Vista Group International Limited (NZX:VGL) has taken various measures to strengthen its balance sheet to make sure that it is well positioned to face any difficult conditions in the future.
- It has successfully completed an NZD$65 million capital raise, with excellent support from its existing institutional and retail shareholders;
- The company’s Directors have voluntarily reduced their remuneration by 30%;
- More than 80% of the company’s employees volunteering to work reduced hours for reduced pay;
- The company has also cancelled final dividend of 2019 and has terminated the acquisition of further stake in Vista China.
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