May 29 (Reuters) - Freedom Foods Group Ltd FNP.AX :
* CEO TO FOREGO HIS ENTITLEMENT TO HIS OPTIONS INCENTIVE PLAN
* SEES PROVISION OF ABOUT $4M WILL BE REQUIRED TO BE CREATED IN 2H FY20 IN RESPECT OF AN EXPORT ACCOUNT
* PROGRESSED RESHAPING OF COMMERCIAL, ORGANISATIONAL STRUCTURES; ACTIONS RESULTED IN SOME REDUNDANCIES ACROSS BUSINESS
* EXPECTS TO REALISE MATERIAL CASH COST SAVINGS INTO FY 2021 FROM INITIATIVES
* FY EARNINGS RESULT WILL BE MATERIALLY IMPACTED BY COVID 19 ISSUES & ONE OFF CHARGES
* EXPECTS TO REALISE MATERIAL CASH COST SAVINGS INTO FY21 FROM INITIATIVES IN OPERATIONS
* SEES TOTAL CAPEX IN FY2020 TO BE IN RANGE OF $120 MILLION TO $130 MILLION
* SEES MATERIALLY REDUCED CAPITAL EXPENDITURE PROGRAM IN FY2021
* DECIDED TO CANCEL DIVIDEND ANNOUNCED ON 28 FEB
* DOES NOT ANTICIPATE PAYING A FULL YEAR DIVIDEND
* INITIAL ESTIMATES INDICATE WRITE DOWN OF ABOUT $25 MILLION IN INVENTORIES