Brief: Redknee announces new strategic plan

Optiva

23/02/2017 12:00

Feb 23 (Reuters) - Redknee Solutions Inc  RKN.TO  
    * Redknee announces new strategic plan for long-term growth 
and sustained profitability 
    * Company intends to create two major operating units: * 
"strategic global accounts" and  "packaged and cloud solutions" 
    * Intends to wind down non-telecom operations outside scope 
of these two operating units 
    * Strategic plan includes a corporate restructuring scale of 
which is based on a go-forward revenue base of $120 million 
    * Estimates restructuring will require $60 million in 
capital that is expected to be financed through an equity raise 
    * Restructuring is expected to be completed in 2018 
    * Company also announced its intention to eliminating 
reporting on non-IFRS measures 
    * Redknee Solutions - management will review company's other 
financial and operational policies to align with new goals of 
simplification and focus 
 
Source text for Eikon:  ID:nCNWHZXqLa  
Further company coverage:  RKN.TO  
 
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