(Alliance News) - The following is a round-up of updates by UK companies on the impact of the Covid-19 pandemic, issued on Thursday and not separately reported by Alliance News:
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Howden Joinery Group PLC - kitchen supplier - Reopening selected depots to provide support to trade customers. Sales in period to March 21 period broadly flat, slightly down on a same depot basis. Withdraws market guidance for the remainder of year ending December 26. To suspend share buyback programme and withdraw 9.1 pence per share final payout for financial 2019. Re-evaluating capital expenditure plans.
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Pembridge Resources PLC - Canada focused copper-gold-silver miner - Says no virus cases at the Minto mine, but adopting measures safeguard all employees at mine. Cancels all non-essential travel to mining site for employees, contractors and visitors. London office closed in accordance with UK government recommendations, staff working remotely.
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EPE Special Opportunities Ltd - private equity investment company - To delay release of results for the year ended January 31 in line with UK Financial Conduct Authority's two-week moratorium. Says long-term impact of virus on the company and its portfolio uncertain. Maintains strong liquidity of GBP26.4 million as at January 31 and operates with modest committed outgoings. Portfolio taking steps to manage liquidity, financial position and trading outlook.
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Feedback PLC - medical imaging company - To provide Bleepa imaging-based communication platform as a tool to assist coronavirus response. To pause Bleepa pilot programme for evaluating specific clinical workflow applications and is now now evaluating options for a wider rollout to support the local Covid-19 response at Pennine NHS Trust.
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Glenveagh Properties PLC - Irish housebuilder - Implementing measures to limit virus spread, allowing construction sites to remain operational. Sales performance in the current financial year in line with the board's expectations with over 475 units sold, signed or reserved. Starts virtual viewings of show villages. Reservations, signings and closings continue, albeit at slower pace. Suspending financial guidance until virus impact become clearer. Cash resources and available committed facilities total EUR121 million, plus a further EUR125 million of uncommitted facilities.
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1PM PLC - finance provider - Operations being effectively and successfully carried out with 190 employees operating remotely. Says multiple borrowers requesting payment delays, holidays, or similar forbearance. Delaying payment holidays and the rescheduling of lease and loan agreements on a case by case basis. Lobbying for changes and extensions to UK government's funding initiatives. Trading in line with market expectations through to the third quarter ended February 29. Unable to provide financial guidance and deferring decision on the amount and timing of final dividend.
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Apax Global Alpha Ltd - investment trust - Expects decline in net asset value in the short term. Monitoring liquidity in each portfolio company. Believes much of private equity portfolio is in sectors that are less severely impacted by the virus crisis. Available liquidity stood at EUR179.1 million as of Wednesday.
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Airea PLC - floorcoverings manufacturer - Predicts an overall reduction in demand for flooring products. Withdraws final 1.3 pence per share dividend for 2019. Trading to date including the majority of first quarter in line with expectations. Halts all non-critical expenditure. Has cash of GBP3.0 million and GBP1 million overdraft facility.
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By Tapan Panchal; tapanpanchal@alliancenews.com
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