Operational Update for COVID-19

As a result of the World Health Organization’s declaration of the Coronavirus pandemic and local cases in our region, Conestoga has implemented its business continuity plan.  The plan is specific to the Coronavirus outbreak and enables the firm to continue to manage and trade client portfolios, perform research, and service our clients.  Our top priorities are our clients and the safety of our employees.  We have taken the following actions as part of this plan:

• In mid-March, Conestoga enacted its business continuity plans with specific COVID-19 protocols. Since Friday, March 13th, Conestoga has been operating under this plan with 100% of our staff working remotely. All of our teams – investments, operations & trading, and client services – are operating well in this environment. Our workflow, systems and processes have functioned as designed.      

• The investment team is holding twice-daily conference calls to review and manage the investment strategies. In addition, they have been actively reaching out to all the portfolio companies to discuss how their executive leadership are managing operations during these uncertain times.

• Our trading and operations teams continue their daily trading and reconciliation of client accounts and our Conestoga Funds. The client services team remains in regular communications with our clients and shareholders. We have also been in close contact with our key vendors and service providers to confirm their continued capabilities.

• We have been very satisfied with our capability to maintain our standards of operation and service to our clients. As we enter the fourth quarter, we are planning for a return to the office in a measured way. We continue to monitor local developments and we will adjust our plans as warranted. Please don’t hesitate to contact us with any questions.

On behalf of all of us at Conestoga, thank you for your continued support.