Sept 24 (Reuters) - ARQ Group Ltd ARQ.AX :
* FORECAST REVENUE GROWTH FOR SECOND HALF OF 2019 WILL NOT BE ACHIEVED.
* SECOND HALF GROUP UNDERLYING EBITDA IS EXPECTED TO BE IN RANGE OF $16.8M TO $19.3M (NYSE:MMM)
* COST REDUCTION INITIATIVES WILL BE INSUFFICIENT TO OFFSET REVENUE SHORTFALL IN SECOND HALF OF 2019
* ADDITIONAL $1.1M OF ANNUALISED COSTS ARE EXPECTED TO BE REMOVED OVER REMAINDER OF THIS YEAR
* REVENUE IN ENTERPRISE DIVISION IN SECOND HALF OF 2019 IS EXPECTED TO BE FLAT WHEN COMPARED TO FIRST HALF.
* TRISTAN STERNSON HAS BEEN APPOINTED AS INTERIM CEO
* CEO MARTIN MERCER AGREED THAT HE WILL BE LEAVING BUSINESS
* APPOINTED MACQUARIE CAPITAL (AUSTRALIA) TO UNDERTAKE A STRATEGIC REVIEW TO EXPLORE ALL AVENUES FOR SHAREHOLDER VALUE CREATION