Colefax Group PLC COVID-19 Impact and Interim Dividend Cancellation (1148H)
23 March 2020 - 6:00PM
UK Regulatory
TIDMCFX
RNS Number : 1148H
Colefax Group PLC
23 March 2020
AIM: CFX
23 March 2020
COLEFAX GROUP PLC
("Colefax" or "the Group")
COVID-19 impact and cancellation of interim dividend
Trading up until mid-March was in line with management
expectations reflecting customer activity predating the early
stages of the COVID-19 pandemic. Until there is greater clarity
about the full impact of the pandemic, it is very difficult to give
accurate guidance on the future sales impact but it is likely to be
significant. The Group has a strong balance sheet and the Board's
priority is to conserve cash and manage the Group through the
crisis as prudently as possible.
As a result of the uncertainty surrounding the future impact of
the COVID-19 pandemic the Board of Colefax Group Plc has taken the
decision to cancel payment of the interim dividend of 2.60p per
share, which was due to be paid to shareholders on 9 April 2020.
The Board will review the Group's dividend policy when there is
greater clarity about the future impact of the pandemic.
Enquiries:
Colefax Group plc David Green, Chief Tel: 020 7318 6000
Executive
Rob Barker, Finance
Director
KTZ Communications Katie Tzouliadis Tel: 020 3178 6378
Dan Mahoney
Peel Hunt LLP Adrian Trimmings Tel: 020 7418 8900
(Nominated Advisor Andrew Clark
And Broker)
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END
UPDBLGDXGXDDGGD
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March 23, 2020 03:00 ET (07:00 GMT)
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