Ripley94
14 Jul 2017
Re: What does that mean Write up on share prophets site today , the article not as bad as the headline.
marktime1231
14 Jul 2017
What does that mean A very strange announcement from DX this morning in which it talks of flat trading and the removal of the CEO and CFO.Turnover to 30 June 2017 slightly ahead at £292M, earnings "in-line" but with what ... I have no idea what numbers we were expecting! The February warning of a slump in profit was equally opaque on actual numbers. I suggest there has been a loss over the year because net debt has increased by £5-6M "with the support of the bank".Divisional reorganisation was described, as if in anticipation of a merger, but not a mention of Menzies no comment in fact on the grand scheme, and Menzies responded with an equally cryptic announcement.Anyone the wiser?
marktime1231
07 Jul 2017
Re: Police investigation into DX Exchang... That is tremendous news and should mean the merger now proceeds at pace.Time for some positive news about the progress of the deal... and a return to trading. They said Summer, and phew is it definitely Summer.Can't wait to see where this will trade, with people so far plumping for 30-33p in a range 20-80p, where 20p is all the woes and 80p represents full value of a healthy combined business achieving the savings it intended and setting out an attractive dividend policy.Whatever happens I will be holding most of my stock otherwise I will be in CGT territory, so I will be especially interested in what is said about dividends.
sapito
07 Jul 2017
Re: Police investigation into DX Exchang... Good news. But the drop shown on this website is spurious, because the shares are still suspended AFAIK.
Ripley94
07 Jul 2017
Re: Police investigation into DX Exchang... RNS ...Police investigation over and dropped. surprised to see it down 8.5%
deshulme
12 Jun 2017
Re: Police investigation into DX Exchange. DX under investigation by City of London Police __________ __________ __________ __________ The Board of Menzies is considering its position regarding the possible merger of its distribution division with DX. This follows a stock exchange announcement that DX is under investigation by the City of London Police Economic Crime Directorate. An allegation has been made against DX, centred on its DX Exchange operations. The City of London Police Economic Crime Directorate typically investigates issues such as fraud. The investigation is in its early stages and no further information is available at this stage. In a statement, DX said it is co-operating fully with the City of London Police. DX Exchange is a B2B mail and parcel delivery network used primarily in legal, financial and public sectors. It offers pre-9am delivery and post-5pm collection, and is also used as a site-to-site internal mail network. It is made up of more than 4,500 exchanges (including Legal Post) across the UK and Ireland.Earlier this week, DX and Menzies had issued revised terms for the reverse takeover of DX by Menzies Distribution.
TX2
09 Jun 2017
Police investigation into DX Exchange. This is the DX document exchange business where a DX courier collects documents/packages,such as legal papers,house sale contracts,accounts etc in the afternoon from typically lawyers,accountants & other professional businesses who are members of the exchange and passes them on to the recipient party who is also a member,each member has a DX identity number which is put on the package and forms the address .Basically a secure postal service with normally delivery the following morning.DX would not have knowledge of the content of the packages.The service is long established has a very good reputation.Its main problem is that electronic delivery of documents is increasingly taking business and making physical exchange less used.It looks if there is a claim that the exchange system could have being misused for improper purpose quite likely unknown to DX management.
Ripley94
09 Jun 2017
Re: Reverse takeover of DX by Menzies RNS.. Police investigation into DX. .. Menzies have put out one as well. ????
sapito
08 Jun 2017
Re: Revised terms sway Gatemore Gatemore have certainly been able to manipulate the situation to their - and all holders' - advantage, including making a killing on their recent off market purchase, no doubt. I imagine the shares will come off their prolonged suspension when the offer document is finally published.
nk1999
05 Jun 2017
Re: Revised terms sway Gatemore marktime,Are you referring to this [art of RNS:"Alongside the Transaction, John Menzies intends to raise gross proceeds of approximately £30 million by way of a conditional cash placing of new John Menzies shares primarily to institutional investors, the proceeds of which would be retained by John Menzies post completion of the Transaction. "Because my understanding from reading this is that £30m cash raise is by John Menzies, and not by DX, and does not impact DX in anyway.What I don't kow is where is DX getting the £40m that it is planning to pay in cash, and what is the likely value of "new" DX shares following all this transaction?nk
marktime1231
05 Jun 2017
Re: Revised terms sway Gatemore ... no doubt you are all bashing away at the keys of your Casio Scientific's to work out what this means to the suspended share price in DX. Part of the deal includes a £30M institutional placing of a slice of the new shares, but without suggesting a price range which is a shame - but that at least will set the bar when the new shares start trading. If that chunk represents 15% of the share capital of the revised business then ... er ... helpDo our shares get their value restored to the 80p mark?
marktime1231
05 Jun 2017
Revised terms sway Gatemore The terms of the DX - Menzies Distribution deal have been rejigged sufficiently to sway Gatemore. RNS and analyst comments posted in various places. The changes appear to include less cash debt, and renewal of the dividends we all bought DX shares for in the first place. No specific timetable yet, but if Gatemore was the only real hurdle then things should now proceed to shareholder approval meetings.
marktime1231
30 May 2017
Re: Gatemore increase stake in DX from 11% t... Press reports although I can't see the RNS where Gatemore have upped their stake to 21%, but the RNS reports that Fidelity have sold down their stake, what was about a 10% holding? Fidelity were reported to be in favour of the Menzies deal? That is a swing of real significance then.My first reaction was that the Menzies move was good for them and not so obviously good for DX shareholders, but I was persuaded (by your view on how the price will move) that it is a better deal than no deal. Gatemore didn't have a better idea just an objection. If they are going to obstruct the Menzies plan I hope Gatemore have an agreeable alternative in mind.So much for the suspended trading under AIm rules. No one has asked me if I would like to sell my stake at any price.
sapito
25 May 2017
Gatemore increase stake in DX from 11% to 21% So the Menzies deal is less likely (some would say unlikely) to be approved by shareholders.Gatemore obviously see a lot more value in the shares than the 33p post-merger price which I guesstimated.I hope they're right. the way, I wonder what they paid for the 10% they've just acquired.
TX2
15 May 2017
Re: Since it is national flutter day ... A bit late in answering your question regarding the issue of the new DX shares should the take over of the John Menzies Distribution business by DX go ahead.According to the statement made at the time of the RTO proposal 95% of the new DX shares issued will be distributed to shareholders in John Menzies in proportion to their shareholding in John Menzies.The 5% balance will go to John Menzies pension fund.John Menzies will not take any interest in the new DX business.
