COVID-19 Announcement

RNS Number : 6707G

Heavitree Brewery PLC

18 March 2020

 

Heavitree Brewery PLC (the "Company")

Trood Lane

Matford

Exeter

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

COVID-19 update

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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