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SpaceandPeople PLC   -  SAL   

Notice of Results Update & Dividend Cancellation

Released 07:00 19-Mar-2020

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.

 

- Ends -

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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Notice of Results Update & Dividend Cancellation - RNS