Beach began business integration of the two companies on 1 March and said it had already identified annual savings of A$28 million (US$21 million) which will be fully realised in the 2017 financial year.
The cost savings largely come from redundancy of the majority of Sydney‐based employment positions, cessation of Drillsearch board fees, the termination of contractors and consultants, and redemption of convertible notes.
Beach
