Fund manager HMI Capital has sold its holding in outdoor media specialist oOh!Media.
Mick Hellman, HMI's managing partner, is stepping down from the board.
He joined the board in April 2020 when HMI Capital provided strong support to the company’s $167 million capital raising in the early days of the COVID-19 pandemic.
oOh! Chair Tony Faure: "On behalf of the Board I want to acknowledge and thank Mick for his contribution to the Company over the past two years and wish him every future success.”
AFR Street Talk reports the sale of the 10% plus stake brought in almost $100 million.
oOh!media lst month reported results for 2021, with revenue up 18.1% to $503.73 million compared to 2020, impacted by the pandemic.
Reported loss after tax of $10.3 million compared to loss of $36.2 million in prior year.
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