News: DSH Dick Smith updates on CFO changes, restructuring of group's support office ops at Chullora

Feb 3 (Reuters) - Dick Smith Holdings Ltd (DSH) :

• Dick Smith Group update (DSH)
• Bert Van Der Velde appointed as group's interim chief financial officer
• Announced restructuring of group's support office operations based at Chullora in western Sydney
• Restructure will result in the immediate loss of 22 support office jobs
• Underpayment issue does not affect current or former employees in New Zealand
• Says receivers estimate that the annual leave loading underpayment may be

  approximately A$2 million

• Understand that up to 3,200 current and former employees of Australian

  business may have been underpaid their annual leave loading entitlements"

• Says restructuring of the group's support office operations based at chullora

  in western Sydney

• Receivers are continuing their investigations; also reviewing other

  historical entitlement calculations to confirm they have been correctly paid

• Restructure will result in immediate departure of group's chief financial

  officer, Michael Potts