How

 Panmure Gordon (UK) Limited (Joint Broker to DX)      T: 020 7886 2500
 Tom Scrivens/ Sam Elder (Corporate Broking)

 KTZ Communications                                    T: 020 3178 6378
 Katie Tzouliadis/Robert Morton

 

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.

 

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