Brief: Bonvests Holdings Says Current FY Results Of Group Will No Doubt Be Adversely Affected By Covid-19

Bonvests Holdings

25/03/2020 10:34

March 25 (Reuters) - Bonvests Holdings Ltd  BVHS.SI :
    * COVID-19 WILL NEGATIVELY IMPACT DEMAND FOR CORPORATE AND
LEISURE
TRAVELERS IN OUR HOTELS AND RESORTS
    * GROUP'S RENTAL DIVISION WILL ALSO BE NEGATIVELY AFFECTED
    * STAFF HAVE TAKEN TEMPORARY PAY CUTS RANGING FROM 10% TO
50% OF
THEIR BASIC MONTHLY SALARY
    * NON-EXECUTIVE AND INDEPENDENT DIRECTORS WOULD VOLUNTARILY
TAKE A
REDUCTION OF 10% OF DIRECTORS' FEES FOR FY2019
    * TO RESCIND PROPOSED DIVIDEND IN RESPECT OF FINANCIAL YEAR
ENDED
31/12/19
    * GROUP'S HOTEL AND RESORT BUSINESS HAVE BEEN SERIOUSLY
AFFECTED
    * GROUP'S FINANCIAL RESULTS AND CASH RESOURCES WOULD
PROGRESSIVELY
AND SERIOUSLY BE NEGATIVELY IMPACTED AS OUTBREAK CONTINUES
    * RESULTS OF GROUP FOR CURRENT FINANCIAL YEAR WILL NO DOUBT
BE
ADVERSELY AFFECTED BY COVID-19 SITUATION

Source text for Eikon:  ID:nSN76Ry1Z 
Further company coverage:  BVHS.SI 

 ((Reuters.Briefs@thomsonreuters.com;))