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DX Group PLC on Thursday said trading has remained in line with the management expectations outlined in final results, announced in October. Updating investors ahead of today’s annual general meeting, the Slough, England-based parcel delivery company said it has, in addition, made very good progress operationally with its investment plans, including a significant number of new site openings, in line with its strategic objectives. ‘While the current economic headwinds point to some softening of consumer-orientated volumes, the board continues to remain encouraged about growth prospects, supported by its consistent high service level offering and the commercial opportunities available,’ commented Chair, Mark Hammond. Last Thursday, DX said it had agreed to a cash takeover offer from funds managed by HIG Capital LLC and advised by HIG European Capital Partners LLC. DX shareholders will be entitled to receive 48.5 pence per share. This will consist of 47.5p in cash and a 1p final dividend for the year ended July 1. This was a premium of 33% to DX’s 36.5p closing price on September 8, the last business day before HIG Capital confirmed that it had made an offer for DX. The deal values DX at £314.8 million. Shares in DX rose 0.7% at 46.81p in London on Thursday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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