BRIEF-Stefanutti Stocks Says Strategic Restructure Team Has Been Appointed

  • Reuters
  • Stock Market News
BRIEF-Stefanutti Stocks Says Strategic Restructure Team Has Been Appointed
Credit: © Reuters.

Nov 28 (Reuters) - Stefanutti Stocks Holdings Ltd SSKJ.J :

* JSE: SSK - UNAUDITED CONDENSED CONSOLIDATED RESULTS FOR THE 6 MONTHS ENDED 31 AUGUST 2019

* STEFANUTTI STOCKS HOLDINGS LTD - STRATEGIC RESTRUCTURE TEAM HAS BEEN APPOINTED

* STEFANUTTI STOCKS HOLDINGS LTD - RESTRUCTURING PLAN WILL INCLUDE AN ASSESSMENT OF SALE OF NON-CORE ASSETS INCLUDING DIVISIONS/SUBSIDIARIES

* STEFANUTTI STOCKS HOLDINGS LTD - HY HEADLINE LOSS PER SHARE 607,72 CENTS VERSUS EARNINGS OF 60,30 CENTS

* STEFANUTTI STOCKS - RAISED FURTHER PROVISION OF R462 MILLION FOR POTENTIAL UNRECOVERABLE MONTHLY MEASURED WORKS TO COMPLETE PUBLIC SECTOR POWER PROJECT

* STEFANUTTI STOCKS HOLDINGS LTD - HY LOSS PER SHARE 622,35 CENTS VERSUS EARNINGS OF 61,76 CENTS

* STEFANUTTI STOCKS - IN HY CONTINUED ADVERSE MARKET CONDITIONS, REDUCED CONTRACT REVENUE FROM OPERATIONS TO R4,4 BILLION (AUG 2018: R5,1 BILLION)

* STEFANUTTI STOCKS HOLDINGS LTD - GROUP'S ORDER BOOK IS CURRENTLY R11,2 BILLION

* STEFANUTTI STOCKS HOLDINGS LTD - HY CONTRACT REVENUE R4.45 BILLION VERSUS R5.10 BILLION

* STEFANUTTI STOCKS HOLDINGS LTD - GROUP CONTINUES TO BE NEGATIVELY AFFECTED IN CERTAIN AREAS OF SOUTH AFRICA

* STEFANUTTI STOCKS HOLDINGS LTD - NO DIVIDEND WILL BE DECLARED FOR HY

* STEFANUTTI - STARTED PROCESS WITH PRIMARY BANKER AND GUARANTEE PROVIDERS, WHERE GROUP GOT ADDITIONAL SECURED SHORT-TERM FUNDING

* STEFANUTTI - SHORT-TERM FUNDING AMOUNTING TO R391 MILLION (SECOND TRANCHE) ON NOV 5 NOVEMBER

* STEFANUTTI - REMAINS IN DISCUSSIONS TO SECURE ADDITIONAL TRANCHES OF FUNDING

* STEFANUTTI - FUNDS RECEIVED FROM THE FIRST AND SECOND TRANCHES HAVE BEEN UTILISED TO MEET THE GROUP'S SHORT-TERM LIQUIDITY REQUIREMENTS

* STEFANUTTI STOCKS - RESTRUCTURING PLAN WILL ALSO INCLUDE ASSESSMENT OF CAPITAL STRUCTURE ANALYSIS INCLUDING POSSIBILITY OF RAISING NEW EQUITY

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