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22 Dec 2020 11:00
Heavitree Brewery PLC (the "Company")
Trood Lane
Matford
Exeter
Devon EX2 8YP
Date: 22 December 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 Trading Update
Heavitree Brewery PLC (the "Company") trades as a tenanted pub estate.
The COVID-19 situation has continued to evolve rapidly throughout this year and during the course of the year the Company has reacted accordingly, taking various steps to assist and protect its position whilst looking to ensure the strength of its tenanted estate in the long term.
In order to support our estate, all pub rental charges between April and July were cancelled. Charges in August were re-introduced at 25% of the usual rates, at 40% in September and at 50% in October. Following the second national lockdown, November rental charges were also cancelled. Owing to the challenging trading conditions associated with tier two, the Company has taken the decision to charge at 50% for December, but only for those pubs which can trade, and to cancel all pub rental charges for January with what is anticipated to be a very difficult trading environment for the hospitality industry.
The Board continues to protect its cashflow by monitoring spending and suspending all capital projects. It continues to work closely with Barclays Bank who have supported the Company throughout.
The Company continues to work with its tenants to assist where possible and to interpret the announcements from Government.
ISIN: GB0004182506 for Ordinary Shares
ISIN: GB0004182720 for 'A' Limited Voting Ordinary Shares
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