Last checked at 4 Aug 2020 07:00
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4 August 2020
Ascential plc
Money20/20 US and Europe 2020 cancellations
Ascential plc (LSE: ASCL.L), the specialist information, data and analytics company, today announces the cancellation of the US and Europe editions of Money20/20 scheduled for 25-28 October and 22-24 September 2020 respectively.
Further deterioration of the situation in the United States relating to COVID-19 and the recent spikes in infection rates in certain European countries have contributed to a greater level of uncertainty in these regions. This, combined with the rapidly evolving restrictions on physical travel in both the US and Europe, means we are no longer confident we can deliver physical events this year that meet the standard expected of Money20/20.
We will, however, be engaging virtually with the industry in the week of 26-28 October 2020, through a digital content programme, together with a dedicated networking platform for Money20/20's delegates and sponsors.
In terms of the financial impact of this decision, as recently stated, we have examined a range of planning scenarios that allowed us to conclude positively on the strength of our financing. These planning scenarios already included the possibility of no live events running in H220 (or in H121 in the most severe scenario).
Duncan Painter, CEO of Ascential, said:
"While it is obviously disappointing, this decision reflects the realities of the continued impact of COVID-19 in many regions of the world, and has been taken in the longer-term interest of the Money20/20 community. We look forward to connecting with our customers in a digital format in October and, in partnership with this dynamic industry, planning the 2021 editions of this world-class event series."