Member Info for Sisteract

Well Deep I'm sorry you feel like that and I hope you recover your investment. I think there has been some very measured and realistic comments and opinions on this discussion board. I think the the investment case was sound in DX which is why I invested. They are a sound company but have made a very big mistake and it remains to be seen how the implications of this mistake affect DX moving forward. I'm thankful I avoid Bandwagon and Jam tomorrow shares like ODX, Tils, etc we know who they are. Shares that are constantly talked about in the PI community are unbelievably risky investments and a lot of time it'll end in tears. I feel for novice investors because the AIM is not in my opinion the place to be for them.

It now virtually a month since DX would have known about the resignation of auditors. It seems that the appointment of new auditors is not as straight forward as we perhaps thought. The elephant in the room is the corporate governance issue and I think it is a big sticking point in getting new auditors. I don't know how long discussions with new auditors take before they come on board but my logic tells me it shouldn't take four weeks. They are looking at a 3K fine if they don't produce accounts by 3 April and £7K if nor produced by July. My view is moving to voluntary delisting unfortunately. Hope I am wrong.

I don't think we will ever get the answer FJ. It's all a matter of opinion DX state that GT comments don't accurately reflect the current situation. Ultimately DX's opinion doesn't matter, it's that of the auditor and that of any potential auditor that counts. Surely DX would have taken legal advice in light GT's comments before any discussions with a new auditor. I haven't a clue what's going to happen but they need to be appointing a auditor very quickly with the timescales involved. If they don't I think we will see a extension application or a voluntary delisting while they decide what to do. I don't think we will see a forced delisting.

I think it is absolutely "privilege" . It's stated in GT's letter. DX have not been forthcoming with the information GT require and are hiding behind "privilege.

Yes, let's hope the talks with the potential auditors come of. There is obviously a disagreement between DX and GT on a point of law . ie privilege. So there must be some lawyer involvement somewhere.No potential auditor will take this on until it is clarified and the clock is ticking.

I don't know why we expect transparency and honesty. Cover ups and blame deflection is the new normal. Our Primeminister sets by example doesn't he. Not to mention commrade Vladimir.!

I don't take any comfort in that statement because it is totally irrelevant now. They need an auditor pronto who can complete the audit prior to a possible delist. Trading statements, depot openings or whatever exciting things they want to tell us about don't matter if there is a delist and we have these uncertainty that will exist regarding the value of our shareholding.It's the lack of clarity and arrogance of the DX directors have put us in this position.......and the attitude that we know better than the auditors.!!!. The RNS says they are in discussion with replacement potential auditors..... let's hope that comes of .... otherwise we know exactly where the problem lies. !

Well what a damp squib that turned out to be. It's subject to privilege which essentially means we are not going to be told. Where is the transparency DX directors with your shareholders. How I wish I could get out.. I am not sure the directors have acted with any honesty. Was it true about Grant Thornton having resource problems, ? who knows but it all stinks.!!

Looks like DX are leaving it right to the death before informing the shareholders. It doesn't really inspire any confidence at all.

Yea, I think K Leatherland is either part of it or a victim of the corporate governance issue.

I'd be surprised if we delist.. haven't they got a share performance plan in place for 40 or so managers vesting date December 21 from Memory.

Don't take this as 100% but I asked my next door neighbour who is a retired management accountant what his view was when I explained the situation.
1) An extension would probably be granted for an audit redo. 3 months max he thought.
2) General View that the company would do everything it could to avoid a delist
3) institutional Investors would flee as soon as possible if the company is delisted( Investment rules wouldn't allow them to hold shares in a delisted company)
4) I explained that Gatemore held 20% and demanded a seat on the board etc. He said they are probably discussing making contingency plans if they felt a delist was a distinct possibility.

Not saying its true.. it just the view of someone who knows bit more than me.

Yes its quite simple. It just means the shares can't be traded on the AIM. You don't lose your shareholding. A voluntary delisting is more preferable than a forced delisting. Lots of actions may be follow like a attempt to take it private or even a application to relist at some point in the future amongst other things. It doesn't mean you automatically lose money, we may do but it may even be beneficial and we make money. Gatemore and the other institutional Investors own over 50% of the company and they will have a big say on what happens moving forward.

Fair comments Ports. Could it just be as simple as "we'll get what we can where can" as long as it's profitable even if the profits are minimal as its worth the exposure alone.

I'm sure it doesn't. I'm just giving my opinion as well all do unless we have inside information. It will all play out for us to see.

Maybe, but it is after a successful pilot so the feedback must have been pretty positive or it was a pointless exercise and investment. The rollout to international express later this year must be beneficial unless someone with more knowledge knows more about it. A global partner won't take this onboard unless it benefits them. Mind you anything DX tells us needs to be taken with a pinch of salt in the current climate.

I also think it's a positive. After all these depot sales managers have to have something to sell rather than a standard delivery service. Tying customers in to some sort of membership/commitment to the company is a good outcome. A chink of light underneath the storm clouds.

Typo ...Karensa Leatherland

I think you get more information about Dx through reading the company reports/results on government websites than relying on DX to tell us. I certainly learned something new.For example no RNS notification to tell us that K Sutherland had resigned as a director in October 2021. She was responsible for HR/People and seems have disappeared from the company website. Perhaps the disciplinary matter was something to do with her. Who Knows.

Yes that may well be the case. Therefore it isn't actually Lloyd who holds the shares then, its his investment company so the RNS relating to his purchases is not fully transparent as his investment company is never mentioned as a shareholder. I think the Convertible loan was in 2017/18. this 5m was in 2019 and there was no rns about it.I don't doubt lloyds abilities to run a transport company but it is pretty obvious that transparency and clarity is not one of his strongest points.... perhaps Gatemore do have a point. !

I would of thought that loan in 2019 converted into shares should have been RNS'd. I can't find anything... perhaps I have missed it.