Update re Corporate Governance Inquiry
Updated : 07:00
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 Lloyd Dunn, Chief Executive Officer David Mulligan, Chief Financial Officer | T: 020 3178 6378 (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 | |
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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