March 18 (Reuters) - FBR Ltd FBR.AX :
* FBR LTD - TO COMMENCE A COST RATIONALISATION PROGRAM TO PRESERVE SHAREHOLDER VALUE
* FBR LTD - HEADCOUNT HAS BEEN SIGNIFICANTLY REDUCED ACROSS BUSINESS TO FURTHER RATIONALISE COSTS
* FBR LTD - HAVE REDUCED FBR'S FUNDING REQUIREMENTS GOING FORWARD
* FBR LTD - MEASURES IMPLEMENTED TO DATE IN ONGOING COST RATIONALISATION PROGRAM HAVE RESULTED IN REDUCTION OF ABOUT $10 MILLION PER ANNUM IN PAYROLL COSTS
* FBR LTD- SCALED BACK EXECUTIVE TEAM TO CONSIST OF MIKE PIVAC AS MANAGING DIRECTOR & CEO, MARK PIVAC AS CTO, AND AIDAN FLYNN AS CFO
* FBR LTD - TO POSTPONE FIRST DISPLAY HOME BUILD UNTIL COVID-19 HEALTH CRISIS PASSES
* FBR - WILL PROGRESS WITH TECHNOLOGY AND GLOBAL COMMERCIALISATION PLANS, BUT WITH MUCH LOWER COST BASE