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BRIEF-Cathedral Energy Services Says CEO And EVP Salary Reduced By 25%

Published 2020-04-20, 06:21 a/m
© Reuters.
ACX
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April 20 (Reuters) - Cathedral Energy Services Ltd CET.TO :

* CATHEDRAL ENERGY SERVICES CORPORATE UPDATE

* CATHEDRAL ENERGY SERVICES LTD - CEO AND EVP SALARY REDUCED BY 25%

* CATHEDRAL ENERGY SERVICES LTD - BOARD RETAINER FEES REDUCED BY 25%

* CATHEDRAL ENERGY SERVICES LTD - 22% HEAD COUNT REDUCTION FOR OFFICE AND SHOP STAFF

* CATHEDRAL ENERGY SERVICES LTD - CANADIAN NON-FIELD STAFF MOVED TO 4-DAY WORK WEEK AND CORRESPONDING 20% REDUCTION IN SALARY

* CATHEDRAL ENERGY SERVICES LTD - 15% REDUCTION IN BASE SALARY FOR U.S. MANAGERS

* CATHEDRAL ENERGY SERVICES LTD - ELIMINATED COMPANY MATCHING CONTRIBUTION TO EMPLOYEE RETIREMENT SAVINGS PLANS

* CATHEDRAL ENERGY SERVICES LTD - SUSPENDED MOTOR REPAIRS AT EMERALD PARK, SASKATCHEWAN FACILITY

* CATHEDRAL ENERGY SERVICES LTD - REDUCED EXPENDITURES ON CAPITAL ASSETS AND EXPECT "NET EQUIPMENT ADDITIONS" TO BE A CASH INFLOW

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