Watkin Jones plc COVID-19 Update (7967H)
27 Marzo 2020 - 1:00AM
UK Regulatory
TIDMWJG
RNS Number : 7967H
Watkin Jones plc
27 March 2020
For immediate release 27 March 2020
Watkin Jones plc
('Watkin Jones' or the 'Group')
COVID-19 Update
Watkin Jones plc (AIM:WJG), the UK's leading developer and
manager of residential for rent, with a focus on the student
accommodation and Build to Rent sectors, announces the following
update on COVID-19 and the measures the Group is taking to manage
and mitigate the potential risks to its employees, clients,
customers, partners and shareholders.
The health and safety, welfare and protection of all people
directly or indirectly involved in the Group's business is our
number one priority. The Group has been reviewing and responding to
the evolving situation in respect of the COVID-19 pandemic, closely
following guidance from Public Health England and the World Health
Organisation. The Group has responded quickly and implemented
specific COVID-19 business continuity plans in line with
guidance.
Watkin Jones' office based staff are successfully enrolled in
managed flexible working programmes, enabled by the Group's
technology platforms. In order to prioritise welfare, the Group has
decided to close its active development sites temporarily, with the
exception of a small number of sites which will remain open whilst
essential services works are completed. The Group will keep this
position under review and remains prepared to remobilise the sites
quickly, as soon as it is appropriate and safe to do so.
Within Fresh Property Group, where we manage student and build
to rent tenants on behalf of institutional owners, we are focusing
on ensuring the safety and welfare of our tenants and staff, and
providing practical support to those who are self-isolating.
Enhanced cleaning regimes and adjusted social interaction
arrangements are in place to assist in managing and controlling the
potential spread of the virus. We are working very closely with our
university partners, international agents and other key
stakeholders, particularly in respect of the impact on this summer
term and potentially further ahead.
We are taking proactive steps to manage the business effectively
through this fast-moving situation. At this stage it is too early
to assess accurately the extent and length of disruption arising
from COVID-19. The Group will provide an update on first half
performance shortly following the period end.
- Ends -
For further information:
Watkin Jones plc
Richard Simpson, Chief Executive Tel: +44 (0) 1248 362 516
Officer
Phil Byrom, Chief Financial Officer www.watkinjonesplc.com
Peel Hunt LLP (Nominated Adviser & Joint Tel: +44 (0) 20 7418
Corporate Broker) 8900
Mike Bell / Ed Allsopp www.peelhunt.com
Jefferies Hoare Govett (Joint Corporate Tel: +44 (0) 20 7029
Broker) 8000
Max Jones / Will Soutar www.jefferies.com
Media enquiries:
Buchanan
Henry Harrison-Topham / Richard Oldworth Tel: +44 (0) 20 7466 5000
Jamie Hooper / Steph Watson
watkinjones@buchanan.uk.com www.buchanan.uk.com
Notes to Editors
Watkin Jones is the UK's leading developer and manager of
residential for rent, with a focus on the student accommodation and
Build to Rent sectors. The Group has strong relationships with
institutional investors, and a reputation for successful,
on-time-delivery of high quality developments. Since 1999, Watkin
Jones has delivered 41,000 student beds across 123 sites, making it
a key player and leader in the UK purpose built student
accommodation market. In addition, the Fresh Property Group, the
Group's specialist accommodation management company, manages nearly
18,000 student beds and Build to Rent apartments on behalf of its
institutional clients. Watkin Jones has also been responsible for
over 80 residential developments, ranging from starter homes to
executive housing and apartments. The Group is now expanding its
operations into the Build to Rent sector.
The Group's competitive advantage lies in its experienced
management team and business model, which enables it to offer an
end-to-end solution for investors, delivered entirely in-house with
minimal reliance on third parties, across the entire life cycle of
an asset.
Watkin Jones was admitted to trading on AIM in March 2016 with
the ticker WJG.L. For additional information please visit
www.watkinjonesplc.com
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END
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