News: SYT Syntonic Updates On Impact Of Coronavirus Disease On Business

March 23 (Reuters) - Syntonic Ltd (SYT) :

• UNFORESEEN AND SUDDEN BUSINESS IMPACT WILL DELAY SYNTONIC'S ABILITY TO ACHIEVE ITS TARGET OF CASH FLOW POSITIVE OPERATIONS BY END OF FY2020
• UPDATES ON IMPACT OF CORONAVIRUS DISEASE ON SYNTONIC BUSINESS
• COMPANY DOES NOT ANTICIPATE ANY SHORT-TERM MATERIAL IMPACT ON BUSINESS OPERATIONS RESULTING FROM COMPANY DIRECTIVES
• SEES MATERIAL IMPACT ON FY20 REVENUE GENERATED FROM SALES AND RENEWALS OF FOX SPORTS GOL SERVICE
• REVENUE REDUCTION WILL ALSO IMPACT COMPANY'S ABILITY TO ACHIEVE ITS TARGET OF CASH FLOW POSITIVE OPERATIONS BY END OF FY2020
• SEES OVERALL DECLINE IN CONSUMER SPENDING AS COVID-19 EXPANDS INTO SYNTONIC'S PRINCIPLE MARKETS WHICH MAY REDUCE CO'S REVENUE IN UPCOMING QUARTER