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BRIEF-Energy Action Appoints John Huggart As Interim CEO

Published 21/12/2018, 08:37 am
© Reuters.  BRIEF-Energy Action Appoints John Huggart As Interim CEO
EAX
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Dec 21 (Reuters) - Energy Action Ltd EAX.AX :

* CONCLUDED STRATEGIC REVIEW OF OPTIONS AVAILABLE TO COMPANY

* EXPECTS TO GENERATE POSITIVE OPERATIONAL CASHFLOWS BEFORE INTEREST, TAX AND SIGNIFICANT ITEMS OF $1.7M IN FIRST HALF OF FY19

* DECLINE IN REVENUES IS LIKELY TO LEAD TO AN NPAT RESULT MORE THAN 50% LOWER THAN IN FIRST HALF OF FY18

* A COMPELLING FINAL PROPOSAL THAT MET CRITERIA FOR SYNERGIES AND VALUE WAS NOT RECEIVED

* APPOINTS JOHN HUGGART AS INTERIM CEO

* IVAN SLAVICH HAS TENDERED HIS RESIGNATION AS CEO

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