April 23, 2020 / 6:28 AM / a month ago

BRIEF-Aston Martin Plans To Reopen St Athan Manufacturing Facility On May 5

April 23 (Reuters) - Aston Martin Lagonda Global Holdings PLC:

* ASTON MARTIN LAGONDA - STRATEGY/COMPANY/OPERATIONS UPDATE

* ASTON MARTIN - PLANNED REOPENING OF PRODUCTION FACILITIES, BUSINESS PROTECTION MEASURES AND REMUNERATION

* ASTON MARTIN - INTENDS TO REOPEN ITS ST ATHAN MANUFACTURING FACILITY ON MAY 5

* ASTON MARTIN - ALSO BEEN WORKING CLOSELY WITH ITS SUPPLIERS TO SECURE SUPPLY ALIGNED TO THIS TIMING

* ASTON MARTIN - IT INTENDS TO REOPEN ITS ST ATHAN MANUFACTURING FACILITY ON MAY 5 FOLLOWING PUBLIC HEALTH WALES AND ENGLAND GUIDELINES

* ASTON MARTIN - FROM REOPENING ST ATHAN, GAYDON MANUFACTURING OPERATIONS ARE PLANNED TO RESUME LATER

* ASTON MARTIN - MAJORITY OF COMPANY’S WORKFORCE IS CURRENTLY FURLOUGHED

* ASTON MARTIN - SENIOR LEADERSHIP HAS AGREED TO A VOLUNTARY REDUCTION IN PAY

* ASTON MARTIN - EMPLOYEES WHO CONTINUE TO BE FURLOUGHED FROM 1 MAY WILL RECEIVE 80% OF THEIR BASE SALARIES FROM THEN

* ASTON MARTIN - IN HIS ROLE AS EXECUTIVE CHAIRMAN, LAWRENCE STROLL HAS ELECTED TO RECEIVE A NOMINAL SALARY ONLY, OF £1 PER ANNUM

* ASTON MARTIN - NON-EXECUTIVE DIRECTORS ARE WAIVING 35% OF THEIR FEES AND CHIEF EXECUTIVE OFFICER IS WAIVING 35% OF HIS BASE SALARY

* ASTON MARTIN - VICE PRESIDENTS ARE WAIVING 20% OF THEIR BASE SALARIES

* ASTON MARTIN - OTHER MEMBERS OF SENIOR MANAGEMENT HAVE ALSO BEEN ASKED TO VOLUNTARILY WAIVE 5%-10% OF BASE SALARY DEPENDING ON SALARY LEVEL

* ASTON MARTIN - REDUCTION IN PAY WILL BE APPLIED RETROSPECTIVELY FOR A THREE-MONTH PERIOD FROM 1 APRIL AND WILL BE KEPT UNDER MONTHLY REVIEW Source text for Eikon: Further company coverage:

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