Brief: Moelis Australia Says Board Members Took Temporary 25% Cut In Fixed Compensation

MA Financial

03/04/2020 02:38

April 3 (Reuters) - Moelis Australia Ltd  MOE.AX :
    * BOARD MEMBERS & JOINT CEOS TOOK TEMPORARY 25% REDUCTION IN
THEIR
FIXED COMPENSATION WITH EFFECT FROM APRIL
    * MAJORITY OF STAFF AGREED TO ACCEPT SAME OR SMALLER
TEMPORARY
REDUCTIONS IN SALARY BASED ON SENIORITY
    * CO'S RETAIL SHOPPING CENTRES ARE FACING VERY DIFFICULT
TRADING
CONDITIONS GIVEN IMPACT COVID-19
    * REDCAPE HOTEL GROUP HAS BEEN SIGNIFICANTLY IMPACTED BY
GOVERNMENT MANDATED TEMPORARY CLOSURE OF AUSTRALIAN HOTELS

Source text https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=02222000
Further company coverage:  MOE.AX 

 (Reuters.Briefs@thomsonreuters.com)