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BRIEF-Tubi Received Resignation From Chairman, Simon Bird

Published 08/04/2021, 06:57 pm
Updated 08/04/2021, 07:00 pm
© Reuters.
2BE
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April 8 (Reuters) - Tubi Ltd 2BE.AX :

* RECEIVED RESIGNATION FROM CHAIRMAN, SIMON BIRD

* RECEIVED RESIGNATION FROM CFO, ARIEL SIVIKOFSKY

* MARCELLO RUSSO HAS COMMITTED TO REMAIN AS MANAGING DIRECTOR

* BOARD HAD BEEN UNABLE TO AGREE ON CO'S STRATEGY AND FINANCING ARRANGEMENTS

* ALL PLANTS HAVE BEEN STOOD DOWN AND KEY PERSONNEL HAVE FOUND INTERIM POSITION

* SALES FOR QUARTER TO 31 MARCH 2021 ARE EXPECTED TO BE 70-80% LOWER THAN CORRESPONDING PERIOD LAST YEAR

* EXPERIENCED DIFFICULT TRADING CONDITIONS IN MARCH QUARTER DUE TO COVID AND RAW MATERIAL SUPPLY ISSUES

* HOPETOUN PTY LTD ADVISED CO THAT IT WILL NOT EXTEND CO'S LEASE OF PLANT 5003 AND HAS FORESHADOWED ITS SALE

* INTERIM CFO IDENTIFIED AND WILL BE APPOINTED SHORTLY Source ( https:// ) Further company coverage: 2BE.AX

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