CCG 0.00% 6.3¢ commschoice group limited

News: CCG CommsChoice Group Announces Plans To Restructure Sales And Customer Operations Areas

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    June 11 (Reuters) - CommsChoice Group Ltd (CCG) :

    • ANNOUNCES PLANS TO RESTRUCTURE ITS SALES AND CUSTOMER OPERATIONS AREAS
    • RESTRUCTURE OF AUSTRALIAN OPERATIONS REMOVING NON-CORE COSTS FROM OPERATIONS AND SALES AREAS IN AUSTRALIA
    • RESULT OF PROPOSED INITIATIVES IS EXPECTED TO RESULT IN TOTAL ANNUALISED COST SAVINGS OF ABOUT $2.0M
    • EXPECTS TO RECOGNISE APPROXIMATELY$18.4M OF COSTS RELATED TO THE RESTRUCTURE
    • ANTICIPATES FY19 REVENUE IN RANGE OF $19.5M TO $20.5M AND UNDERLYING EBITDA (EXCLUDING RESTRUCTURING COSTS) OF ABOUT $0.1M
    • SEES FY20 REVENUE IN THE RANGE OF $20M TO $21M AND UNDERLYING EBITDA OF BETWEEN $1.8M TO $2.2M
    • UNDERTAKING EQUITY CAPITAL RAISING TO RAISE ABOUT $1 MILLION, FOLLOWED BY SHARE PURCHASE PLAN PARTIALLY UNDERWRITTEN TO $1.0 MILLION
 
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