19th Mar 2020 16:34
(Alliance News) - SpacenandPeople PLC warned Thursday it will not pay a final dividend in order to preserve cash after the Covid-19 outbreak.
The retail licensing space marketing firm said in recent days it has seen a "substantial" fall in sales activity in both the UK and Germany.
SpaceandPeople cannot yet quantify what the full impact will be, but it will be "significant".
The company had planned on announcing a 0.75 pence per share final dividend for 2019, but this has been removed as one of a number of measures introduced to try and save cash to protect the business.
SpaceandPeople has delayed releasing annual results for calendar 2019 due to Covid-19. It now expects to release them on April 27, giving it more time to assess how Covid-19 may impact the company. Further, it will not be able to give any financial guidance for 2020.
There will not be any "significant" change to market expectations for 2019, the firm said.
Shares went untraded on Thursday in London, last quoted at 7.00 pence each.
By George Collard; [email protected]
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