As announced to the Australian Stock Exchange on August 6 2018, Energy Action has engaged PwC Australia to assist the company in conducting a review of the strategic options available to the Company, which includes assessing the potential sale, joint venture or merger of the Company with or to a larger organisation that can expedite growth.
The review is being conducted as an extension of its normal course of business, and as part of investigating all growth opportunities that could benefit both shareholders and the Company’s clients.
Energy Action continues to trade profitably and has reduced debt by $3 million in FY18, and given the opportunities presented by the current energy market, and Energy Action’s uniquely scalable business model, the Board believe it is the right time to assess all available options to capitalise on the Company’s favourable market position and future growth prospects.
While the review is underway, Energy Action remains firmly committed to delivering outstanding service to our existing customers, and continuously exploring opportunities to further enhance our product and service offering.
Energy Action will continue to keep its shareholder, clients, staff and suppliers informed should material developments occur in the course of the strategic review.