February 12, 2020 / 3:15 PM / 6 days ago

BRIEF-Veeko International Holdings Says Executive Directors' Pay To Be Cut By 60% For Three Months

Feb 12 (Reuters) - Veeko International Holdings Ltd :

* EXPECTED THAT GROUP’S LOSSES FOR YEAR ENDING 31 MARCH 2020 WILL FURTHER INCREASE

* ANOUNCES EFFECT OF NOVEL CORONAVIRUS EPIDEMIC ON BUSINESS OPERATIONS

* GROUP HAS SUSPENDED OPERATION OF CERTAIN STORES DUE TO CORONAVIRUS OUTBREAK

* REMUNERATION OF ALL EXECUTIVE DIRECTORS OF CO TO BE REDUCED BY 60% FOR THREE MONTHS FROM 1 FEB

* EXPECTS MASK PRODUCTION LINES CAN BE IN OPERATION BY MARCH 2020

* ENTERED INTO A SALE AND PURCHASE AGREEMENT FOR ACQUIRING TWO FULLY AUTOMATIC MASK PRODUCTION MACHINES Source text for Eikon: Further company coverage:

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