BUZZ-Australia's Deep Yellow dives as CEO Borshoff steps down

Reuters
Oct 20
BUZZ-Australia's <a href="https://laohu8.com/S/DYLLF">Deep Yellow</a> dives as CEO Borshoff steps down

** Shares of Australia's Deep Yellow DYL.AX fall as much as 19.4% to A$1.87, their biggest intraday pct loss since March 4, 2022

** Stock hits its lowest level since September 15

** DYL stock is worst performer in the ASX 200 benchmark

** The uranium explorer says John Borshoff will step down as managing director and CEO but remain as an adviser until end of November

** Appoints current CFO Craig Barnes as the acting chief

** Adds that Borshoff had five decades of contribution in the uranium industry, including the founding of rival Paladin Energy

** About 6.6 million shares change hands, 1.2x the 30-day average

** Stock last down ~17%, trimming YTD gains to 70%

(Reporting by Sneha Kumar in Bengaluru)

((Sneha.kumar@thomsonreuters.com;))

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