Brief: City Chic Collective Signs Agreement To Divest Its US Based Avenue Business

City Chic Collective

20/06/2024 11:30

June 20 (Reuters) - City Chic Collective Ltd  CCX.AX :
    * SIGNED A DEFINITIVE AGREEMENT TO DIVEST ITS US BASED
AVENUE
BUSINESS TO FULLBEAUTY BRANDS FOR US$12 MILLION
    * FORECAST GROUP SALES FOR FY24 ARE DOWN 30% TO A$187
MILLION
(INCLUDING AVENUE)
    * FORECAST GROUP SALES FOR FY24 ARE DOWN 30% TO A$187
MILLION
(INCLUDING AVENUE )
    * CITY CHIC'S LENDER AGREED TO RESTRUCTURE CURRENT DEBT
FACILITY,
WITH A$10 MILLION MULTICURRENCY FACILITY
    * PREPARATIONS FOR CITY CHIC'S PROPOSED CAPITAL RAISE REMAIN
ONGOING
    * TRADING OF SECURITIES OF CITY CHIC WILL REMAIN IN TRADING
HALT
WHILE CAPITAL RAISE PREPARATIONS CONTINUE
    * SEES FY24 PROFORMA ADJUSTED EBITDA POST-AASB16 FROM
CONTINUING
OPERATIONS (IE, EXCLUDING AVENUE AND EVANS) IS LOSS OF A$9.3
MILLION

Source text for Eikon:  ID:nASX6SS8xw 
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