April 16 (Reuters) - Bapcor Ltd BAP.AX :
* BAPCOR LTD ANNOUNCES A FULLY UNDERWRITTEN $180M PRO-RATA INSTITUTIONAL PLACEMENT
* TRADING PERFORMANCE IN MARCH WAS BELOW EXPECTATIONS WITH REVENUE GROWTH OF 11.5% VERSUS. PCP
* ANNOUNCES A NON-UNDERWRITTEN SHARE PURCHASE PLAN TO RAISE UP TO $30M
* FINANCIAL PERFORMANCE THROUGH JAN & FEB REMAINED STRONG WITH YTD REVENUE TO END OF FEB UP 12.7% VERSUS. PCP
* REDUCED BOARD AND EXECUTIVE SALARIES,STOOD DOWN STAFF OR PLACED STAFF ON LEAVE WITH TOTAL STAFF COSTS CUT IN PROPORTION TO REVENUE DECLINE
* CEASED ACQUISITIONS AND GREENFIELD ACTIVITY, WHERE POSSIBLE AND CLOSED STORES; ALSO APPROACHED LANDLORDS FOR RENT RELIEF