The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Pleasing RNS given the shenanigans we've had to endure, although I did wonder if another curve ball was heading our way. After all it is DX...
The interim dividend was the icing.
Unsurprisingly, a surge of trades this morning.
GLA !!!
It would seem the case, if you pardon the pun, here ATPM.
The costs incurred in relation to the CG matter are already in the public domain, and any compensation package to Tuffnells would no doubt have also been factored in somewhere along the line as you have already alluded to ATPM.
Whilst I'm fed up of continuing to write "onwards and upwards", I remain 'quietly' confident about news of any dividends and the interim results.
Sister, below is an excerpt from the BBC News website;
"The Sunday Times reported that a Tufnells traffic clerk was asked to leak confidential corporate information by a DX Group employee in exchange for a £50 payment from a delivery driver in October 2020.
The newspaper reported the legal case, filed last week, alleged three DX Group staff, who were all former employees of Tuffnells, had conspired to obtain daily customer service reports.
High Court papers seen by the BBC confirmed the claim by Tufnell Parcels Express against DX Network Services Ltd, DX Group, employees Tom Middlewood, Jim Sinden and Joe Trappitt.
Tufnells said in the papers it was seeking damages as well as other costs."
Ports, industrial espionage or a 50 quid bung, call it whatever you want, is simply the height of "ineptitude" and a disregard for propriety.
Just another day...
Onwards & upwards.
Notwithstanding the reputational impact and indelible scarring of Tuffnel-gate, the potential financial penalty of this pathetic fiasco, in real terms, could amount to around 2% of the market valuation of DX.
No doubt industrial espionage occurs, and it is completely unacceptable.
However, the difference is that DX got caught with it's hand in the cookie jar, and over 50 friggin quid.
"Robust" defbec or not, there will be a massive financial penalty in terms of compensation.
There's drama and there's DX.
Almost 10M shares bought in 3 tranches over the past few days, speculation about a "consortium", talk of a dividend, "pregnant silence" in relation to the appointment of a CEO to a growing and financially sound business with an anticipated trading update due imminently, etc etc
What can we expect next?!
Notwithstanding the above, I'm enjoying the northward movement of the SP.
GLA and keep those posts coming.
Hear Hear and happy holidays to all.
I will be most certainly enjoying my vegan xmas dinner far more this year!
Thank you for your valued insight. Much obliged Ports. ??
May I please throw this open to the floor.
I reiterate, I have always had faith in DX Group as a business even if those at the helm, unbelievably, breached the trust and confidence placed in them.
I also continue to come across pie in the sky forecasts about the SP rocketing but have learned to take these with a 'bag' of a salt.
Notwithstanding the above and now that the CG and accounts issues are behind us, is a dividend payment in 2023 on the cards?
Christmas, hopefully, is going to be a good 'un for DX and with all its proposed plans and projections, I'm keeping my fingers and toes crossed that the SP heads Northward of 30p, so at the very least I can square off.
I very much value the opinions of the contributors on this board and hence ask but will take no offence if there are no comments.
Puts the proposed upgrades into perspective when, and as Ports succinctly stated to a few days ago, "... £1.6M in legal and advisory costs for the corporate governance shambles..."
But, as I've said previously, I had all but given up on my investment until a few weeks ago, so to be able trade now is such a relief.
Onwards and upwards...
Excuse my complete ignorance, but what is the reason for "boom"?
It's been a while since I last posted, but have continued to enjoy and learn from the varied opinions.
Please do keep them all coming.
Thank you very much for your valued opinion Sister.
As much as I had hoped for a miracle, the proverbial writing has been on the wall for months.
Roll on September...
I'm off to the carnival for a far more pleasant time, hopefully.
Let's hope he does what you hope, Sister!
If I may ask, do you believe the prompt publication of the 20/21 accounts will alleviate the perils of the Sword of Damocles that have been hanging over us all for what feels like years?
Might this lead accelerate the lifting of the share suspension?
I just hope that the CG issue does not reveal the sort of impropriety that would land DX into even more treacherous waters! ??
Fair point Pianista.
Without meaning to come across as condescending, I'll take anything even remotely positive at this point.
The proof will be in the pudding and I'm hoping the pudding will be for all to taste in the not too distant future.
Morning All
FJ, I share your sentiments in relation to the appointment of the NEDs.
An educated guess, following the totally unacceptable and inordinate radio silence by the BODs, would be that they are attempting to be proactive and seen to be doing something.
Until positive results are seen, chocolate and teapot are the words which come to mind following the appointments.
The above said and to repeat Sister, "... a little more positive..."
Thank you for your insight Ports.
As you wrote, there are "so many uncertainties" and variables at the moment.
The only option as they say is to watch this space, and that's precisely what all of us have been and continue to do!
Evening all
Ports, if I may ask, how do you think a M&A will affect the share price should DX restart trading?
Will there even be a M&A if the share suspension is lifted?
My apologies for asking what may be obvious answer to many and particularly to Ports for expecting him to look into a crystal ball and pretend to be Mystic Meg!
Despite going some way towards breaking their silence, as so many have already commented, the CG investigation costs are extraordinary to say the least.
Will there be more exceptional items.
Hoping there won't be, but preparing for the worst.
From continuing to preach faith in the BOD, my confidence in them now has been dented to the point of apathy.
That's the big dawg, FJ!!!
Not sure if he's feeling like a right chump, but I've certainly ended up like one.
Don't and would never point the finger of blame at the likes of Mr English.
However, what this experience has taught me is to tread extremely cautiously on the AIM and to rely on no one other than one's self and research.
Ports, I learned that lesson, but unfortunately a tad too late.
I vividly recall a link being posted on here a year or so ago with a pundit unequivocally preaching that he expected DX to be trading at £1.00!
I couldn't have been more delighted and then of course...
Sister, I feel and totally understand your angst. How the directors are getting away with everything simply beggars belief.
Sheer incompetence is an understatement, but as Ports put it, "we are where we are".
Let's see what the next week brings.