March 26, 2020 / 6:01 AM / 12 days ago

BRIEF-Environmental Group Says Andrew Arapakis Will No Longer Be Joining Company As CEO

March 26 (Reuters) - Environmental Group Ltd:

* ENVIRONMENTAL GROUP LTD- ANDREW ARAPAKIS WILL NO LONGER BE JOINING COMPANY AS CEO

* ENVIRONMENTAL GROUP LTD - TO ELECT ELLIS RICHARDSON AS INTERIM MANAGING DIRECTOR

* ENVIRONMENTAL GROUP LTD - WITHDRAWS PREVIOUS EARNINGS GUIDANCE ON 18 FEB

* ENVIRONMENTAL GROUP LTD - DIRECTORS OF CO WILL FOR DURATION OF PANDEMIC RECEIVE HALF USUAL DIRECTORS FEES

* ENVIRONMENTAL GROUP LTD - THESE CHANGES IN CONJUNCTION WITH OTHER COST REDUCTION MEASURES WILL DECREASE CORPORATE OVERHEADS BY OVER $0.7MLN

* ENVIRONMENTAL GROUP- EXPECTS A COST EXAMINATION EXERCISE TO RESULT IN FURTHER ADDITIONAL SAVINGS IN OVERHEAD AND OPERATIONAL EXPENDITURES OF OVER $1M

* ENVIRONMENTAL GROUP LTD - FOR TAPC UNIT, LOOKING TO DIVERT STAFF WHERE POSSIBLE TO UNITS THAT HAVE GAINED NEW CONTRACTS TO PROTECT CORE EXPERTISE Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below