Announcement
MKTUPDTE: CAV: Update on COVID-19 and business continuity plan
01:12pm
CAV
27/03/2020 13:12
MKTUPDTE
NOT PRICE SENSITIVE
REL: 1312 HRS Cavalier Corporation Limited
MKTUPDTE: CAV: Update on COVID-19 and business continuity plan
Cavalier Corporation Limited advises that its business continuity plan is now
successfully in place, with a number of further actions being undertaken to
preserve the future of the business and jobs.
o In line with the Government-mandated lockdown, all New Zealand facilities
are now closed and essential staff required for business continuity are
working remotely.
o The company is supporting access to Government subsidies and assistance for
employees, where available.
o Website orders are still being taken with delivery to be arranged
post-lockdown.
o In Australia, at this stage, the sales and business teams are continuing to
work and orders are being taken, with stock available in-country.
o All non-essential capital and operational spend has been delayed and all
costs are being closely monitored.
o Cavalier has engaged with its banking partner to ensure continued support
and liquidity during this period.
o As previously advised, the Company is unable to provide any earnings
guidance for FY20. The Board will continue to monitor the situation and will
keep shareholders and the market informed.
27 March 2020
ENDS
For further information please contact:
Paul Alston
Chief Executive Officer
palston@cavbrem.co.nz
+64 21 918 033
+64 9 277 1135
Jackie Ellis
Media and Investor Relations
Jackie@ellisandco.co.nz
+64 27 246 2505
End CA:00350821 For:CAV Type:MKTUPDTE Time:2020-03-27 13:12:02
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