PKD parkd ltd
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News: PKD PARKD Announces Cost Cuts To Reduce Overhead Expenditure By 25%

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    26/03/20
    13:55
    Post #: 43712215

    March 26 (Reuters) - PARKD Ltd (PKD) :

    • ANNOUNCES COST REDUCTION MEASURES
    • DIRECTORS OF COMPANY WILL DEFER PAYMENT OF ALL DIRECTORS' FEES UNTIL END OF THIS FINANCIAL YEAR
    • MEASURES WILL DELIVER AN ESTIMATED 25% REDUCTION IN OVERHEAD EXPENDITURE
    • EXECUTIVES AND SENIOR MANAGEMENT WILL TAKE A COMBINED 20% REDUCTION IN SALARIES
    • DISCRETIONARY SPENDING WILL BE ELIMINATED AND A FREEZE ON CAPITAL EXPENDITURE AND RECRUITMENT WILL BE PUT IN PLACE
    • WELL PLACED TO PARTICIPATE IN INFRASTRUCTURE PROJECTS INCLUDING FEDERAL GOVERNMENT'S $650 MILLION NATIONAL COMMUTER PARKING PROJECT
    • ADVISES THAT ITS DESIGN AND CONSULTING SERVICES HAVE BEEN UNAFFECTED BY COVID-19
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