Company Announcements

COVID-19 Trading Update

Source: RNS
RNS Number : 6425J
CEPS PLC
15 April 2020
 

15 April 2020

CEPS PLC

 ("CEPS" or the "Company")

 

COVID-19 Trading Update

 

CEPS plc provides the following update in relation to trading and COVID-19.  CEPS and its subsidiary companies ("the Group") have all taken appropriate measures to reduce costs, seeking rent deferments where applicable, furloughing staff and seeking appropriate financial assistance where possible.  While the Company's cash resources are sufficient, the Board of Directors have either cut or deferred all or part of their remuneration in order to conserve cash as a precaution, given the current lack of visibility.

 

CEPS is monitoring the impact of the COVID-19 virus on its subsidiary companies and the wellbeing of staff and the support of the management teams are of primary importance to the CEPS Board.

 

The Board acknowledges these unprecedented circumstances are challenging not only for the subsidiary companies, but for the Group as a whole and that, while the impact on the current year is likely to be negative, the extent of this remains subjective as timelines are uncertain and the long-term impact on the Group's performance and the individual subsidiary companies performance will not be known for some time.

 

The announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

Enquiries

 

CEPS PLC

David Horner, Chairman

 

+44 1225 483030

 

Cairn Financial Advisers LLP

James Caithie / Tony Rawlinson / Ludovico Lazzaretti

 

+44 20 7213 0880

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
UPDUSONRROUSAAR