April 20, 2018 / 10:22 AM / 3 months ago

BRIEF-HSBC Holdings Reduces Number Of Board Committees From Seven To Five

April 20 (Reuters) - HSBC Holdings Plc:

* REDUCING NUMBER OF BOARD COMMITTEES FROM SEVEN TO FIVE

* RESPONSIBILITIES OF CONDUCT AND VALUES COMMITTEE AND PHILANTHROPIC AND COMMUNITY INVESTMENT OVERSIGHT COMMITTEE WILL BE REASSIGNED

* WE INTEND TO MAINTAIN ANNUAL DIVIDEND AT CURRENT LEVEL FOR FORESEEABLE FUTURE

* AFTER PROVISION OF CAPITAL TO SUPPORT GROWTH OF BUSINESS AND MAINTAINING OUR DIVIDEND, WE WILL THEN CONSIDER SHARE BUY-BACKS, SUBJECT TO REGULATORY APPROVAL

* WILL UPDATE SHAREHOLDERS ON HOW WE INTEND TO EVOLVE STRATEGY AT OR BEFORE OUR HALF-YEAR RESULTS Source text for Eikon: Further company coverage:

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