Hydro Hotel, Eastbourne, Plc; Hydro Hotel Eastbourne Plc Covid - 19 Update and cancellation of interim dividend

 
TIDMHYDP; HYDP 
 
24 March 2020 
 
                         Hydro Hotel, Eastbourne, Plc 
 
                       ("Hydro Hotel" or the "Company") 
 
            Covid - 19 Update and cancellation of interim dividend 
 
The Directors of Hydro Hotel have been closely monitoring Government 
instructions issued in order to contain the spread of the coronavirus and have 
been assessing the impact of these measures on the Company's trade and cash 
flow. 
 
With the official instruction to close bars, restaurants and other hospitality 
venues, and in view of the uncertainty on how long the closure order will 
remain in force, the Board together with the management of the Hotel, have 
agreed the following measures, in order to protect our guests, employees and 
shareholders and to conserve cash: 
 
  * the Hotel is now temporarily closed to guests and a takeaway food and 
    delivery service will operate 
 
  * staff will be available to take calls for new and amended future bookings 
    and to deal with any other enquiries 
 
  * the interim dividend of 14p per share which was announced on 11 December 
    2019 and would have been payable on 30 April 2020 will be cancelled. 
 
It is anticipated that these measures will be temporary and will be reviewed on 
a regular basis, with the Board reporting to shareholders any other significant 
operating changes to be made. 
 
The Board wishes to assure all guests, employees, shareholders and suppliers, 
that the intention is for the Hotel to return to being fully operational as 
soon as Government restrictions are relaxed and it is safe to do so. Your 
forbearance and understanding in these exceptional circumstances are welcomed 
by the Board. 
 
The Directors of Hydro Hotel accept responsibility for the content of this 
announcement. 
 
Enquiries: 
 
Hydro Hotel, Eastbourne, Plc                      Telephone: [phone] 
Sally Gausden                                                [phone] 
Company Secretary 
 
Peterhouse Capital Limited                        Telephone: [phone] 
AQSE Corporate Adviser 
Mark Anwyl 
 
Market Abuse Regulation (MAR) Disclosure 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulation 
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory 
Information Service, this inside information is now considered to be in the 
public domain. 
 
 
 
END 
 

(END) Dow Jones Newswires

March 24, 2020 06:02 ET (10:02 GMT)