March 26 (Reuters) - Ooh!Media Ltd OML.AX :
* LAUNCHES A$167M FULLY UNDERWRITTEN EQUITY RAISING
* BRENDON COOK HAS COMMITTED TO REMAIN CHIEF EXECUTIVE OFFICER UNTIL AT LEAST END OF CY20
* COMPANY DECIDED TO WITHDRAW ITS FY20 EARNINGS GUIDANCE ON 16 MARCH 2020
* FY20 YEAR TO DATE REVENUE REMAINS IN LINE WITH PRIOR CORRESPONDING PERIOD
* ANNOUNCES REDUCTION OF CAPITAL EXPENDITURE PROGRAM BY $25M - $35M BELOW PREVIOUS GUIDANCE RANGE OF $60 - $70M
* INITIATIVES INCLUDE COST CONTROL WITH IDENTIFIED SAVINGS OF $20M - $30M IN OPERATING EXPENDITURE AND FIXED RENT EXPENSE REDUCTION
* PERFORMANCE IN Q1 WAS CONSISTENT WITH DELIVERING ORIGINAL FY20 EBITDA GUIDANCE OF $140M TO $155M
* LARGEST SHAREHOLDER HMI CAPITAL COMMITTED TO SUB-UNDERWRITE UP TO $17.7M ACROSS EQUITY RAISING