Brief: Sescom Resolves To Halt FIXFM Segment Operations

Sescom SA

10/08/2022 16:28

Aug 10 (Reuters) - Sescom SA  SESA.WA :
    * RESOLVES TO BEGIN ACTIVITIES LEADING TO MERGER OF FIXFM
AND
COMPANY
    * DECISION DUE TO CONCENTRATION OF GROUP'S ASSETS ON HYDRO
TECH,
AND FACILITY MANAGEMENT SEGMENTS
    * FIXFM SEGMENT HAS NOT REACHED ITS PROFITABILITY LEVEL AND
BROUGHT NET LOSS OF 1.5 MILLION ZLOTYS ON CONSOLIDATED LEVEL
    * ALSO RESOLVES TO DISCONTINUE FINANCING OF SEGMENT OF
MAINTENANCE
SERVICES FOR INDIVIDUAL CLIENTS AND SMALL BUSINESS
    * RESOLVES TO BOOK 3.3 MILLION ZLOTYS WRITE-DOWN ON
INVESTMENT IN
FIXFM DUE TO SAID DECISIONS
    * SAID WRITE-DOWN WILL AFFECT CO'S STANDALONE Q3 FIN RESULTS

Source text for Eikon:  ID:nEM6ZBR2Va 
Further company coverage:  SESA.WA 

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