Real People Investment Holdings Limited (RPIH) is constantly monitoring the pandemic situation around COVID-19 (novel coronavirus). The health and safety of its employees, customers and stakeholders remains the company's number one priority and we continue to assess and mitigate risks to the extent we are able.
The President of Republic of South Africa declared a national lockdown to prevent the further spread of COVID-19. The lockdown period is from midnight 26 March 2020 until midnight 16 April 2020. We have experienced a decline in trading conditions and collections, which is expected to continue, the extent of which is not accurately quantifiable at this point. Accordingly RPIH expects revenues to decline in all its businesses relative to the prior year. RPIH will provide the market with further information when RPIH is able to quantify the decline and comment more in detail.
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For further information, please contact:
Neil Grobbelaar, Group Chief Executive Officer
Email: ctaylor@realpeople.co.za
Phone number: +27 82 772 5481
This information is information that RPIH is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on April 7th, 2020 at 15:00 CET
Important notice about forward-looking information
This press release includes forward-looking information and statements concerning the outlook of the company. These statements are based on current expectations, estimates and projections about the factors that may affect the company's future performance, including the future impact of COVID-19, global economic conditions, macro-economic conditions and the economic conditions of the regions and industries that are major markets for RPIH. These expectations, estimates and projections are generally identifiable by statements containing words such as "anticipates", "expects", "believes", "estimates", "plans", "targets" or similar expressions. However, there are numerous risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release and which could affect our ability to achieve any or all of our stated targets. Many of the factors that could cause such differences are identified and discussed from time to time in the company's quarterly reports. Even though RPIH believes that its expectations reflected in any such forward-looking statements are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.
Attachment
- RPIH Press Release - Update on the impact of COVID 20200406 FINAL (https://ml-eu.globenewswire.com/Resource/Download/e27fedf6-edaa-4485-b46a-1efcab91623b)
