The extraordinary general meeting called for by a DX Group shareholder has been cancelled after the delivery company announced its intention to buy Menzies Distribution. Gatemore Capital Managemen called for the meeting last month to try and have Bob Holt and non-executive director Paul Murray removed from the board and replaced with four new candidates. The move was prompted by a 90% fall in DX share price in the last two years, but Gatemore said it had withdrawn the request […]
The deal that would have see DX Group acquire Menzies Distribution has been called off, and a new board of directors is set to be installed at DX under the guidance of its largest shareholder – Gatemore Capital Management.
DX Group’s pre-tax profit crashed 75% year-on-year in the six months ending 31 December 2016, it revealed today.
Menzies Distribution is looking increasingly towards the parcels market as it looks to diversify the business to offset falling revenues from its core newspaper distribution business.