20th Apr 2020 10:29
(Alliance News) - Countryside Properties PLC on Monday said its directors have agreed to a 20% reduction in their salaries and the company has decided to establish a GBP1 million fund to support vulnerable people.
The housebuilding and urban regeneration company explained that the fund will help support local charities and groups, food banks and others providing essential local services in locations where Countryside operates.
Countryside Properties also said it has signed up to the C-19 Business Pledge as it continues to support its employees, customers and communities through this Covid-19 crisis.
The FTSE 250-listed company highlighted that all of the executive committee and the board of directors have agreed to a voluntary 20% reduction in base salary and fees from the beginning of April until at least June 1, with the equivalent cash amount to be added to the Communities Fund.
"I am proud of the response of our colleagues and partners to this unprecedented crisis. With the support of a team of volunteers from within Countryside, we hope that these funds will help support the most vulnerable people in our communities at this current time of need," said Chief Executive Iain McPherson.
Countryside Properties shares were trading 0.6% higher in London on Monday at 365.40 pence each.
The company will report its first-half results on May 14.
By Evelina Grecenko; [email protected]
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