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BRIEF-Maxar Technologies Responds To Shareholders After Short-Seller Campaign

Published 2018-08-24, 06:19 a/m
© Reuters.  BRIEF-Maxar Technologies Responds To Shareholders After Short-Seller Campaign
MAXR
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Aug 24 (Reuters) - Maxar Technologies Ltd MAXR.TO :

* MAXAR TECHNOLOGIES - RESPONSE TO SHAREHOLDERS AFTER SHORT-SELLER CAMPAIGN BY HEDGE FUND

* MAXAR TECHNOLOGIES LTD - HAS AMPLE LIQUIDITY TO SUPPORT OPERATIONS

* MAXAR TECHNOLOGIES LTD -ON TARGET TO ACHIEVE $25 MILLION IN COST SYNERGIES IN 2018

* MAXAR TECHNOLOGIES LTD -REMAINS CONFIDENT IN ITS RUN RATE TARGET OF $60 TO $120 MILLION IN REVENUE AND COST SYNERGIES BY END OF 2019

* MAXAR - REVIEW BY AUDIT COMMITTEE OF FINANCIAL STATEMENTS UNDER IFRS FOUND NO MATERIAL ERRORS RELATED TO SPRUCE POINT CLAIMS

* MAXAR - IN RESPONSE TO ACCOUNTING CLAIMS MADE IN SPRUCE POINT REPORT, AUDIT COMMITTEE UNDERTOOK REVIEW OF FINANCIAL STATEMENTS

* MAXAR TECHNOLOGIES LTD - CAPEX ARE EXPECTED TO BE REDUCED SIGNIFICANTLY IN 2021 TO 2023 TIMEFRAME

* MAXAR TECHNOLOGIES - EXPLORING STRATEGIC ALTERNATIVES REGARDING FUTURE OF GEO COMMUNICATIONS SATELLITE LINE OF BUSINESS

* MAXAR - ALTERNATIVES UNDER CONSIDERATION INCLUDE PARTNERING WITH ANOTHER SATELLITE MANUFACTURER, SALE OF GEO SATELLITE, EXIT OF IT ON SOME CONDITIONS

* MAXAR-PALO ALTO FACILITIES "SIGNIFICANTLY OVER-SIZED"; "UNDER-ABSORBED OVERHEAD COSTS" OWED TO LOWER PROFITABILITY,NEGATIVE CASH FLOWS IN SPACE SYSTEMS

* MAXAR TECHNOLOGIES LTD - MONETIZATION OF REAL ESTATE ASSETS IN PALO ALTO ESTIMATED TO BE $150 MILLION TO $200 MILLION

* MAXAR TECHNOLOGIES - DECISION ON FUTURE STRATEGIC DIRECTION OF GEO COMMUNICATIONS SATELLITE BUSINESS EXPECTED BY END OF 2018

* MAXAR TECHNOLOGIES LTD - CAPEX EXPECTED TO BE REDUCED SIGNIFICANTLY IN 2021 TO 2023 TIMEFRAME

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