May 7, 2020 / 6:42 AM / 23 days ago

BRIEF-Reach4entertainment Enterprises Continues Dialogue With Lending Facility Provider For Ongoing Facility

May 7 (Reuters) - Reach4Entertainment Enterprises Plc :

* IT IS TOO EARLY TO ACCURATELY ASSESS FINANCIAL IMPACT THAT DISRUPTION WILL HAVE ON FY 2020

* MANAGEMENT HAS EXPLORED FUNDING OPTIONS

* CONTINUE TO HAVE POSITIVE DIALOGUE WITH LENDING FACILITY PROVIDER, PNC BUSINESS CREDIT, REGARDING ONGOING FACILITY

* IF OUTBREAK, CONSEQUENT REDUCED TRADING WERE TO CONTINUE BEYOND 2020, BOARD WOULD IMPLEMENT FURTHER COST CUTTING MEASURES.

* ALL R4E PLC SENIOR EXECUTIVES HAVE TAKEN 30-40% REDUCTION IN SALARIES

* SALARY REDUCTIONS OF BETWEEN 20-40% IMPLEMENTED FOR APPROXIMATELY 30% OF STAFF WITH ALL BONUSES BEING DEFERRED

* ALL NON-EXECUTIVE DIRECTORS HAVE WAIVED THEIR FEES Source text for Eikon: Further company coverage:

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