NTL Cuts Remuneration Package of CEO by 35% | NZX Market Update

Because of the unprecedented situation created by the COVID-19 pandemic, the Board members of New Talisman Gold Mines Limited (NZX: NTL) has decided to take a fee cut as a cost-cutting measure. The Board has accepted a fee cut of 20% and the CEO has taken a cut of more than 35% in total remuneration package. Because of the global uncertainty and chaotic relations between the world’s largest economies, gold has become more valuable, which continues to enhance the attractiveness of New Talisman Gold Project.

Housing Minister Dr Megan Woods announced that a Residential Development Response Fund of $350 million is being established primarily to aid the residential construction sector and diminish the economic impact from coronavirus. The Residential Development Response Fund comprising of $100 million from the COVID-19 Response and Recovery Fund (CRRF) and a redirected funding of $250 million from KiwiBuild funding ensuing last year’s reset, would further ensure the developers to keep building homes, and workers employed. Furthermore, it is projected that the fund would sustain 15,000 jobs and build ~4,000 new homes.

The NZ government is all set to try renewable energy technology for public and Maori housing. In future, these houses may have their renewable energy system. The related ministries have announced a fund of NZD 28 million to be spent over four years. The investment shall be used for the installation of the system that includes solar panels and batteries in these housing societies. It will run on a trial basis to test new and innovative ways to make energy, and it will also be affordable for people.

#NewZealand #COVID19 #NTL #Kalkine

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