March 26 (Reuters) - PARKD Ltd PKD.AX :
* ANNOUNCES COST REDUCTION MEASURES
* DIRECTORS OF COMPANY WILL DEFER PAYMENT OF ALL DIRECTORS' FEES UNTIL END OF THIS FINANCIAL YEAR
* MEASURES WILL DELIVER AN ESTIMATED 25% REDUCTION IN OVERHEAD EXPENDITURE
* EXECUTIVES AND SENIOR MANAGEMENT WILL TAKE A COMBINED 20% REDUCTION IN SALARIES
* DISCRETIONARY SPENDING WILL BE ELIMINATED AND A FREEZE ON CAPITAL EXPENDITURE AND RECRUITMENT WILL BE PUT IN PLACE
* WELL PLACED TO PARTICIPATE IN INFRASTRUCTURE PROJECTS INCLUDING FEDERAL GOVERNMENT'S $650 MILLION NATIONAL COMMUTER PARKING PROJECT
* ADVISES THAT ITS DESIGN AND CONSULTING SERVICES HAVE BEEN UNAFFECTED BY COVID-19