March 24 (Reuters) - Mint Payments Ltd (MNW) : WITHDRAWN ITS...

March 24 (Reuters) - Mint Payments Ltd (MNW) :

• WITHDRAWN ITS PREVIOUSLY RELEASED STATEMENTS THAT IT EXPECTS TO BE CASH FLOW POSITIVE IN 2020
• COST INITIATIVES EXPECTED TO REDUCE CO'S MONTHLY CASH OVERHEADS BY ABOUT 30%
• FOR REMAINDER OF FINANCIAL YEAR, CHAIRMAN & NON-EXEC DIRECTORS WILL TAKE NO FEES & GROUP CEO WILL TAKE 30% SALARY CUT
• IN MARCH SEEN A MATERIAL DECLINE IN TTV FROM DIRECT TRAVEL CHANNEL, EXPECT RECENT TRAVEL RESTICTIONS TO FURTHER IMPACT CO'S TTV AHEAD
• SENIOR MANAGEMENT & EXECUTIVE TEAM WILL TAKE A 20-25% SALARY CUT FOR REST OF YEAR
• FEB TOTAL TRANSACTION VALUE $78MLN VERSUS $70MLN
• MINT'S OTHER (NON-TRAVEL) CHANNELS ARE CURRENTLY PERFORMING AS BUDGETED
• IMPLEMENTING A COMPANY-WIDE COST REDUCTION PROGRAMME THAT IS EXPECTED TO REDUCE CO'S MONTHLY CASH OVERHEADS BY ABOUT 30%