COVID-19 Trading Update

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	[phone]
Cairn Financial Advisers LLP James Caithie / Tony Rawlinson / Ludovico Lazzaretti	[phone]

 

END

 

 

UPDUSONRROUSAAR