Last checked at 11 Mar 2020 12:00
11 March 2020
Ascential plc
Contingency Date Communications to Cannes Lions and Money20/20 Europe Customers
Ascential plc (LSE: ASCL.L), the specialist information, data and analytics company has today updated its customers to confirm the contingency dates for Cannes Lions and Money20/20 Europe, should we not be able to proceed as planned in June due to the Coronavirus outbreak. We are currently planning for both events to take place as scheduled in June.
Approximately 75% of Ascential's annual revenues are delivered through its growing, robust digital subscriptions and platforms, advisory and benchmark revenue streams. Approximately 25% of annual revenues derive from destination events income, mainly the Cannes Lions festival in June and Money20/20 events in Amsterdam in June and Las Vegas in October.
The health of our staff, customers and others is of paramount importance. Accordingly, we proactively work with and follow the advice of the French and Dutch governments, the World Health Organisation and local authorities in Cannes and in Amsterdam in respect of our planned June events.
Based on current discussions, we are planning for both events to take place as scheduled in June. We are also carefully monitoring developments and consulting with our customers in the formulation of contingency plans. We have therefore today published our agreed contingency dates for both events in the second half of our financial year being 26-30 October 2020 for Cannes Lions and 22-24 September 2020 for Money20/20 Europe. We expect to make a final decision on whether to defer the events to these contingency dates by no later than mid-April as more information becomes available on the viability of our preferred original dates.
If we need to invoke our contingency dates for Cannes Lions or Money20/20 Europe, our contracted customers will automatically transfer with us. Any additional expenses that may need to be incurred as a result of a deferral are not expected to be material.
For further information, please contact: |
|
FTI Consulting LLP | 020 3727 1000 |
Ed Bridges / Matt Dixon / Jamie Ricketts |
|
Ascential is a specialist information, data and analytics company that helps the world's most ambitious businesses win in the digital economy. Our information, insights, connections, data and digital tools solve customer problems in three principal disciplines:
· Product Design via global trend forecasting service WGSN;
· Marketing via global benchmark for creative excellence and effectiveness Cannes Lions and WARC, and strategic advisory firm MediaLink; and
· Sales via ecommerce-driven data, insights and advisory firm Edge by Ascential and Yimian, leading managed services provider for Amazon, Flywheel Digital, the world's premier payments and FinTech congress Money20/20 and World Retail Congress and Retail Week.
Ascential also powers political, construction and environmental intelligence brands DeHavilland, Glenigan and Groundsure - together comprising the Built Environment and Policy segment.