Brief: Nutritional Growth Solutions Announces Strategic Restructure

Nutritional Growth Solutions

09/05/2023 01:55

May 9 (Reuters) - Nutritional Growth Solutions Ltd
 NGS.AX :
    * STRATEGIC RESTRUCTURE TO SIGNIFICANTLY REDUCE COSTS &
CAPITAL
RAISE TO FUND NORTH AMERICAN EXPANSION
    * RESTRUCTURING PROGRAM IS EXPECTED TO PROVIDE A SIGNIFICANT
REDUCTION IN COSTS WITHOUT IMPACTING UPON SALES
    * RESTRUCTURING PROGRAM INCLUDES REORGANISATION AND
SIMPLIFICATION
OF CO'S CORPORATE OPERATIONS
    * RESTRUCTURING PROGRAM EXPECTED TO PROVIDE SIGNIFICANT
REDUCTION
IN MANAGEMENT POSITIONS ACROSS BUSINESS
    * UNDERTAKEN A PLACEMENT TO INVESTORS RAISING A TOTAL OF
A$1.2
MILLION
    * CHAIRMAN DAVE FENLON, NON-EXECUTIVE DIRECTOR PETER OSBORNE
ELECTED TO BE PAID REDUCED FEES IN DEFERRED EQUITY
    * UNDERTAKEN PLACEMENT FOR RAISING TOTAL OF A$1.2 MILLION
    * COMPANY SEEKS TO FURTHER EXPAND ITS SALES ACTIVITIES IN
U.S.

Source text for Eikon:  ID:nASX8sPqWr 
Further company coverage:  NGS.AX 

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