Australia's Webcentral sees worst day in more than 1-1/2 years as FY loss widens

Cirrus Networks Holdings

22/08/2022 06:54

** Shares of digital services co Webcentral Ltd  WCG.AX 
slide as much as 21.2% to A$0.205, their lowest since July 1
    ** Shares to mark their worst day since Jan. 12, 2021 if
losses hold
    ** Co posts FY loss after tax attributable of A$24.9 mln
($17.18), compared with a loss of A$4.7 mln a year earlier
 urn:newsml:reuters.com:*:nASX8jq0k8
    ** Co recommends an unfranked final dividend of 0.5
Australian cents per ordinary share
    ** In a separate announcement, co says it has agreed to sell
its 18.5% stake in Cirrus Networks Holdings  CNW.AX  in an
on-market trade  urn:newsml:reuters.com:*:nASX47v5yf
    ** Says the sale will see a cash inflow of A$5.5 mln  
    ** More than 2.5 mln shares change hands, 13.4 times the
30-day average of 189,000 shares
    ** As of last close, stock down 42.2% this year

($1 = 1.4493 Australian dollars)

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))