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BRIEF-Hills Says Board Agreed To 50 Per Cent Reduction In Non-Executive Directors' Fees

Published 28/04/2020, 10:20 am
Updated 28/04/2020, 10:24 am
© Reuters.

April 28 (Reuters) - Hills Ltd HIL.AX :

* BOARD AGREED TO 50 PER CENT REDUCTION IN NON-EXECUTIVE DIRECTORS' FEES

* INITIATED DISCUSSIONS WITH LANDLORDS REGARDING TEMPORARY RELIEF OF RENTAL COSTS

* ASKED EVERY EMPLOYEE TO ACCEPT A COMPANY-WIDE REDUCTION IN SALARIES

* THOSE ON LOWEST SALARIES BEING ASKED TO SACRIFICE 10 PER CENT OF THEIR PAY

* THOSE ON HIGHEST SALARIES ASKED TO SACRIFICE 35 PER CENT OF PAY

* ALL NON-ESSENTIAL CAPEX HAS BEEN DEFERRED AND REDUCTIONS IN VARIOUS OVERHEAD COSTS CURRENTLY BEING PURSUED

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