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BRIEF-Seek Says Ian Narev To Succeed Andrew Bassat As CEO

Published 23/02/2021, 09:57 am
© Reuters.
SEK
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Feb 23 (Reuters) - Seek Ltd SEK.AX :

* ANDREW BASSAT WILL STEP DOWN AS MD AND CEO OF SEEK AND BE SUCCEEDED BY IAN NAREV, EFFECTIVE 1 JULY 2021

* ANDREW BASSAT WILL TRANSITION TO A NEW FULL-TIME ROLE OF EXECUTIVE CHAIRMAN AND CEO OF SEEK INVESTMENTS

* FY21 REVENUE TO BE IN ORDER OF A$1,700M

* FY21 EBITDA TO BE IN ORDER OF A$460M

* FY21 REPORTED NPAT TO BE IN ORDER OF A$100M

* CO & OTHER ZHAOPIN SHAREHOLDERS ARE IN ADVANCED TALKS WITH CONSORTIUM LOOKING TO ACQUIRE OWNERSHIP INTEREST IN ZHAOPIN

* POTENTIAL TRANSACTION VALUATION FOR ZHAOPIN WILL BE IN ORDER OF A$2.2 BILLION

* IF PROPOSED TRANSACTION IS COMPLETED, EXPECTED SEEK WILL REDUCE STAKE TO ABOUT 23.5% IN ZHAOPIN

* INTENDS TO RECOMMENCE PAYMENT OF ORDINARY DIVIDENDS AT FY21 Source: https:// Further company coverage: SEK.AX

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