News: MHJ Michael Hill International Says Fees For All Board Members Reduced By 50% For Remainder...

April 17 (Reuters) - Michael Hill International Ltd (MHJ) :

• FEES FOR ALL BOARD MEMBERS REDUCED BY 50% FOR REMAINDER OF FINANCIAL YEAR
• SAME STORE SALES GROWTH OF 3.1% FOR FIRST NINE WEEKS OF FY20Q3, AGAINST PRIOR YEAR
• ALL PLANNED CAPITAL EXPENDITURE CANCELLED OR DEFERRED, EXCEPT FOR ERP IMPLEMENTATION
• ALL EXECUTIVES AGREED TO 20% CUT IN REMUNERATION FOR REMAINDER OF THE FY, TO BE REVIEWED AGAIN AT 30 JUNE
• ACTIVELY ENGAGING WITH LANDLORDS IN ALL MARKETS TO SEEK RENT ABATEMENT FOR PERIOD OF CLOSE DOWN

Source text https://www.i-search.nzx.com/blobs/MHJ000000/489362/MHJ000000-320939.pdf

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