Heavitree Brewery PLC COVID-19 Announcement (6707G)
March 18 2020 - 10:30AM
UK Regulatory
TIDMHVT
RNS Number : 6707G
Heavitree Brewery PLC
18 March 2020
Heavitree Brewery PLC (the "Company")
Trood Lane
Matford
Exeter
Devon EX2 8YP
Date: 18 March 2020
Contact: Graham Crocker - Managing Director 01392 217733
Nicola McLean -Company Secretary 01392 217733
Patrick Castle /Anita Ghanekar - Shore Capital - 0207 408
4090
COVID-19 update
Heavitree Brewery PLC (the "Company") trades as a tenanted pub
estate. Following the Company's recent announcement of its year end
result for the financial year to 31 October 2019, the Company has
continued to perform in line with its expected budgets.
However, in very recent days, following the Government's
announcements, our tenanted estate has experienced a decline in
sales, although as a fully tenanted estate at this stage we do not
have like for like figures. Accordingly, having engaged closely
with our tenants, the Board anticipates a material deterioration in
the estate's performance over the coming months. Given the high
level of current uncertainty it is not possible to quantify at this
stage the precise impact on our Business as a whole.
Therefore, to minimise the impact of COVID-19 and to preserve
cash, the Company is taking appropriate action to remove
non-critical costs from the business.
The Company is working closely with its tenants to interpret the
daily announcements from Government and how this assistance might
best be utilised as well as offering direct help with the immediate
deferral of rent payments.
ISIN: GB0004182506 for Ordinary Shares
ISIN: GB0004182720 for 'A' Limited Voting Ordinary Shares
Ends.
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END
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