Wow.
I am with you Lollot. I am either completely naive and misread the announcement of a pay cut and hours reduction or the previous announcements were deceptive.
My interpretation of the previous announcement was that directors were reducing hours and subsequently reducing salary by 20% The remaining salary was to be paid in shares.
One would assume that a reduction in hours would come with a reduction in salary for a cash constrained company during challenging times.
I got this very badly wrong by the looks of things.
I will go back through previous announcements when I have tome and review.
Disappointed is an understatement.
Ann: Quarterly Activities and Cashflow Report, page-8
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