Part of the weakness in sales reflected adverse currency movements.
Coats' commitment to retain the cash balance is conditional on the regulator withdrawing the warning notices.
Shareholders in Coats Group, formerly GPG, have another important decision to make.
The company wants to de-list from the ASX and NZX in June next year.
Delisting from the NZX would herald a final chapter in the life of GPG and Sir Ron Brierley’s legacy in the New Zealand capital markets.
The Meeting Place of Intelligent Business