CCX 4.35% 11.0¢ city chic collective limited

News: CCX City Chic Collective Signs Agreement To Divest Its US Based Avenue Business

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    June 20 (Reuters) - City Chic Collective Ltd (CCX) :

    • SIGNED A DEFINITIVE AGREEMENT TO DIVEST ITS US BASED AVENUE BUSINESS TO FULLBEAUTY BRANDS FOR US$12 MILLION
    • FORECAST GROUP SALES FOR FY24 ARE DOWN 30% TO A$187 MILLION (INCLUDING AVENUE)
    • FORECAST GROUP SALES FOR FY24 ARE DOWN 30% TO A$187 MILLION (INCLUDING AVENUE )
    • CITY CHIC'S LENDER AGREED TO RESTRUCTURE CURRENT DEBT FACILITY, WITH A$10 MILLION MULTICURRENCY FACILITY
    • PREPARATIONS FOR CITY CHIC'S PROPOSED CAPITAL RAISE REMAIN ONGOING
    • TRADING OF SECURITIES OF CITY CHIC WILL REMAIN IN TRADING HALT WHILE CAPITAL RAISE PREPARATIONS CONTINUE
    • SEES FY24 PROFORMA ADJUSTED EBITDA POST-AASB16 FROM CONTINUING OPERATIONS (IE, EXCLUDING AVENUE AND EVANS) IS LOSS OF A$9.3 MILLION
 
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