March 19 (Reuters) - Village Roadshow Ltd VRL.AX :
* UPDATE ON COVID-19 RESPONSE
* EXTREMELY DIFFICULT TO PREDICT OVERALL CONSEQUENCE FOR FINANCIAL RESULTS OF VRL FOR FY20
* NOT POSSIBLE TO PROVIDE MEANINGFUL GUIDANCE ON GROUP'S EARNINGS AT THIS TIME
* IN RECENT WEEKS, SEEN ESCALATION OF DISRUPTION TO BUSINESSES FROM COVID-19
* MAJOR STUDIOS HAVE RESCHEDULED A NUMBER OF 2H FY20 TITLES, WILL HAVE A SIGNIFICANT ADVERSE IMPACT ON DIVISION'S TRADING
* ASKING ALL EMPLOYEES TO TAKE LEAVE TO REDUCE EMPLOYEE COSTS
* SENIOR EXECUTIVES SALARIES WILL BE REDUCED IMMEDIATELY
* SENIOR EXECUTIVE BONUSES WILL BE ZERO FOR FY20
* FREEZE ON ALL NON-ESSENTIAL RECRUITMENT, CONSULTING AND ADVISORY WORK
* FREEZE ON ALL NON-ESSENTIAL INTERNATIONAL AND DOMESTIC TRAVEL
* FREEZE ON ALL NON-ESSENTIAL UNCOMMITTED CAPITAL EXPENDITURE
* IMPLEMENTING COST REDUCTION STRATEGIES TO REDUCE POTENTIAL IMPACT OF COVID-19 ON GROUP'S EARNINGS & CASH FLOWS