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BRIEF-GMP says restructuring Capital Markets unit, suspends quarterly share dividend

Published 2016-01-13, 07:49 a/m
© Reuters.  BRIEF-GMP says restructuring Capital Markets unit, suspends quarterly share dividend
RCG
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Jan 13 (Reuters) - GMP Capital Inc GMP.TO :
* Restructures capital markets division and suspends quarterly common share
dividend
* Changes together with restructuring initiatives announced in November, result
in headcount reduction of 97 or 25 per cent over Q3, 2015
* Says GMP will record in Q4, 2015 a related after-tax restructuring charge of
approximately $15 million
* Says following announcement, total headcount is 291
* Annualized expense reductions from initiatives are expected to be in excess
of $40 million
* GMP to implement exit of United Kingdom, Australian operations with
closure of offices in London, Perth and Sydney

* Source text for Eikon ID:nCNWkYdpxa

* Further company coverage GMP.TO

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