March 4 (Reuters) - Valence Industries Ltd VXL.AX :
* "Taken steps to minimise cash outgoings by further reducing operating and head office costs"
* Says "retained a limited number of key staff to continue planning for the necessary work"
* Continued to actively investigate corporate transactions, possible offers for and both debt and equity capital raising options
* Company's shares will remain suspended from trading until completion of the rights issue, scheduled for 29 April 2016
* Source text for Eikon ID:nASX6N9hK1