Brief: Arqit Quantum Inc Announces Financial Results For The First Half Of Fiscal Year 2023

Arqit Quantum

17/05/2023 11:12

May 17 (Reuters) - Arqit Quantum Inc  ARQQ.O :
    * ARQIT QUANTUM INC. ANNOUNCES FINANCIAL AND OPERATIONAL
RESULTS
FOR THE FIRST HALF OF FISCAL YEAR 2023
    * ARQIT QUANTUM INC - SIGNIFICANT COST REDUCTION INITIATIVE
ACTIONED
    * ARQIT QUANTUM INC- SIGNIFICANT COST REDUCTION INITIATIVE
ACTIONED
    * ARQIT QUANTUM INC- ADVISER RETAINED IN CONNECTION WITH
POTENTIAL
SALE OF SATELLITE DIVISION
    * ARQIT QUANTUM INC - VIRGIN ORBIT BANKRUPTCY IS NOT
EXPECTED TO
HAVE A MATERIAL IMPACT ON OPERATION OF OUR BUSINESS RESULTS
GOING FORWARD
    * ARQIT QUANTUM INC- IN MAY 2023,  UNDERTOOK SIGNIFICANT
COST
REDUCTION INITIATIVE ACROSS ALL BUSINESS FUNCTIONS WHICH HAD
ELIMINATION OF 20 POSITIONS
    * ARQIT QUANTUM-  EXPECT ADDITIONAL COST REDUCTION,
INCLUDING WITH
RESPECT TO PERSONNEL, SHOULD DEAL INVOLVING ARQIT'S SATELLITE
DIVISION BE CONSUMMATED

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