Member Info for Sisteract

Yeah, I saw that. Reflecting on it, it's probably bit fanciful but If there is a link between Lloyd Dunns
Investment/property Company and Dx then let's hope nothing untoward has gone on. It is very strange that Dx are so keen keep the corporate governance issue out of the public domain.

Please understand that I am not inferring a link between the corporate governance issue and Lloyd's other company at this point. I have had a couple.

We really need to put our faith in Lloyd. As well as Dx he runs a financial investment company with presumably his wife or someone with the same surname. 2020 to 2021 was stellar year increasing retained earnings from £500K to over £15m. He certainly has the Midas touch or ??. I'm saying nothing.

Dx are blaming Grant Thornton and Grant Thornton are blaming DX. It's like a school playground. Pathetic.

"The same company that just a few weeks ago demanded a seat on board with the the threat of calling a shareholders meeting." Self Interest rules OK !!

Major shareholder Gatemore Capital Management LLC leapt to the company's defence on Friday.

"Following these resignations, we believe there is an opportunity for the business to move forward. Shareholders have been assured that the matter being investigated by DX Group is a corporate governance and disciplinary issue and not related to the financial performance or the financial position of the group," said George Cadbury, a partner at Gatemore.

"Gatemore is fully supportive of the board and management who it understands remain intensely focussed on completing the ongoing investigation in full, whilst continuing to do what they do best – building a leading force in the UK logistics sector."

I had to laugh. !!

Accepted. Fair point Piansta on the RNS... but at the AGM it was only 0.16 % against that resolution.

It should be remembered that at the AGM in December there was a unanimous decision by all shareholders to reappoint the Auditors

Bang on pianista although I'm not sure about GT liability. They will be very wary of the mess ups they have made previously and will be keen to avoid more adverse publicity and perhaps that is what they are trying to avoid by resigning. The worry is though that if the governance issues are more serious than perhaps we think in terms of breaching law all sorts of investigations could take place for a long, long time. Notwithstanding day to day trading I should imagine it's pretty ugly behind the scenes and it is very worrying for shareholders.

LCP123. It is pretty pointless throwing accusations around that people have had their hand in the till and that is why directors resigned. There is not a shred of evidence for that but you are entitled to that view.

Not the comments I would expect from someone who works for a hedge fund.... allegedly????

Incidentally, I presume you are a shareholder in DX and I notice that you have only started posting on this discussion board in January the day before the suspension.?. If you bought in before that time you would have been fully aware of what was going on.

Ports. I think you are right to infer that about the express division. There have been 4/5 express depots opening or expansions since year end 2021 including 1 a few days before year end. So it seems B2C has gone backwards and has long way to go and I think your reasoning is sound. B2B is positive. Historically the opening of new depots has always added a bit to the SP and the opening of 5 new depots as per yesterdays RNS before year end 3/7/22 should in theory have s similar affect.

Yep, I think it is pretty good update after all it is all about sales and the heavy TV campaign over Jan and website are working well. Not to fussed about the supply chain issues. After all people expect it now and it's only a temporary problem. More of interest is how the inflationary pressures are affecting profitability.

We know exactly what is in the plans .£20-25m in the next three years approximately £7-8m per year on new depots, infrastructure, fleet etc. It has never been retracted. The 2 depots already opened this year and the five to open later this year as stated in the RNS today are obviously part of it.

The review of the growth strategy is being instigated and led by Meidar (Gatemore) and will only begin after the Annual Report is presented.

We know exactly what the plans are currently but we don't know how this may or may not change after Meidars Review.

Yes, a rather bland statement at the end. The RNS is positive with continued growth, profitability and nett cash is healthy. The waiting game continues.....

We'll there's a comment to stimulate some active debate LCP123.

DX was on its knees in 2017 operating in a low margin competitive business. Within four years the Directors have turned it round to profitability. Isn't there an argument for letting the Directors get on with it . "CIO and Portfolio's managers are many times smarter than the DX Board"... Not in running a transport and Logistics I don't think. Do you really think Dx would be where it is know without the experienced Transport people running it. If you have read the bios of the Directors you will see that they have a history of enhancing share holder value throughout their career and with DX.
Your post sums what I think about the Activist/interventionist funds .... they always think they know better. Let those who know what they are doing.... do it. !

Yes, it has been well run to date. Absolutely. But I invest for a minimum of 2 years so I'm not fussed with short term volatility or one off problems. My issue really is with Gatemore and I ask myself :

Would I want a interventionist fund representation on the board of a company I invest in. ?
Would I want to invest in a company where this funds view is not aligned to the directors in expanding the business?
Would I want to invest in a company where one of its major external shareholders thinks it can flex its financial muscle at any time to affect strategy.
What is to stop them doing this in the future?

The answer for me is a resounding No. But I completely understand those with a different take on it.

Gatemore have done this a couple of times before and if you research it.. it hasn't proved beneficial.

Anyway tomorrow should be interesting.

Agree with all that Ports. Two Non Execs going together with immediate effect.... I think it's a sign that Meidar is calling the shots. There is still no update re Annual Report perhaps we'll get some info tomorrow with the trading update but I won't hold my breath. Hoping for a good update and removal of share suspension soon in the hope I can get out relatively unscathed.

Omir........ in my view we are closer to a fair valuation but is has been caused by the great sell off and current sentiment. Bird is a great story and one I am invested in but unfortunately the current financials as we know them don’t support the great story. In tough times it’s the financials that matter no one is bothered about the story and potential. It is my view that we’ll all be rewarded within a couple of years. I just wish I had more spare cash to invest but the taxman needs paying on the 31st.

I can't see any reason why they couldn't give us any form of update as its hardly going to affect the share price ???. is it a source of embarrassment.?

I would have probably sold as well ports. But it's born out of the continued corporate governance failures. Even now with the new non exec there is no transparency. Owners of the company are still kept in dark and we know no more now than we did three months ago about these failures. Is the audit having to be done again.? I notice there has been a vacancy for a divisional management accountant in Express .. I wonder if that has anything to do with it.... but the way I'm feeling I'm probably reading to much into it. But the silence is deafening.