Brief: Deltex Medical Group Says Cost Savings Include A Significant Reduction In Headcount Across Company

Deltex Medical

14/07/2023 18:05

July 14 (Reuters) - Deltex Medical Group PLC  DEMG.L :
    * PLACING, SUBSCRIPTION AND RETAIL OFFER
    * COST SAVINGS INCLUDE A SIGNIFICANT REDUCTION IN HEADCOUNT
ACROSS
COMPANY
    * COMPANY'S EXECUTIVE DIRECTORS HAVING AGREED TO CHANGES IN
THEIR
REMUNERATION TO FURTHER CONSERVE CASH
    * IDENTIFICATION OF UP TO ABOUT £1.0 MILLION OF ANNUALISED
COSTS
SAVINGS PREDOMINANTLY THROUGH HEADCOUNT REDUCTION
    * INTENDS TO REVIEW ITS BOARD COMPOSITION IN NEAR FUTURE,
WHICH
MAY RESULT IN A REDUCTION IN NUMBER OF DIRECTORS
    * CEO & FINANCE DIRECTOR HAVE AGREED TO ABOUT 40%  AND 20 %
REDUCTION IN SALARY RESPECTIVELY FOR NEXT 18 MONTHS

Source text for Eikon:  ID:nRSN1368Ga 
Further company coverage:  DEMG.L 

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