The Conversation (0)
- WORLD EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Top Stocks
Top Resource Stocks
Top Tech Stocks
Top Life Science Stocks
Trending
Trending Articles
Trending Press Releases
Trending Companies
Trending Reports
Resource
Popular Lists
Investing Ideas
Outlook Reports
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
Investing Guides
Tech
Popular Lists
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
Investing Ideas
Outlook Reports
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
Investing Guides
Life Science
Popular Lists
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
Outlook Reports
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Investing Guides
Magnis Energy Technologies (ASX:MNS) announces that the Board has taken measures to significantly reduce all non-essential operating expenses in light of current market conditions, caused by the COVID-19 pandemic.
Magnis Energy Technologies Limited (“Magnis”, or the “Company”) (ASX:MNS) announces that the Board has taken measures to significantly reduce all non-essential operating expenses in light of current market conditions, caused by the COVID-19 pandemic.
With recent changes to the composition of the Board, employment changes and the measures announced today, there will be cash savings of approximately $1.3 Million per annum. The latest contributors to the savings include directors fees deferred for Board members and salary reductions to some members in the executive management team.
Chairman Frank Poullas commented: “The Board has taken these swift measures as we are living in unprecedented times and whilst financial resources have decreased, we have a hard-working committed group, together to progress our projects toward financing and completion.”
This announcement has been authorised for release by the Board of Magnis Energy Technologies Ltd.
For further information:
Frank Poullas
Chairman
Ph: +61 2 8397 9888
www.magnis.com.au
Click here to connect with Magnis Energy Technologies (ASX:MNS) for an Investor Presentation.
LMR:CA
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.