News: MOZ Mosaic Brands To Restructure EziBuy Business

April 3 (Reuters) - Mosaic Brands Ltd (MOZ) :

• RESTRUCTURE OF EZIBUY WILL HAVE NO IMPACT ON ANY OTHER OF NINE RETAILS BRANDS WITHIN GROUP'S PORTFOLIO
• NOTED PERFORMANCE OF EZIBUY AT ODDS WITH STRONG AND CONTINUED DIGITAL GROWTH ACROSS MOSAIC'S OMNICHANNEL BRANDS
• GROUP DOES NOT CONSIDER IT PRUDENT TO PROVIDE ANY SHORT TERM GUIDANCE TO MARKET
• INTENDS TO PROPOSE RESTRUCTURE THAT WOULD SEE EZIBUY EMERGE AS SIMPLIFIED, PROFITABLE, CASH-GENERATIVE ONLINE-ONLY OPERATION
• BELIEVES RESTRUCTURE EZIBUY IN BEST INTERESTS OF SHAREHOLDERS AS IT WILL IMPROVE OVERALL NET ASSET POSITION AND OPERATING CASHFLOW
• EXTENT OF EZIBUY'S SALES DECLINE PROMPTED BOARD TO CONDUCT STRATEGIC REVIEW OF ITS OPERATING AND COST STRUCTURE

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