HYDRO HOTEL EASTBOURNE PLC - Covid - 19 Update and cancellation of interim dividend PR Newswire

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: +44 1323 431 200
Sally Gausden                           +44 1323 720 643
Company Secretary

Peterhouse Capital Limited   Telephone: +44 20 7469 0930
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.