Business
COVID-19 and AGM Update
COVID-19 and AGM Update.
About this update from Ibstock Plc
[{"type":"text","content":"\n \n \n RNS Number : 1069N\n Ibstock PLC\n 15 May 2020\n \n \n \n COVID-19 and AGM Update\n \n Ibstock plc ('Ibstock' or the 'Group'), a leading manufacturer of clay bricks and concrete products in the United Kingdom, today issues a further update on its response to the COVID-19 pandemic and further information in relation to the upcoming AGM.\n \n Operational update\n \n As announced on 24 March 2020, in support of the UK Government effort to bring the pandemic under control, and to protect the health and well-being of our colleagues, we took a decision to suspend all manufacturing operations.\n \n \n Subsequently, during the shutdown period, the Group furloughed a significant proportion of its employees and has developed new working practices and protocols, including social distancing and enhanced hygiene measures, which reflect the latest guidance from the Government, public health authorities and industry bodies.\n \n \n We welcome recent guidance from the Government that has allowed the housebuilding and construction sector to return to work over recent weeks. Activity levels in the industry have started to increase, and we have started to bring some of our manufacturing colleagues back into the business as we commence a phased restart of production. Initially, the Group will recommence operations at approximately one third of its manufacturing sites, where we see demand for specific products and have lower levels of inventory. Activity in this initial phase has started in some of our concrete plants, and is being followed by certain brick manufacturing sites from mid-May. The Group entered the COVID-19 shutdown period with healthy brick inventories and is in a good position to meet customer need.\n \n \n The Group will keep levels of demand under close review and has plans in place to restart operations at further manufacturing sites over the coming months, in response to customer demand.\n \n AGM update - Change of venue and further information\n Further to the publication of the Notice of Annual General Meeting on 6 April 2020, the Annual General Meeting ('AGM') of the Company will no longer be held at Ibstock's offices in London but will now take place at the Company's registered office Leicester Road, Ibstock, Leicestershire, LE67 6HS at 11.00 a.m. on Thursday 21 May 2020.\n \n As previously announce...