The latest update is out from Beam Communications Holdings Limited ( (AU:BCC) ).
Beam Communications Holdings Limited has renegotiated the employment contract of its Managing Director, Michael Capocchi, resulting in significant cost savings of at least $240,000 annually. The new contract reduces the base salary and removes bonuses, while introducing an incentive linked to the sale of the ZOLEO joint venture. This strategic move aims to ensure leadership continuity, align interests with shareholders, and maximize the outcome of the ZOLEO sale process, ultimately benefiting stakeholders by potentially returning capital to shareholders.
More about Beam Communications Holdings Limited
Beam Communications Holdings Limited is an Australian publicly-listed company specializing in the design, development, manufacture, and distribution of satellite, cellular, and dual-mode equipment applications and services. The company has developed several world-first innovations and its products and services are used by major satellite and telecommunications companies such as Iridium, Telstra, KDDI, Inmarsat, and Thuraya. Beam also developed the award-winning ZOLEO device, which generates recurring subscription revenues.
YTD Price Performance: 58.33%
Average Trading Volume: 144,226
Technical Sentiment Signal: Buy
Current Market Cap: A$7.78M
For an in-depth examination of BCC stock, go to TipRanks’ Stock Analysis page.