March 26, 2020 / 7:30 PM / 14 days ago

BRIEF-Granges AB Gränges Withdraws Dividend Proposal, Postpones Annual General Meeting

March 26 (Reuters) - Granges AB:

* GRÄNGES WITHDRAWS DIVIDEND PROPOSAL, POSTPONES ANNUAL GENERAL MEETING

* DEMAND ON GRÄNGES’ END-CUSTOMER MARKETS IS ADVERSELY AFFECTED BY OUTBREAK OF COVID-19

* AGM WILL BE HELD AT A LATER DATE, BUT NO LATER THAN 30 JUNE, 2020 IN ACCORDANCE WITH CURRENT LEGISLATION

* TEMPORARY LAYOFFS AND REDUCED WORKING HOURS ARE BEING IMPLEMENTED ACROSS GRÄNGES’ OPERATIONS, IN ACCORDANCE WITH LOCAL REGULATIONS

* CO WILL PUBLISH A NOTICE TO AGM NO LATER THAN FOUR WEEKS BEFORE AND NO EARLIER THAN SIX WEEKS BEFORE MEETING

* CURRENTLY TOO EARLY TO QUANTIFY POTENTIAL IMPACT ON GRÄNGES’ OPERATIONS AND EARNINGS FOR 2020

* ALL TEMPORARY EMPLOYMENTS AND MOST OF CONTRACTED CONSULTANTS WILL BE TERMINATED Source text for Eikon: Further company coverage:

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