25th Nov 2021 09:41
DX Group PLC - Slough, England-based parcel freight, secure courier and logistics - DX shares are set be suspended from trading at the start of the new year after it delays the release of its annual results.
"The company's Audit & Risk committee has recently raised a corporate governance inquiry relating to an internal investigation commenced during the financial year ended July 3, 2021. The inquiry has yet to be concluded, and the process will delay the completion of the audit, but will be expedited as quickly as possible," the company said.
DX does not expect the investigation to be completed before January 2, 2022, which marks the six-month point after its financial year-end. As a result, its shares will be suspended from trading.
"The board remains confident that DX is well-placed to continue to increase its market share and make progress over the new financial year," DX said, noting that trading is in line with board expectations.
DX was scheduled to hold its annual general meeting on Thursday, but it says it will adjourn the meeting to a date to be set in December.
Current stock price: 17.50 pence, down 42% on Thursday
Year-to-date change: down 51%
By Tom Waite; [email protected]
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