Bill Identity falls on discontinuing contracts in U.S., headcount reductions

Optima Technology

07/12/2021 24:18

** Shares of Australia's Bill Identity  BID.AX  fall as much
as 3.8% to A$0.265, marking their worst session since Nov 29 
    ** As a part of restructuring its U.S. business, the energy
management software maker says it will discontinue 20 U.S.
platform utility bill management contracts and will also reduce
headcount which support these contracts  urn:newsml:reuters.com:*:nASX6g2Kg5
    ** Says these actions are expected to result in an EBITDA
gain of about A$4 mln ($2.82 mln) on an annualised basis 
    ** Stock hits lowest since Nov 30 and is on track for second
consecutive session of losses 
    ** Stock down 77.6% this year as of last close 


($1 = 1.4186 Australian dollars)

 (Reporting by Tejaswi Marthi in Bengaluru)
 ((tejaswi.marthi@thomsonreuters.com))