REG - DX (Group) PLC - Update re Corporate Governance Inquiry

DX (Group)Announcement

05/07/2022 07:00

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RNS Number : 2865R  DX (Group) PLC  05 July 2022

AIM: DX.

DX (Group) plc

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

 

Update re Corporate Governance Inquiry

On 25 November 2021, DX's Audit and Risk Committee ("ARCo") raised a corporate
governance inquiry (the "Inquiry") into an internal investigation (the
"Investigation") that had commenced in October 2020.

 

Further to the announcement of 4 February 2022 regarding the resignation of
Grant Thornton, which had voiced its concerns regarding the progress of the
Inquiry and Investigation at that time, the initial findings of the Inquiry
and Investigation have now been reported to the Board. Having considered these
findings and discussed them with the Company's Nominated Advisor, the Board
has resolved to undertake some further work.

 

The Board expects this further work and the recently commenced audit of the
Company's report and accounts for the financial period ended 3 July 2021 to be
completed by 30 September 2022.  Trading in the Company's shares will remain
suspended, with further updates to be made in due course.

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the company's obligations under Article 17 of
MAR.

 

Enquiries:

 DX (Group) plc

 www.dxdelivery.com
 Ron Series, Chairman                                      T: 020 3178 6378

 Lloyd Dunn, Chief Executive Officer                       (c/o KTZ Communications)

 David Mulligan, Chief Financial Officer

 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
 Robert Morton/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.

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