Brief: Melcor & The REIT Announce Measures Taken To Respond To Current Economic Situation

Melcor Developments

25/03/2020 21:15

March 25 (Reuters) - Melcor Developments Ltd  MRD.TO :
    * MELCOR & THE REIT ANNOUNCE MEASURES TAKEN TO RESPOND TO
CURRENT
ECONOMIC SITUATION
    * MELCOR DEVELOPMENTS LTD - 47% REDUCTION TO REIT'S APRIL
DISTRIBUTION, ANNOUNCED MARCH 20, 2020
    * MELCOR DEVELOPMENTS LTD - 17% REDUCTION TO MELCOR'S
DIVIDEND
ANNOUNCED MARCH 11, 2020
    * MELCOR DEVELOPMENTS LTD - BOARD REMUNERATION REDUCTION FOR
BOTH
COMPANIES
    * MELCOR DEVELOPMENTS LTD - TEMPORARY LAY-OFF NOTICES GIVEN
TO
APPROXIMATELY 25% OF FULL-TIME STAFF
    * MELCOR DEVELOPMENTS LTD - REDUCTION IN REMUNERATION FOR
ALL
REMAINING STAFF
    * MELCOR DEVELOPMENTS LTD - DEFERRED ALL CAPITAL SPENDING
    * MELCOR DEVELOPMENTS LTD - ANTICIPATE DELAYED OPENINGS OF
GOLF
COURSES UNDER MELCOR MANAGEMENT
    * MELCOR DEVELOPMENTS LTD - WORKING WITH ALL CLIENTS AND
STAKEHOLDERS ON A CASE BY CASE BASIS

Source text for Eikon:  ID:nGNX9DqBhL 
Further company coverage:  MRD.TO 

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