Brisbane City Council has voted to approve a 10-year street furniture contract with Adshel.
Adshel parent company oOh!media confirmed the win in a statement.
Speaking on the contract, an oOh!media spokesperson said: “oOh!media notes media reporting today suggesting that the Brisbane City Council has announced a ten-year street furniture contract with Adhsel the street furniture and transport Out of Home company oOh! recently acquired.
“As announced by oOh! on 25 June 2018, Adshel was at that time tendering to renew the Brisbane City Council contract, having submitted a proposal mid-June 2018 as part of a competitive tender process.
“While binding documentation has not yet been executed by the parties, oOh! has been informed that the Brisbane City Council voted to approve the contract with Adshel on 27 November 2018.
“oOh!media confirms that it is in compliance with the ASX Listing Rules, in particular, Listing Rule 3.1 and will keep shareholders fully informed in accordance with its continuous disclosure obligations.”
The news comes just a week after oOh!media confirmed Adhsel CEO Mike Tyquin would be departing the company as part of a larger leadership restructure.
Brendon Cook, CEO of oOh!, said at the time the new structure centered on serving all of the media company’s customers.
“We are blessed to have a depth of talent who will be vital to the success of the business moving forward, although unfortunately, the overlap in talented senior executives means some will not be staying in the business such as Adshel CEO Mike Tyquin, who will finish at the end of the year to pursue other opportunities.
“Mike is a talented business leader and has been a big part of the out-of-home evolution for many years, both leading Adshel and at the helm of EYE in Australia and New Zealand.
“Over the years, Mike has been instrumental in establishing Australia’s first out-of-home rail proposition, delivered the world’s first small-format digital network, and in recent times was behind Adshel’s digitisation, data and automation transition, and has been a great fellow board member of the OMA.
“Mike has been a true leader and contributor to the business during the integration of Adshel in to oOh! and I thank him for that. I can wish nothing but the best for Mike in his future endeavors.”