that listed on the ASX six years ago faces an uncertain future as it completes a strategic review and restructuring as its sharemarket capitalisation has dropped below $9 million.
Broo, which sells Broo Premium Lager and Australia Draught and champions an Australiana theme with a silhouette of a kangaroo on the label, is set to come out of a trading halt on the ASX on Wednesday. Kent Grogan stepped down as CEO of Broo Ltd last month but is still with the company as general manager of the Broo Beer division.Broo suffered a heavy interim loss of $2.9 million. It has a new set of directors controlling the boardroom after founder andstepped down as chief executive on April 8 to take on a lesser role as general manager of Broo Beer.
The new chairman is Kobe Li, who had previously spent eight years at the ASX overseeing compliance by companies with the exchange’s listing rules.Another director, David Zhu, has been made executive director. They represent the interests of 61 Corporate Advisory, which has been granted 30 million unlisted options in the company at an exercise price of 2.5¢, expiring in January 2025.
Another new director appointed last month is George Karafiotis, who is also CEO of the ASX-listed infant formula company Wellnex.
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