June 11 (Reuters) - CommsChoice Group Ltd (CCG) :
- ANNOUNCES PLANS TO RESTRUCTURE ITS SALES AND CUSTOMER OPERATIONS AREAS
- RESTRUCTURE OF AUSTRALIAN OPERATIONS REMOVING NON-CORE COSTS FROM OPERATIONS AND SALES AREAS IN AUSTRALIA
- RESULT OF PROPOSED INITIATIVES IS EXPECTED TO RESULT IN TOTAL ANNUALISED COST SAVINGS OF ABOUT $2.0M
- EXPECTS TO RECOGNISE APPROXIMATELY$18.4M OF COSTS RELATED TO THE RESTRUCTURE
- ANTICIPATES FY19 REVENUE IN RANGE OF $19.5M TO $20.5M AND UNDERLYING EBITDA (EXCLUDING RESTRUCTURING COSTS) OF ABOUT $0.1M
- SEES FY20 REVENUE IN THE RANGE OF $20M TO $21M AND UNDERLYING EBITDA OF BETWEEN $1.8M TO $2.2M
- UNDERTAKING EQUITY CAPITAL RAISING TO RAISE ABOUT $1 MILLION, FOLLOWED BY SHARE PURCHASE PLAN PARTIALLY UNDERWRITTEN TO $1.0 MILLION
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