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Share Name Share Symbol Market Type Share ISIN Share Description
Cambria Automobiles Plc LSE:CAMB London Ordinary Share GB00B4R32X65 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.50 2.56% 60.00 57.00 60.00 59.25 57.50 59.00 22,592 16:35:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Retailers 524.0 10.2 8.2 7.3 60

Cambria Automobiles Plc COVID-19 Update: Temporary Closure of Retail Sites

24/03/2020 10:44am

UK Regulatory (RNS & others)


Cambria Automobiles (LSE:CAMB)
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From Jan 2020 to Jan 2021

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TIDMCAMB

RNS Number : 3687H

Cambria Automobiles Plc

24 March 2020

24 March 2020

Cambria Automobiles plc

("Cambria" or the "Group")

AIM: CAMB

COVID-19 Update: Temporary Closure of Retail Sites

The Board of Cambria announces the temporary closure of its dealerships across the UK. This decision has been taken to safeguard the health and wellbeing of its Associates as well as current and potential Guests, following recent Government advice.

All car showrooms have closed with effect from midnight on 23 March 2020 and any outstanding servicing and warranty repair commitments will be fulfilled in the coming weeks with enhanced safety measures in place. The Group will operate a skeleton staff structure to provide services to essential workers.

The Group has the full and continued support of its banks and recently took the decision to fully draw down its Revolving Credit Facility to ensure liquidity in the current environment. The Board is confident that it has sufficient liquidity to comfortably see through the challenges that the pandemic currently presents.

As a result of the above, all capital expenditure projects have been put on hold and will be constantly reviewed alongside developments in the Coronavirus situation.

The closure of the Group's retail sites will have a material impact on its financial performance in the current financial year to 31 August 2020 and as a result, the Board suspends financial guidance in the market until further notice. As a result of the ongoing situation, the Board is not likely to recommend an interim dividend for the period ended 29 February 2020. The Board will provide updates to shareholders as and when appropriate.

-Ends-

Enquiries:

 
 Cambria Automobiles                  Tel: 01707 280851 
  Mark Lavery, Chief Executive 
  James Mullins, Finance Director 
  www.cambriaautomobilesplc.com 
 N+1 Singer - NOMAD & Joint Broker   Tel: 020 7496 3000 
  Mark Taylor 
 Zeus Capital - Joint Broker         Tel: 020 7533 7727 
  Dominic King 
 FTI Consulting                      Tel: 020 3727 1000 
  Alex Beagley / James Styles / 
  Sam Macpherson 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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March 24, 2020 06:44 ET (10:44 GMT)

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