Brighton Pier Group PLC (The) Covid-19 update (9951O)
2021年2月12日 - 11:37PM
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RNS Number : 9951O
Brighton Pier Group PLC (The)
12 February 2021
12 February 2021
The Brighton Pier Group PLC
("Brighton Pier Group" or "the Company" and with its
subsidiaries "the Group")
Covid-19 update and notification of the publication of interim
results
The Brighton Pier Group PLC, which owns and operates Brighton
Palace Pier together with indoor mini-golf sites and premium bars
nationwide, announces an update on recent activity and gives notice
of the publication date for its interim results.
As announced on 2 November 2020 (together with the Company's
final results for the 52 weeks to 28 June 2020), the Group has
lodged claims with its insurers for business interruption losses
arising from closures of the Group's venues.
The High Court Judgement on 15 September 2020 found that the
Group's 'Marsh resilience' insurance policies are capable of
responding to Covid-19 business interruption claims. Furthermore,
the Group's advisers have indicated that the Supreme Court ruling
on 15 January 2021 does not change the fundamental principle that
these policies can respond to claims, subject to appropriate
discussion and agreement over the quantum of the arising losses and
any applicable policy caps.
The Group has to date received from its insurers interim
payments totalling GBP1.4 million in respect of these losses.
Whilst these payments do not satisfy the entirety of the Group's
claims, they nevertheless support the Group's overall liquidity
which continues to be strong. The Company will provide further
updates as appropriate.
The Group also gives notice that it intends to publish its
interim accounts on Monday 29 March 2021.
Commenting, Anne Ackord CEO writes:
"Whilst business interruption insurance is welcome, and the
rollout of the vaccination programme provides a route back to
normality, we are keen for the Government to announce a recovery
roadmap for the Tourism and Hospitality sectors. If businesses in
the night-time economy continue to be subject to restrictions after
the end of lockdown, the Government needs to recognise that further
ongoing financial support will be required."
Enquiries:
The Brighton Pier Group Tel: 020 7376
6300
Luke Johnson, Chairman Tel: 020 7016
0700
Anne Ackord, Chief Executive Officer Tel: 01273 609361
John Smith, Chief Financial Officer Tel: 020 7376
6300
Panmure Gordon (UK) Limited (Nominated Adviser) Tel: 020 7886
2500
Corporate Finance
Atholl Tweedie
Corporate Broking
Charles Leigh-Pemberton / Rupert Dearden
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END
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February 12, 2021 09:37 ET (14:37 GMT)
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