AIM: DX.

DX (Group) plc

("DX", the "Company" or the "Group")

Update regarding appointment of an auditor

Since the announcement of the resignation of Grant Thornton UK LLP as auditor to the Company and to other members of the Group in February 2022, the DX Board has been in discussions with a number of potential new auditors.  However, to date, the Board has been unable to agree a new appointment. 

The Board has now concluded that there is a material risk that the audit of the Company's accounts for the financial period ended 3 July 2021 (the "Audit") will not be completed and the audited annual accounts not published by 7.30am on 5 July 2022, six months after the suspension of the Company's shares from trading on AIM. As shareholders are aware, the suspension occurred as a result of the Company's inability to comply with AIM Rule 19, which required the Company's accounts for that financial period to have been published and sent to shareholders without delay and, in any event, not later than six months after the end of the financial year to which the accounts relate. 

If the Company fails to comply with AIM Rule 19 by 7.30am on 5 July 2022, AIM Rule 41 requires London Stock Exchange plc (as the operator of AIM) to cancel admission of the Company's shares to trading on AIM unless a derogation from AIM Rule 41 could be agreed with AIM to allow time for the Audit to be completed and AIM Rule 19 complied with, of which there can be no guarantee at this point in time.

The Board remains in discussions with potential new auditors regarding a possible appointment as a matter of urgency.

The Group's trading performance and financial position since 1 January 2022 have remained in line with the Board's expectations.

Further updates will be made in due course.

This announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with the company's obligations under Article 17 of MAR.

Enquiries:

About DX (Group) plc:

DX is a well-established provider of a wide range of delivery services to both business and residential addresses across the UK and Ireland. First established in 1975 as a Document Exchange service to the legal sector, DX now provides one of the widest ranges of overnight delivery services in the market, as well as logistics services. Items that DX transports range from confidential documents and valuable packages to large, awkward-to-handle freight, unsuitable for automated conveyor.

DX Freight: comprises DX 1-Man, DX 2-Man and Logistics. The Division specialises in the delivery of irregular dimension and weight freight ("IDW").

DX Express: comprises DX Parcels and DX Exchange and Mail. The Division specialises in the express delivery of parcels and documents.