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DJ Newbury Racecourse Plc AGM Statement

 
TIDMNYR 
 
26th June 2020 
 
                            NEWBURY RACECOURSE PLC 
                      ("the Racecourse" or "the Company") 
 
                                 AGM Statement 
 
At the Annual General Meeting to be held at Newbury Racecourse at 10 am today, 
the Chairman, Dominic Burke, will make the following statement: 
 
"Following the postponement of all racing in the UK on 17th March 2020 due to 
COVID-19 restrictions imposed by the Government, I am pleased to advise that 
racing recommenced at Newbury on Thursday 11th June, albeit without attendance 
from the public being permitted at this time, in accordance with the British 
Horseracing Authority's health and safety guidelines with regard to social 
distancing measures. Newbury also held additional racing on Friday 12th and 
Saturday 13th June. 
 
Under similar protocols, the Company also plan to hold a further five racing 
days during July and August and expects to adopt a more normal racing fixture 
list beyond that. While attendance from the public is not yet permitted, the 
Board of Directors believes that re-opening the racecourse for racing has been 
a positive development for the Company. From a financial standpoint, with 
racing recommencing alongside the re-opening of licenced betting shops from 
15th June, we began receiving revenues again from our racing media rights. 
 
In addition, the Company's Rocking Horse nursery operations re-opened on 1st 
June in accordance with Government health and safety guidelines and reduced 
child headcount. However, The Lodge hotel remains closed and we continue to 
expect a very difficult trading environment for the Conference and Events 
business. The situation continues to be monitored as restrictions imposed on 
businesses gradually reduce as the UK emerges from the COVID-19 lockdown. 
 
However, in common with many companies, the impact of COVID-19 has delayed the 
finalisation of the Company's audited annual financial accounts for the year 
ended 31 December 2019. We expect to publish the 2019 Audited Accounts by 31st 
July 2020 at the latest. Therefore, to allow this Annual General Meeting to 
receive and adopt the Annual Report and Accounts and for the meeting to be 
properly conducted, it is proposed that this meeting be adjourned under article 
67 of the Company's Articles of Association. The 2019 Audited Accounts will be 
sent to shareholders when available and after that the Annual General Meeting 
will be re-convened.  We will advise shareholders and provide notice of the 
proposed date for the Annual General Meeting to be re-convened. 
 
In the meantime we continue to be guided by Government advice with the Company 
prepared and ready to resume full operations as and when it is safe to do so." 
 
For further information please contact: 
 
Newbury Racecourse plc        Tel: 01635 40015 
Julian Thick, Chief Executive 
 
Harriet Collins, Marcomms & Sponsorship Director 
Hudson Sandler                Tel: 020 7796 4133 
Charlie Jack 
 
 
 
END 
 

(END) Dow Jones Newswires

June 26, 2020 02:00 ET (06:00 GMT)