News: SDA Speedcast International Says FY Performance Affected By Uncertainty Around Coronavirus

March 18 (Reuters) - Speedcast International Ltd (SDA) :

• FY20 PERFORMANCE AFFECTED BY HEIGHTENED UNCERTAINTY SURROUNDING CORONAVIRUS
• ANTICIPATES FY19 EBITDA WILL BE IN RANGE OF US$110-121 MILLION
• NOT YET ABLE TO PROVIDE A RELIABLE OUTLOOK FOR PERFORMANCE OF BUSINESS IN FY20
• PETER SHAPER AND JOE SPYTEK HAVE TO MOVE INTO FULL-TIME CEO AND PRESIDENT / CHIEF COMMERCIAL OFFICER ROLES
• AS A CONSEQUENCE, COMPANY HAS SUSPENDED ITS EXTERNAL SEARCH FOR A CEO
• APPOINTED MOELIS AUSTRALIA TO ADVISE ON FUNDING AND RECAPITALISATION ALTERNATIVES
• INITIATED DISCUSSIONS WITH ITS LENDING GROUP ON ADDITIONAL FUNDING