26 March 2020
CLEAN INVEST AFRICA PLC
("CIA" or the "Company")
Trading Update on Activities Affected by COVID-19
On 23 March 2020, a Directive was issued by the South African Government requiring a 21-day national lockdown, effective midnight Thursday 26 March 2020 to midnight Thursday 16 April 2020, in order to contain the spread of the coronavirus in the country (the “Lockdown Directive”).The Company’s subsidiary, Coal Agglomeration South Africa (Pty) Ltd (“CASA”) will stop all activities currently ongoing at its Bulpan Plant, based the following plan of action:
All testing activities were suspended effective Wednesday night, 25 March 2020
1. During today, Thursday, all critical equipment will be disconnected and all value material will be removed from site
2. By this Thursday evening today, the Company will have the plant in safe mode and people involved with the plant operation will be sent home.
3. Security surveillance will continue to protect all the assets
We have coordinated with our client and have agreed a tentative plan for resuming the work and completing the contracted production after the lockdown period. The Company will continue monitoring the situation so that CASA is ready to adapt to the fast-changing environment.
The management team will be operative and will continue working, although with a reduced pace and significant disruption to the marketing, commercial and business development activities. Management are adopting to the situation using smart and remote working.
The Directors of the Company accept responsibility for the content of this announcement.
Clean Invest Africa PLC
Filippo Fantechi – Chief Executive Officer
Telephone: +973 3 9696273
Peterhouse Capital Limited
Telephone: 020 7220 9795All Announcements