SYDNEY: Photon Group has met with representatives of the 50 agencies which make up the group to outline details of the group's financial position.
The meeting, which kicked off at 9.00am today, was believed to have been attended by senior finance representatives from each of the 50 Photon Group companies. It was still underway at the time of writing.
Photon Group CEO Jeremy Philips was expected to brief companies on Photon Group's financial position and plans to convert part of the $176 million owed in earn-out payments from cash to shares.
Other items on the agenda are believed to include details about the restructure of the company after Tim Hughes stood down as executive chairman to become a non-executive director. The meeting was also expected to cover the appointment of three non-executive directors, one of which is expected to replace Hughes.
Philips was not available for comment.
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