oOh!media (ASX:OML) said Auckland Transport decided to extend its out-of-home media services procurement process, according to a Tuesday filing with the Australian bourse.
Auckland Transport will now re-issue the request for proposal with modified evaluation criteria and bid structure, the filing said.
In August, oOh!media had finalized its submission in relation to the Auckland Transport tender and was awaiting the outcome.
The contract, set to expire in December, represents 4% of the company's expected revenue for the year.
oOh!media's shares rose past 2% in recent Tuesday trade.
Price (AUD): $1.21, Change: $-0.03, Percent Change: -2.42%
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.