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BRIEF-Moq Says Exec Team & Board Will Take Pay Reductions

Published 21/04/2020, 09:16 am
Updated 21/04/2020, 09:18 am
© Reuters.

April 21 (Reuters) - MOQ Ltd MOQ.AX :

* MOQ LTD - EXECUTIVE TEAM AND BOARD WILL TAKE PAY REDUCTIONS

* MOQ LTD - CEO REMUNERATION WILL BE REDUCED BY 40% FOR SIX COMMENCING FROM MAY 1, 2020

* MOQ LTD - A HIRING FREEZE HAS BEEN INSTITUTED, WITH SOME 14 VACANCIES TO BE LEFT UNFILLED

* MOQ LTD - A MAJORITY OF DISCRETIONARY EXPENDITURE SUCH AS TRAVEL, TRAINING AND ENTERTAINMENT HAVE BEEN HALTED

* MOQ LTD - EXECUTIVE TEAM SALARIES WILL BE REDUCED BY 20% FOR 6 MONTHS STARTING MAY 1, 2020

* MOQ LTD - EXECUTIVE TEAM SALARIES WILL BE REDUCED BY 20% FOR SIX MONTHS COMMENCING FROM MAY 1, 2020

* MOQ LTD - NON-EXECUTIVE DIRECTOR REMUNERATION WILL BE WAIVED FOR SIX MONTHS FROM MAY 1, 2020

* MOQ LTD - MAY MAKE FURTHER REDUCTIONS IN FUTURE IF REQUIRED IN EXPENDITURE ITEMS

* MOQ LTD - TECHNOLOGY SALES REVENUES CONTINUE TO BE SLUGGISH AND COULD BE IMPACTED IN Q4 BY COVID-19 PANDEMIC

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