April 2 (Reuters) - Smart Parking Ltd SPZ.AX :
* WITH LOCKDOWN IN UK, PARKING SERVICES DIVISION IS EXPERIENCING A LOWER VOLUME OF CARS UTILISING OUR MANAGED CAR PARKING FACILITIES
* TEMPORARY REDUCTION IN CAR VOLUME WILL SIGNIFICANTLY IMPACT LEVEL OF PARKING BREACH NOTICE ISSUANCE AND REVENUE RECEIVED
* IMPLEMENTED REDUCTION IN FEES FOR DIRECTORS OF 40%
* IMPLEMENTED SALARY REDUCTION OF CEO, CFO AND CTO OF 20%
* SALARY REDUCTION OF ALL OTHER STAFF OF BETWEEN 10% & 15%
* DEFERRAL OF ALL NON-ESSENTIAL PROJECTS & CAPITAL EXPENDITURE INCLUDING ROLL OUT OF TECHNOLOGY ON NEW UK PARKING SITES DURING LOCKDOWN
* IMPLEMENTED DEFERRAL OF ALL NON-ESSENTIAL PROJECTS AND CAPITAL EXPENDITURE INCLUDING ROLL OUT OF TECHNOLOGY ON NEW UK PARKING SITES
* FREEZE ON ALL RECRUITMENT AND TRAVEL EXPENSES
* COST REDUCTIONS MEASURES HAVE AN ANNUALISED REDUCTION OF AUD$6.7M IN COSTS