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BRIEF-Linius Technologies Updates On Impact Of Covid 19

Published 17/03/2020, 11:46 am
© Reuters.

March 17 (Reuters) - Linius Technologies Ltd LNU.AX :

* COMMERCIAL UPDATE AND IMPACT OF COVID 19

* IMPLEMENTED MEASURES TO REDUCE OPERATIONAL EXPENDITURE

* EXPECTS ALL PERSONNEL TO BE WORKING FROM HOME IN NEAR FUTURE AS A PRECAUTION TO COVID-19, BUSINESS CONTINUES

* MADE A SERIES IMMEDIATE SPECIFIC COST REDUCTIONS EXTENDING OPERATIONAL RUNWAY THROUGH FINANCIAL PERIOD Q1 2021

* BOARD & SENIOR MANAGEMENT TO TAKE SIGNIFICANT PAY CUTS IN SHORT TERM RANGING FROM 20% TO 80% OF TOTAL COMPENSATION

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