BRIEF-Advtech Decided Not To Declare Final Dividend For FY

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BRIEF-Advtech Decided Not To Declare Final Dividend For FY

May 27 (Reuters) - Advtech Ltd ADHJ.J :

* VOLUNTARY BUSINESS UPDATE AND FEEDBACK FROM THE BOARD MEETING RESULTING IN AMENDMENT TO SPECIAL RESOLUTION 1

* COLLECTIONS WERE CIRCA 20% LOWER IN APRIL COMPARED TO SAME MONTH LAST YEAR

* MONTH-TO-DATE COLLECTIONS FOR MAY ARE 10% BELOW SAME MONTH LAST YEAR

* DECIDED NOT TO DECLARE A FINAL DIVIDEND FOR FINANCIAL YEAR ENDED 31 DECEMBER 2019 OR TO UNDERTAKE A SHARE BUYBACK

* DO NOT CONSIDER THAT DECLARING AN INTERIM DIVIDEND FOR 2020 WOULD BE APPROPRIATE DUE TO LACK OF CLARITY ON ECONOMIC OUTLOOK

* RESOLVED THAT FEES PAYABLE TO NON-EXECUTIVE DIRECTORS WILL NOT BE ADJUSTED FOR PERIOD JULY 2020 TO JUNE 2021

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