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Animoca Brands institutes remote work arrangements for employees to minimise COVID-19 risk

Proactive Investors Thursday, 20 February 2020
Animoca Brands Corporation Ltd (ASX:AB1) has experienced a slow-down in operations due to increased safety precautions adopted by the company and the government of Hong Kong against the outbreak of novel coronavirus COVID-19. To date there have been no cases of the infection among Animoca Brands employees and the company does not have employees based in Mainland China, where the outbreak is most severe. Eleven of the company’s Hong Kong based employees who recently travelled to mainland China have been asked by the company to self-quarantine at home for a period of 14 days following their return to Hong Kong. Animoca has instituted remote work arrangements in order to minimise the risk of exposure to its employees and although it is able to conduct operations on a remote basis, the arrangements have resulted in a slow-down of activities. The company is tracking the situation and following the recommendations of the World Health Organisation as well as the Health Department of the Government of Hong Kong Special Administrative Region. Extension to respond to ASX letter Animoca has confirmed the ASX has granted a further extension to the company to respond to a letter issued by the ASX on December 18, 2019. The letter contained information regarding what the ASX believes to be breaches of the listing rules. Animoca sought an extension due to disruptions to its day-to-day operations caused by the COVID-19 outbreak of the novel coronavirus. The company’s board and management are working closely with advisers to respond to the letter, which includes assessing all options in order to achieve the best outcome for shareholders.

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