ASX Announcement
18 July 2014
Gordon Galt - Chairman
Stephen Bizzaca - Managing
Director - CEO
Glyn Dawkins - Non Executive
Director
Geoff Garside - Executive Director
Company SecretaryGeoff Garside
Principal ContactStephen Bizzaca - Managing
Director - CEO
Phone: 02 4629 0300
Geoff Garside - Company Secretary
Phone: 02 4629 0300
Registered office Delta SBD Limited (ACN 127 894 893) Suite 220, Centric4 Hyde Parade
Campbelltown NSW 2560
Telephone: 02 4629 0300
Facsimile: 02 4629 0399
Website: www.deltasbd.com.au
To : Australian Securities Exchange
Company Announcement
Debt Reduction Plan
As part of the company's ongoing debt reduction program Delta SBD Ltd advises shareholders that it intends to further reduce debt and improve cash flow by selling a number of pieces of equipment from the current longwall mobile fleet and mining equipment assets. The company will retain various assets for sustainable operations. Equipment will be sold via expressions of interest or auction in the current quarter.
Mr Gordon Galt, Delta SBD's Director and Chairman of the Board, commented: "The asset sale program is considered to be appropriate in the current market and is expected to result in a significant reduction of costs and improvement in cashflow. Outcomes from the sales will be advised progressively."
Yours Faithfully
Geoff Garside
Company Secretary
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