Brief: Exopharm Says Implemented Number Of Cost-Reduction Measures

Entropy Neurodynamics

20/12/2022 06:03

Dec 20 (Reuters) - Exopharm  EX1.AX :
    * IMPLEMENTED NUMBER OF COST-REDUCTION MEASURES TO REDUCE
MONTHLY
COSTS OF OPERATIONS TO UNDER AROUND A$400,000 PER MONTH
    * REDUCTION IN STAFF NUMBERS BY AROUND 24 PEOPLE, DOWN FROM
AROUND
40
    * ADDITIONAL CHANGES INCLUDE DOWNSIZING OF BOARD FROM 4 TO 3
    * MD/CEO VOLUNTARILY CUTTING REMUNERATION BY ADDITIONAL 5%
OF BASE
REMUNERATION TO TOTAL REDUCTION OF 25% OFF BASE REMUNERATION

Source text for Eikon:  ID:nASXc8F8X7 
Further company coverage:  EX1.AX 
 ((Reuters.Briefs@thomsonreuters.com;))