Ann: Court approval of Schemes and Entitlement Offer Update, page-2

“Getting to this point has taken many months of focus, effort, and belief from all our stakeholders. The support of our suppliers, financiers, and staff has been extraordinary. I want to recognise the significant compromises made by all of them, it is with great gratitude and humility that I thank them, along with our customers who have stuck with us through these trying times.“It is also with great sadness that we say goodbye to many of our work colleagues, particularly at this time of year. We remain committed to doing everything in our power to provide the best level of support that we can in their transition.“Our new equity and improved balance sheet will allow us to further develop our capabilities in data and bring new products to market that can help the brands and businesses we work with to recover from the impacts of Covid-19 and get back to turning audiences into customers.“Ultimately, we are now well positioned to evolve our business and place our focus on delivering a tangible difference for the brands that entrust their business with us.”

Ovato says the measures will enable it to make an EBITDA of between $41m and $45m in the current financial year. Last year it lost $109m on sales that slumped by $130m to $593m:
https://www.print21.com.au/industry/ovato-rescue-scheme-approved-by-supreme-court