Modivo To Book H1 Impairment Of 287.6 Million Zlotys On Worldbox

By Reuters News

Sept 28 (Reuters) - Modivo SA MDVP.WA:

  • SAID ON FRIDAY THAT IT WOULD RECOGNIZE 287.6 MILLION ZLOTY CONSOLIDATED IMPAIRMENT CHARGE IN H1 FINANCIAL RESULTS RELATED TO WORLDBOX DUE TO SLOWER EXPANSION AND STRATEGIC FOCUS ON OFF-PRICE SEGMENT

  • IMPAIRMENT IS NON-CASH AND HAS NO IMPACT ON LIQUIDITY OR CREDIT COVENANTS

  • MICHAL KUJAWA RESIGNS AS WORLDBOX CEO, DARIUSZ MILEK INTENDED TO BE APPOINTED AS SUCCESSOR


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