HIL hills limited
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April 28 (Reuters) - Hills Ltd (HIL) : BOARD AGREED TO 50 PER...

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    28/04/20
    10:25
    Post #: 44295517

    April 28 (Reuters) - Hills Ltd (HIL) :

    • BOARD AGREED TO 50 PER CENT REDUCTION IN NON-EXECUTIVE DIRECTORS' FEES
    • INITIATED DISCUSSIONS WITH LANDLORDS REGARDING TEMPORARY RELIEF OF RENTAL COSTS
    • ASKED EVERY EMPLOYEE TO ACCEPT A COMPANY-WIDE REDUCTION IN SALARIES
    • THOSE ON LOWEST SALARIES BEING ASKED TO SACRIFICE 10 PER CENT OF THEIR PAY
    • THOSE ON HIGHEST SALARIES ASKED TO SACRIFICE 35 PER CENT OF PAY
    • ALL NON-ESSENTIAL CAPEX HAS BEEN DEFERRED AND REDUCTIONS IN VARIOUS OVERHEAD COSTS CURRENTLY BEING PURSUED
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