Shares in independent logistics and parcel distribution company DX (Group) shot up 10%, surpassing 27p on Tuesday.
The rally followed co-founder and manager of Caird Capital Mark Hammond’s appointment as executive chairman with immediate effect until the group secures a permanent chief executive.
Jon Kempster, DX’s senior independent director, commented on the appointment: "We are delighted to welcome Mark to the board as executive chairman.
His appointment is an important step as we progress plans for the group's future growth and development to the benefit of all shareholders."
DX’s market capitalisation is £157mln.