BEX bikeexchange limited

News: BEX Bikeexchange Announces Review Of Kitzuma Bike Delivery Business

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    Feb 28 (Reuters) - Bikeexchange Ltd (BEX) :

    • REVIEW OF KITZUMA BIKE DELIVERY BUSINESS
    • MADE A DECISION TO NOT RESTART KIZTUMA BIKE DELIVERIES
    • KITZUMA BOXED DELIVERY AND WAREHOUSE/3PL SERVICES WILL CONTINUE TO OPERATE
    • REVIEW LED DIRECTORS TO FULLY WRITE-DOWN GOODWILL AND WRITE DOWN RELATED BIKE DELIVERY ASSETS TO THEIR RECOVERABLE AMOUNT
    • WRITE-DOWNS RESULTING IN IMPAIRMENT LOSSES OF A$5.3M BEING RECOGNISED IN HY1 FY23
 
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