- Oil company Serinus Energy said its directors have agreed to extend the temporary reduction in salaries and fees previously announced on 27 April this year.

The company announced the reductions will remain in place due to the current economic environment created by COVID-19 and compounded by low commodity prices.

Among the ongoing temporary measures reviewed and agreed by board, with effect from 1 July 2020 until 30 September 2020, are a 20% reduction in the base salary for executive directors Jeffrey Auld and Andrew Fairclough, for which they will receive ordinary shares in the company in lieu of the equivalent amount of salary deducted.

The non-executive directors will also take a temporary 25% reduction in fees for the same period.

At 9:22am: [LON:SENX] Serinus Energy Plc Ord Npv share price was 0p at 7.5p

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