Brief: Akita Prioritizes Debt Reduction And Announces Second Quarter Results

AKITA Drilling

01/08/2019 02:28

July 31 (Reuters) - AKITA Drilling Ltd  AKTa.TO :
    * AKITA PRIORITIZES DEBT REDUCTION AND ANNOUNCES SECOND
QUARTER
RESULTS
    * Q2 LOSS PER SHARE C$0.13
    * AKITA - BOARD ELECTED TO SUSPEND CO'S DIVIDENDS ON ITS
CLASS A
NON-VOTING, CLASS B COMMON SHARES IN LIGHT OF CO'S DESIRE TO PAY
DOWN ITS DEBT
    * AKITA - QTRLY ADJUSTED REVENUE C$40.8 MILLION VERSUS C$21
MILLION
    * AKITA -  CO'S DEBT REPAYMENT PLAN ALSO INCLUDES A
CONTINUING
FOCUS ON COST CUTTING AND OTHER MONETIZATION AND CASH GENERATING
STRATEGIES

Source text for Eikon:  ID:nCNWJFJc4a 
Further company coverage:  AKTa.TO 

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