Ascendis freezes staff levels as it battles crippling debt pile
The group is seeking to save money by limiting staff numbers and travel, as its debt far exceeds its market capitalisation
11 March 2020 - 09:26
UPDATED 11 March 2020 - 13:36
Ascendis Health, whose debt problems have led to a 95% fall in its share price over the past two years, said on Wednesday that it is freezing staff levels and limiting travel as it battles a debt pile that is more than 20 times its market capitalisation.
Ascendis is seeking to save R55m to R125m over the next 12 months through stringent cost-control measures, and also intends to reduce marketing spending, and accelerate the sale of its assets...
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