Notice of Results Update & Dividend Cancellation

RNS Number : 7139G

SpaceandPeople PLC

19 March 2020

 

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

SpaceandPeople plc

("S&P" or the "Company")

Revised Date for Announcement of Preliminary Results

and Cancellation of Proposed Dividend Payment

The Board of S&P has taken the decision, given the uncertainty surrounding the Covid-19 pandemic, that additional time may be required to allow the Company and its auditors to complete and announce its preliminary results for the year ended 31 December 2019 ("Results").

Accordingly, the Company now expects to announce its Results on 27 April 2020, providing  additional time for issues relating to Covid-19 to be assessed and more informed expectations formed and disclosed on the likely future impact on S&P. The Board does not anticipate that there will be any significant change to the market expectations in relation to the year to 31 December 2019 already announced in the Trading Update of 3 February 2020.

As a result of Covid-19, we have in recent days seen a substantial reduction in the level of sales activity across our portfolio of venues in both the UK and Germany. The full extent and duration of these disruptions is not yet known, but it will undoubtedly have a significant effect on the Company's trading in 2020. As a result, the Company is removing the proposal to pay a final dividend of 0.75 pence per share in relation to the 2019 results as one of a number of measures being taken in order to protect the business and conserve cash during this period.

Given the level of uncertainty, it is no longer possible to provide financial guidance for the remainder of the financial year ending 31 December 2020.

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For further information, please contact:

SpaceandPeople plc	0845 241 8215
Matthew Bending
Gregor Dunlay
Cantor Fitzgerald Europe	020 7894 7000
David Foreman Will Goode Adam Dawes

 

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