GREY:ALARF - Post by User
Post by
borne2runon Mar 05, 2020 6:57pm
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Post# 30772803
Q4 Results Released
Q4 Results ReleasedDecent quarter but add ccComm to the list of non-payers.
May be litigation with respect to Sandbox, so management won't be able to provide much colour on the circumstances which led to a quick sale.
The total loss on assets held for sale related to the Sandbox sale recorded in the three months and year ended December 31, 2019 was US$35.1 million (CAD$45.9 million), or US$26.5 million (CAD$34.6 million) net of tax. The loss was much higher than expected due to a material reduction in the original offered purchase price. Alaris and Sandbox evaluated all options following the price reduction, including foregoing the sale and continuing with the business. This would have required putting significantly more capital at risk with no guarantee of a better outcome for stakeholders than what was achieved with the sale. On March 4, 2020, the Corporation initiated a dispute process that could lead to legal proceedings against the co-founders of Sandbox, asserting damages incurred by Alaris and Sandbox Acquisitions LLC. Due to the ongoing legal matters, Alaris will not be able to provide comments on anything outside of the financial impact the Sandbox Sale had on Alaris' Q4 2019 earnings.
https://web.tmxmoney.com/article.php?newsid=5641765835119328&qm_symbol=AD