Telegraph: Board of logistics group DX wins reprieve as activist investor shelves emergency meeting

Gatemore has withdrawn its EGM request while the current board continues to negotiate on a reverse merger with John Menzies plc. Per Gatemore’s letter to the Board:

The untimely announcement of discussions between DX and John Menzies plc has fostered confusion over the purpose of the EGM. Our EGM proposals were brought to address the urgent need for effective leadership and to improve the governance standards of a suboptimal board structure. Our proposals were not designed to act as a referendum on an ill-conceived transaction that has been negotiated from a position of weakness […]

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