July 14, 2017 / 2:27 PM / 3 months ago

Top DX shareholder Gatemore welcomes changes

LONDON, July 14 (Reuters) - DX Group activist shareholder Gatemore Capital Management is positive about organisational changes and recent performance at the British mail delivery firm, the fund’s managing partner said on Friday.

DX Group said earlier on Friday its chief executive and finance director would step down and it would separate its operations into courier and freight divisions.

“We welcome the organisational changes,” Liad Meidar said in a statement.

“Our working relationship with the board has become more productive.”

Gatemore, the biggest investor in the firm, raised its stake to 21 percent in May. (Reporting by Carolyn Cohn; Editing by Dasha Afanasieva)

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