marktime1231
20 Mar 2017
Good Gatemore So it was about time someone shook up DX, over the last 18 months the old team has destroyed value, hopefully this is the start of a recovery. Starting with an EGM maybe within 3 weeks to change the chairman.
Ripley94
01 Mar 2017
Re: Time to get in? Planing Hub approval declined news on share prophets blog .Down 4.25% @ 9p
Topalov
09 Feb 2017
Re: Why Why does it not make sense to suspend dividends? The recent RNS advised that net debt is increasing so the company would presumably need to borrow to pay dividends. As a shareholder I would not want the company to borrow to pay dividends.
kryptes
09 Feb 2017
Re: Good call A while back (9 Oct 14 to be exact) Orchard Gate said that DX was a dog and later called it 'a bargepole share' and repeated his bearish views a number of times. As the shares opened that day at 105p and have since dropped as low as 7p (down 93%) I'd say he was spot on. Again.
marktime1231
08 Feb 2017
Re: Why Thanks and useful insight. Not that we need sympathy just a way to get our money back. I invested in DX. after its share price had already fallen below 20p eg difficult trading already factored in, and while it was a) buying up businesses in Scotland with CMA approval b) cost saving c) developing new ideas. Presumably all schemes endorsed by its bankers and major investors/ I was happy to believe that there is still a market place for legal document exchange, and a sustainable opportunity for a nationwide next day courier of niche valuables in business and consumer markets eg passports (we will all be needing new ones in a couple of years). I was interested in medium term income from good looking cash flow and a possibility of the business developing into something with longer term potential. The demand for secure fast delivery is not shrinking is it!That something has suddenly happened to decimate the value of the business since positive sentiment before Christmas beggars belief. We were being told fibs ?The decision to axe all dividends until goodness knows when does not make sense, unless as has been suggested it was calculated to do what it has done - turn this into a cheap shell which anyone might come along and snap up if they have £25-30M to cover the debt position. A move forced by the bankers or major investors?It feels like someone is about to clean up at our expense.
Twistednik
08 Feb 2017
Re: Why Best outcome in my mind is a trade sale. Put together with a larger business with economies of scale and take out cost. Only way to make this work...
TX2
08 Feb 2017
Re: Gatemore Gatemore are an activist fund;I have come across them as they have a stake in French Connection as do I,theirs is rather larger but as yet they have not had any success in their efforts to make the boss of FC play their game but at least French Connection has considerable and valuable assets in spite of problems in its retail division.Their intention here?No idea....but to date Gatemore have made a huge loss on their original holding in DX.I have looked at DX when Investors Chronicle thought it a buy at around a pound,then when it fell to 35p;then at 20p.I reached the same conclusion at 7p yesterday namely the company simply does not seem a viable business.Make up your own mind......
nk1999
08 Feb 2017
Gatemore Gatemore Capital Management have increased their holding very significantly.Does anyone know who they are and what could be their intention?nk
Ripley94
07 Feb 2017
Re: Time to get in? Steve More .. SP Blog." Uninvestable " IPO'd @ 100 less then 3 years ago.It had strong institutional investor support.Shows how much they know !!
TX2
07 Feb 2017
Re: Why I am sorry to hear of your loss marktime.I commented on this company on 1/03/16 & twice on 13/11/15.I questioned then whether this company was then financially viable;in my second post on 13/11/15 I suggested that DX probably needed to raise £25m new equity capital just to stay in business.DX came to the market as a lashed together business comprising the DX document exchange business,used by solicitors etc to exchange documents to which was added an acquired parcels business which had previously failed.The whole business was loaded with debt both on & off the balance sheet and had sub zero net tangible assets.The original DX document exchange business used to highly profitable;but has gone into rapid decline over the last few years because solicitors are increasingly passing most documents between themselves electronically leaving only a small core business of original deeds and the like to be exchanged.Yet the business has huge fixed overheads,if you are familiar with this business you will understand how these overheads occur.Profit seems to have collapsed and is unlikely to return.The parcels business is hugely competitive DXs is sub scale & under invested.It has never generated enough profit & cash flow to sustain the business let alone pay a dividend.I don't believe the historic figures claimed for profit are realistic.Its position does not appear to have improved.Bluntly DX is in a very bad place financially and has its back up against the wall.It cannot afford to pay any dividend.
sapito
07 Feb 2017
Re: Why To create a buying opportunity?
marktime1231
07 Feb 2017
Why I understand why a board would announce under-performance, they have to.Why would someone announce the indefinite end to dividends, a reason for holding these shares, knowing it would destroy the share price? Taken a huge hit this morning, so I hope someone at DX towers will pay the price.Maintaining even a small dividend from cashflow eg a penny a year, would have sustained the share price.So Why?
TX2
07 Feb 2017
Trading Update Confirms what was generally suspected;namely that DX is not and never has been a viable business as presently financially constructed.I will leave someone else if they exist the opportunity to put up the money that will be needed for the business to survive.......
Ripley94
07 Feb 2017
Re: Time to get in? Down 60% on on Today's RNS."No div's for foreseeable future"
Speculator 73
24 Sep 2016
Time to get in? Have read almost all the important messages on this boardThis now looks a yummy piece to get a chomp off ..... Divi reduced however covered 1.96 ... With a recent spike on Monday I am keeping an eye on this for another week before jumping in may be a median amount of 50K shares before the ex divi date at round about 19.5 - 20.5p can see the median is set currently at 20.9pAny thoughts? Regards
