J D WETHERSPOON PLC Q1 TRADING UPDATE J D Wetherspoon plc ('Wetherspoon' or 'the Company') presents below its Q1 trading update for the 13-week period up to 27 October 2019. Current trading For the 13 weeks to 27 October 2019, like-for-like sales increased by 5.3% and total sales by 5.6%. Property The Company has opened one new pub since the start of the financial year and has disposed of four. We intend to open between 10 and 15 pubs in the current financial year. In the current financial year to date, the Company has spent £43.3m on buying the freeholds of pubs of which it was previously the tenant and has bought back £6.4m of the Company's shares. Corporate governance (and guaranteed eventual destruction) Commenting on corporate governance issues, the Chairman of Wetherspoon, Tim Martin, said: "While acknowledging the need for a sensible system of corporate governance (CG), I have, for many years, expressed the urgent need for modification of the CG code, summarised in our 2019 annual report (Appendix 1).