Date Posted:


Zeus Capital acted as Nomad and Broker to DX (Group) plc (Ticker: DX.L) on a £24m fundraising by way of convertible loan notes, as announced on 9 Oct 2017

9th October 2017

Zeus Capital advised the Company in the fundraising led by its major shareholder, GCM Partners II LP (“Gatemore”). The Loan Notes were placed with existing investors and the incoming management team in a two tranche raise, with the second tranche subject to shareholder approval.  These convertible Loan Notes will be capable of conversion at 10 pence per new DX share, which represented a premium of c.28 per cent. to the average closing price of DX ordinary shares over the 20 trading days immediately prior to the date of the announcement. The net proceeds of the Fundraising will be used to address the Company’s working capital shortfall, and capital expenditure and restructuring costs.

The fundraise will allow DX to undertake a turn around of the business following the appointment of its new management who bring significant collective experience in managing and improving the performance of freight operations.

*This web page constitutes a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and has been approved by Zeus Capital Limited, which is authorised and regulated by the Financial Conduct Authority.