Waterford, Ireland – 22 October 2020, Kollect On Demand Holding AB (publ) (“Kollect” or the “Company”), (Nasdaq: KOLL), announces that the Irish Government is introducing some of the strictest public health restrictions in Europe.

New nationwide restrictions at Level 5 (highest level in Ireland) are in place for six weeks from midnight on Wednesday, 21 October 2020. This is a significant step up from Level 3 restrictions that had been in place over the previous 2 weeks.

At Level 5, everyone – with certain exceptions - is required to stay-at-home. In general, people may leave their homes only to exercise within 5 kilometres of home.

There will be penalties for movement outside 5 kilometres of home, with exceptions including:

  • travel to and from work, where work involves providing an essential service;
  • to attend medical appointments and collect medicines and other health products;
  • for food shopping;
  • for vital family reasons, such as providing care to children, elderly or vulnerable people, and in particular for those who live alone, but excluding social family visits; and
  • for farming purposes, that is food production or care of animals.

Kollect’s operations are regarded as essential services and will, therefore, continue to operate fully throughout the restrictions. While the construction industry remains open, other commerical customers – particularly hospitality and non-essential retail businesses - are impacted by the lockdown. The Company expects, therefore, that there will be continued demand for services such as Commercial Skips (containers), with reduced demand for other services such as commercial Bin Services.

In the UK, the Government is also applying Level 3 restrictions (the highest level in the UK) to the Greater Manchester area. As this is where Kollect’s UK operations are based, there may be reduction in demand for the Company’s waste services.

In response, the Company is continuing to focus its business on Domestic Bins and Junk Removal (e.g. with digital marketing focus on clearing out attics, garages, spare rooms etc.), Waste Drop-Off and Commercial Skip Hire.

Also as before, Company continues to be prudent by keeping costs to a minimum and conserving cash where possible.

John O’Connor, CEO, says: “Whilst these restrictions are in the highest tier available to the Irish Government, they are less strict than in Q2 (for example, construction remains open), when we continued to grow revenues. This was in large part due to the hard work and dedication of our team, which we are sure will continue to see us through this next challenge”.

For further information, please contact:
John O’Connor, CEO
+353 871 218 907
john@kollect.ie
www.kollect.ie

About Kollect

Founded in Waterford, Ireland, Kollect is an innovator and disruptor in the waste industry listed on the Nasdaq First North Growth Market (symbol: KOLL). Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, CA@mangold.se, www.mangold.se).

The Company services two types of customers: those who arrange to have waste collected via the online Kollect booking engine; and those who use BIGbin smart compactor bins for waste drop-off.

The waste collection services include domestic door-to-door bin collection, commercial bin collection, skip (container) hire, skip bags and junk removal such as furniture and other large objects.

For more information, visit www.kollect.ie.

Attachments

Irish Government announces Level 5 restrictions nationwide; Kollect continues full operations

© Modular Finance, source Nordic Press Releases