June 3, 2020 / 10:14 PM / 2 months ago

BRIEF-Vista Group International Says To Implement Restructure Of All Core Businesses

June 4 (Reuters) - Vista Group International Ltd:

* COVID-19 PANDEMIC CONTINUES TO HAVE A SIGNIFICANT IMPACT ON FILM INDUSTRY GLOBALLY, INCLUDING CUSTOMERS OF VISTA GROUP

* TERMINATING AGREEMENT TO ACQUIRE FURTHER 14.5% STAKE IN VISTA CHINA

* BEGUN CONSULTATION WITH STAFF AROUND PROPOSED NEW STRUCTURE VISTA GROUP, VISTA CINEMA, & MOVIO

* TAKEN DECISION TO IMPLEMENT RESTRUCTURE OF ALL CORE BUSINESSES

* VISTA GROUP INTERNATIONAL EXPECTS RESTRUCTURE “WILL HAVE A SIGNIFICANT IMPACT ON A NUMBER OF PEOPLE”

* IF IMPLEMENTED IN CURRENT FORM, EXPECT ANNUALISED COST SAVINGS BETWEEN NZ$12 MILLION & NZ$15 MILLION FROM REORGANISATION Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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