Business
COVID-19 Update
COVID-19 Update.
About this update from Advanced Medical Solutions Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 5018I\n Advanced Medical Solutions Grp PLC\n 02 April 2020\n \n \n \n \n 02 April 2020\n \n \n \n \n \n Advanced Medical Solutions Group plc\n \n \n (\"AMS\" or the \"Group\")\n \n \n \n \n \n COVID-19 Update\n \n \n \n \n \n \n \n \n \n Winsford, UK:\n \n Advanced Medical Solutions Group plc (AIM: AMS), the surgical and advanced woundcare specialist company, today provides an update with regard to the COVID-19 pandemic.\n \n \n \n \n \n The Group's priority at this time is the safety, health and well-being of its employees and their families and to supply its customers as far as is feasibly possible whilst complying with government measures on social distancing.\n \n \n \n \n \n Given the strong cash position of £65 million and no debt as at 31 December 2019, the Group confirms it is in robust financial condition to weather the current global disruption caused by the pandemic. Additionally, in the unlikely event that it was needed, the Group also has an undrawn unsecured £80 million credit facility provided jointly by The Royal Bank of Scotland and HSBC which is in place until December 2023.\n \n \n \n \n \n Reflecting the strength of the Group's financial condition and the Board's belief in the long term prospects of AMS, subject to shareholder approval, the Board still proposes its final dividend for 2019 of 1.05p per share, to be paid on 19 June 2020 to shareholders on the register at the close of business on 29 May 2020.\n \n \n \n \n \n All AMS sites are currently in operation and meeting the Group's commitments to maintain supply of its medical devices to healthcare partners and customers worldwide. However, the Group is now experiencing a slowdown in demand caused by the cancellation or postponement of elective surgeries and a reduction in accident & emergency treatment as a result of the global lockdowns. Clinical activities and new customer evaluations in both Business Units have also been temporarily impeded by the pandemic, and we envisage some potential supply disruption across the Group in the coming months. We are unable to predict the eventual financial \n impact for AMS, \n as\n it will depend on how long pandemic control procedures are in operation and how quickly thereafter the global markets in which the Group operates can recover...