DX (Group) PLC Re: CMA Review - Revocation of Enforcement Order (0017K)
16 September 2016 - 4:00PM
UK Regulatory
TIDMDX.
RNS Number : 0017K
DX (Group) PLC
16 September 2016
16 September 2016
AIM: DX.
This announcement contains inside information.
DX (Group) plc
("DX" or "the Company")
Re: UK Competition and Market Authority's review
Revocation of the Initial Enforcement Order
DX, an independent parcels, mail and logistics operator,
announced on 5 July 2016 that the UK Competition and Markets
Authority ("the CMA") had initiated a review of the Company's
acquisition of the trade and assets of The Legal Post (Scotland)
Limited and First Post Limited (together "the Transaction") and
that, accordingly, the CMA had served an Initial Enforcement Order
under section 72(2) of the Enterprise Act 2002.
The CMA has confirmed that it is continuing to conduct its
assessment of the Transaction and has not yet taken a decision as
to whether the Transaction has or may be expected to result in a
substantial lessening of competition. Nevertheless, based on the
evidence it has received in its assessment of the Transaction to
date, the CMA considers that it is appropriate to revoke the
Initial Enforcement Order.
DX will now continue with the combination of the acquired trade
and assets with the Company's existing operations in Scotland so as
to deliver the customer service enhancements and anticipated cost
savings as planned.
DX will continue to provide full assistance to the CMA.
Enquiries:
DX (Group) plc
Bob Holt, Chairman M: 07778 798816
Petar Cvetkovic, Chief Executive T: 01753 631
624
Ian Pain, Chief Financial Officer
Zeus Capital (Nominated Advisor T: 020 3829 5000
and Joint Broker)
Nick How, Dominic King
Numis Securities (Joint Broker) T: 020 7260 1314
Stuart Skinner, Toby Adcock
KTZ Communications T: 020 3178 6378
Katie Tzouliadis, Viktoria
Langley, Emma Pearson
This information is provided by RNS
The company news service from the London Stock Exchange
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