Wed, 18th Mar 2020 15:30
Heavitree Brewery PLC (the "Company")
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
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
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