Friday, 29 March 2024

Announcement

GENERAL: MGL: Restructure Confirmation and Board Change

12 Jul 2016 09:07NZX
Restructuring:

Following our announcement of 31 May, Mercer Group (NZX:MGL) confirms that,
after a consultation process with employees, it is proceeding with its
restructure, comprising:

o Consolidation of design and engineering to Christchurch
o Consolidation of all machines manufacturing to Christchurch
o Restructuring of New Plymouth operations to be right sized for the current
market environment

MGL is confident that the difficult decisions being made are moving the
company closer to its strategy and vision of being a designer and supplier of
innovative food processing and packaging solutions, while also advancing
S-Clave towards commercialisation.

Board Change:

Humphry Rolleston has elected to retire as a director of MGL in order to
avoid any potential conflicts of interest he may have as MGL moves towards
its capital restructuring to be undertaken over the next four months.

For further information contact
Richard Rookes, CEO, 021 414 016
End CA:00285552 For:MGL    Type:GENERAL    Time:2016-07-12 09:07:19
Views: 135
Mercer Group Limited Ordinary Shares
 0.4600 Change:
0.00
0.00%
 
Open:0.4600 
High:0.4600 
Low:0.4600 
Volume:0 
Last Traded:07/02/18 09:08:50 
Bid:0.4200 
Ask:0.4600 
52-Wk High:0.5100 
52-Wk Low:0.3000